Amro Partners, the Build to Rent and student accommodation operator, has launched a venture capital arm investing in PropTech and FinTech.
Amro is seeking to make 10 new investments over the next year - and the first is Coadjute, which aims to reduce inefficiencies in residential property transactions by digitally connecting buyers, sellers, estate agents, conveyancers, surveyors, mortgage brokers and lenders.
Using blockchain technology, Coadjute allows all parties in involved in a property transaction to securely share information and documents through their existing software.
It claims this cuts costs, reduces the risk of fall-throughs and speeds up the process of buying and selling homes.
The new investment funding will enable Coadjute to invest in its business to business team.
Ami Kotecha, Head of Venture Investments at Amro Partners and Director on the Board of the UK Proptech Association, says: “Customer and end-user experience is a key theme of our venture investment strategy, and our investment in Coadjute encapsulates that commitment.
“There are around one million transactions in the UK housing market every year, with a home being the single largest asset for many people. A vast majority of those transactions are conducted using semi-automated, duplicative processes that make buying or selling property expensive and fraught with friction and risk.
“In addition to our capital investment, we look forward to supporting Coadjute with residential sector insights and industry-wide connections.”
Dan Salmons, chief executive of Coadjute, adds: “With their deep expertise in the property market, they bring first-hand knowledge of the industry and share our passion for making the process of buying and selling property radically better through digital connectivity.”