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Proptech startup Coadjute raises £10m in Lloyds-led round

Coadjute proptech
Image credit: Coadjute

London-based proptech company Coadjute has secured a £10m funding deal from three of the UK’s largest mortgage lenders.

Founded in 2018, Coadjute is a software firm that has developed a platform to connect parties involved in the property transaction process.

Coadjute’s blockchain-based platform is used by estate agents to track transactions.

The new funding round for Coadjute featured investments from major mortgage providers Lloyds Banking Group, Nationwide and NatWest, as well as proptech platform Rightmove.

“We’re delighted that the Coadjute network is now being backed by the biggest players in the UK property market, enabling us to further expand our offering and roll out to more home movers and the professionals that serve them,” said CEO Dan Salmons.

“Together with the estate agents, conveyancers and brokers joining the network, we hope to transform the experience of moving home in the UK, making it quicker, easier and safer for everyone in the future.”

The investment was led by Lloyds, which contributed £3m towards the round.

Lloyds Banking Group’s managing director of intermediaries, Esther Dijkstra, said Coadjute was “transforming the house buying process by developing technology which brings everyone involved together securely, so homes can change hands smoothly and quickly and people can start enjoying their new home as soon as possible”.

Coadjute previously raised £4m in a Praetura Ventures-led funding round in March 2023.