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Blockchain-based proptech Coadjute raises £4m

Coadjute blockchain
Image credit: Coadjute

Coadjute, a London-based proptech that uses a blockchain network to record property transactions, has raised £4m in a round led by Manchester VC Praetura Ventures.

Coadjute’s core service is its blockchain-based digital ledger that estate agents can use to track transactions. The Coadjute platform is designed to connect with existing real estate software, rather than replace it.

“Industry leaders are increasingly talking about a truly digitised property market but can’t imagine how that gets delivered,” said Dan Salmons, CEO of Coadjute.

“Coadjute has been investing in the technology that enables that future, everything from upfront information to smart contracts, digital identity to synchronised settlement.

“Customers are routinely astonished how far ahead we are – we can do what many think is still science fiction.”

The Praetura-led round also featured participation from Reech Corporations Group.

“Unlike other proptech companies, the key to Coadjute’s success is collaboration with incumbent players and using their platform to connect all the stakeholders involved in the sale of a property,” said David Foreman, managing partner at Praetura Ventures.

“Their proposition is unique to the industry. We want to help them continue to expand and move closer towards their vision of a connected property industry.”

The latest round brings the total amount raised by the company to £14m. The proptech’s last round was a £6m raise back in December 2021.