At the start of the month real estate DLT startup Coadjute announced a funding round led by Lloyds Bank, including two other major banks Natwest and Nationwide, and the largest UK property website Rightmove. Since then things have snowballed with two major estate agencies, Foxtons and The Property Franchise Group (TPFG) announcing they will use the platform to digitize the paperwork and communications involved in house sales.
Coadjute is a workflow solution that enables data sharing about a sale between estate agents, conveyancers (lawyers), mortgage brokers and banks. Several UK real estate software suppliers have integrated with the platform.
Meanwhile, TPFG spent five months piloting the solution at 12 branches and found it saved 25 minutes per transaction on average. It is the largest franchised estate agency in the UK, with 930 locations and 16 brands.
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