Rightmove Joins Major Banks in Investing in PropTech Coadjute

UK market leader Rightmove has joined major lenders and banks including Nationwide, Lloyds and NatWest in investing in PropTech Coadjute as part of a £10m strategic investment. Rightmove's contribution remains undisclosed.

Coadjute is a proptech company that connects people and data to reduce transaction times. Coadjute's features include collating property information, tracking progress, sharing digital ID, sending messages and documents, and signing forms.

John Svanstrom, CEO at Rightmove, said:

"We see huge potential to digitise and improve the experience of moving home for consumers.

"We believe Coadjute’s secure and data-driven technology solution can meaningfully remove some of the friction and frustration that lengthy property transactions bring. For Rightmove this is also an investment into the potential of a more efficient industry, and to support our agent customers’ further business success.

"At Rightmove, we are excited to support the Coadjute team in their quest to build a next generation tech and data infrastructure for the UK property market."

Rightmove is putting its money where its mouth is. Svanstrom specifically mentioned the market leader's desire to "further digitise the property sector".