Slaughter and May advised Coadjute, the London-based property technology business, on its £10 million strategic funding round.
The round saw strategic investments from Lloyds Banking Group, Nationwide, NatWest and Rightmove and marked the first time that the UK’s three largest mortgage providers have come together to fund a property technology company.
Founded in 2018, Coadjute is a leading data network for the property market, designed to improve the speed, ease and security of buying and selling homes. Coadjute brings estate agents, conveyancers, mortgage lenders, buyers and sellers together onto a single network where all parties are verified, and data can be shared securely in a standardised way. The Coadjute network uses distributed ledger technology and is designed to sit behind the front-end systems businesses already use, securely linking all parties together.
Dan Salmons, CEO of Coadjute said: “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 rollout to more home movers and the professionals that serve them. We hope to transform the experience of moving home in the UK, making it quicker, easier and safer for everyone in the future".
Slaughter and May also advised Coadjute on an investment round in 2023 and provides ongoing advice to the company in respect of general legal matters
