Article first published 18th January 2023. Amended 28th April 2023 following MyNextBox’s rebrand to Martello.
Proptech start-up MyNestBox is gathering momentum in its mission to revolutionise the searches process for conveyancers following a successful £1.3 million seed round.
The digital platform and API connects thousands of data sources to speed up home buying through interactive and data-led on-demand searches for property lawyers. Searches are currently supplied as large PDF documents containing all the information a homebuyer (and their lender) need to know, such as flood risk, subsidence, coal mining, and public rights of way. Since launching in beta, MyNestBox on the other hand supplies the data instantly to the lawyer.
This is all one step closer following a successful £1.3 million seed round led by Fuel Ventures, alongside backing from numerous property law firms. MyNestBox also has letters of intent exceeding £1 million annually, to be realised in 2023.
The platform was co-founded by proptech and software entrepreneurs Henry Crosby PhD. and Adam Rogers. Henry, who is the company’s founder and CEO, says the idea for MyNestBox was prompted after he bought his first home, which took six months from offer to completion. Henry knew that his experience working for proptech start-ups could overcome a significant chunk of this.
He met Adam in 2020. With Adam’s personal experience of buying a home being no better, as well as his years of building products on the internet, he was immediately taken with Henry’s vision. Whilst speaking with Henry, Adam said:
“Property lawyers are in tight supply, and many law firms are reluctantly turning away business daily because they are struggling to recruit new talent. As a result, means that some law firms are looking at ways to use technology to increase their capacity, whilst maintaining or improving service.
By supplying this data instantly, and in a more meaningful format than ever before, we are enabling, for some law firms, a 40% increase in capacity.”
In terms of the new funding, Henry says that MyNestBox plans to use it to bring on additional team members, and to take their first iteration of the product to market in Q1 2023.
To find out more about MyNestBox, visit mynestbox.co.uk.
This article was submitted to be published by MyNestBox. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.