Rightmove Invests in Coadjute with a £10m Collaboration

Rightmove is investing alongside Lloyds Banking Group, Nationwide, and NatWest in Coadjute, a property technology company from London, with a £10 million strategic investment. Coadjute’s network integrates estate agents, conveyancers, mortgage lenders, and the parties involved in property transactions, enabling them to share everything from property deeds to financial details quickly and securely.Lloyds Banking Group is the primary investor in this round, dedicating £3 million to Coadjute, increasing the total investment in the company to £23 million since its inception in 2018. While Coadjute revealed Lloyds’ contribution, they chose not to disclose how much the other partners, including Rightmove, contributed to the £10m total.

Rightmove also opted not to provide additional information about their investment when inquired. Coadjute’s latest financial report shows net assets have decreased over the past year. They intend to use the new funds to expand the network nationally and involve more mortgage brokers and lenders.

Dan Salmons, CEO of Coadjute, expressed his excitement about major UK property market players supporting the network, which aims to transform the home-moving experience in the UK.

Esther Dijkstra from Lloyds Banking Group emphasized their investment’s goal to simplify the home-buying process using Coadjute’s technology, while Henry Jordan from Nationwide highlighted the need to streamline the complex home-buying journey. Miguel Sard of NatWest expressed his support for the initiative to make home transactions smoother.

Rightmove’s CEO, Johan Svanstrom, sees great potential in Coadjute’s technology to digitalize and enhance the home-moving process for consumers, removing inefficiencies and paving the way for a more streamlined industry, which could benefit Rightmove’s agent customers.