PropTech startup When You Move secures £3 million funding for UK launch
21 May 2018 | 5556 views | 0
Source: When You Move
A pioneering proptech platform revolutionising the speed in which UK homebuyers and solicitors can process a property transaction launches to market today, fully automating the end-to-end process of UK conveyancing.
The latest tranche of funding is bolstered by prominent proptech VC, Fig, the backers of Smartr365, MOGO and Property Detective, bringing the total amount raised to £3m. Beyond Fig’s raise, funding has been secured across a hybrid network of friends and family, private HNW investors and incumbent shareholders.
With directed expansion plans in place for 2018/19, the finance will be used to build out the revolutionary solution’s customer excellence teams, scale up the Development team and solidify the company’s position as the “go to solution” for professionals involved in property purchases. With this in mind, key hires include Dan Rodgers, CRO, and Rob McKellar, Head of Conveyancing. Dan joins When You Move with an extensive background in B2B tech sales, playing pivotal roles in building global software and data businesses. Before joining When You Move as Chief Revenue Officer, Dan led commercial functions for tech businesses in the UK and across EMEA. Dan began his career within Thomson Reuters, holding numerous client facing roles before moving into management positions. Dan has extensive experience in building, managing and measuring high performing customer centric functions focused on delivering growth. Rob brings with him a wealth of legal and operational experience in residential conveyancing in both corporate and traditional practices, and has headed up legal departments delivering thousands of completions each month.
With a staggering three fifths (58%) of UK homebuyers deeming the process stressful and opaque, this year has seen When You Move’s national expansion come into steady fruition, having recently launched into Northern Ireland and Scotland. The early-stage growth is the first in a series of global launches facilitated with ease due to the international scalability of When You Move’s proprietary platform and infrastructure.
How it works
The desktop, android and iOS solution significantly speeds up the overall connectivity between all parties through to completion. Primarily an agent and conveyancer facing solution, When You Move also provide an innovative B2C interface, banishing paper-trails and manual chase-ups for all parties involved in the end to end - and remarkably offline - process of home-buying and selling. From agent and broker to conveyancer and end-customer, all parties gain access to one integrated platform, enabling real-time updates and full transparency to progress a purchase or sale. Given the cumbersome 82 stages that can extend a potential UK house transaction to an average of 91 days - the process is transformed immeasurably.
Today’s launch marks enhanced product features from When You Move’s previous beta iteration, including a star-rating functionality that enables customers to garnish an impartial review of their service whilst the ‘Capacity Indicator’ highlights a conveyancer’s actual capacity for a potential case, , empowering the UK’s home-buying and selling population to a yet unseen extent. Thanks to its recent partnership with the financial services arm of LSL PLC, When You Move’s platform can facilitate thousands of cases, offering real-time updates, document upload and verification functionality, plus real-time case-tracking to progressive industry partners.
Automating elements of the process in a manner that revolutionises one of the UK’s most offline and outdated sectors, the When You Move technology enables a significant reduction in referral chasing, case tracking and manual uploading. Already benefiting from the service, a selection of the UK’s most respected legal partners, specialising in residential conveyancing, have partnered with the transformative technology, including Leadenhall Law Group, Gordons Property Lawyers and Right Choice Conveyancing.
Simon Bath, CEO and Founder said, “This is a really exciting time for the business, from launching in a range of new locations to increasing the number of features that we offer. We’ve utilised a number of investment rounds to achieve some great milestones that we’re really proud of, and today’s launch marks a significant shift in our growth plans. When You Move is primed to enable conveyancing firms, mortgage brokers and estate agents to effortlessly provide information to one another and, in doing so, free them up to perform the important jobs rather than filing paper work and chasing other parties.”