MoveGenius, the onboarding platform aiming to halve fall-throughs and reduce the time to exchange by as much as 40%, has secured £350,000 in pre-seed funding.
The ambitious start-up, which was founded only four months ago by ex-Oxford lawyer Hannah Nicholson (pictured), aims to integrate with CRMs. To that end, MoveGenius is in discussions with three of the largest portals and has already secured a large commercial contract with Zoopla to integrate with its CRM in January.
The “sophisticated and bespoke” platform plans a fast-track onboarding process which will provide better information at the point of sale, including upfront legal packs.
This will look to provide a “single source of truth” by leveraging the benefits of blockchain technology, lessening the administrative workload on property professionals through the use of digitised legal forms, as well as reducing instances of inaccuracy and fraud.
“We are very excited for our launch in January. We have some exciting commercial contracts to announce and we are scaling at a rapid pace after our fundraise,” Nicholson, founder of MoveGenius, told Today’s Conveyancer.
Estate agents will be charged on a subscription basis depending on the number of monthly transactions – but MoveGenius says the platform can save agents up to £2,000 per transaction, a saving that will inevitably be passed in part to homemovers.
The £350,000 funding secured by MoveGenius gives the start-up a valuation of £3.5 million – a striking achievement given the economic climate.
The round was led by Octopus Ventures through its pre-seed First Cheque Fund, along with family offices. Each invested £100,000. The remaining £150,000 came from funding raised through the Seed Enterprise Investment Scheme.
The company also completed Block Dojo’s accelerator programme in July, a blockchain-focused incubator which helps start-ups refine their products and develop further. Jay Gujral, Managing Director UK of Block Dojo, said:
“When Hannah came to Block Dojo, we knew that we had the skills within the incubator to help her get MoveGenius to the next stage. We are incredibly proud of the progress so far and cannot wait to see what the future holds!”
What’s more, MoveGenius also recently announced the hiring of new CTO Leo Gilmour and Head of Design Lucia Gore, constituting an all-female team of three.
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