Amro Partners launches proptech VC arm
Build-to-rent and PBSA investor Amro Partners has launched a venture capital arm in order to invest in proptech and fintech start-ups that are looking to solve pain points in property deal processes.
Amro’s first investment is in the residential property transaction platform Coadjute, which digitally connects buyers, sellers and professional parties on a single network.
Using blockchain technology, Coadjute is an open network which seeks to allow all parties involved in a property transaction to share information and documents through their existing software, cut costs, reduce the risk of fall-throughs and speed up the process of buying and selling homes.
Following three pilots, Coadjute will use this pre-Series A round of funding to invest in its B2B SaaS team and support the gear up to launch in the summer of 2021.
“Customer and end-user experience is a key theme of our venture investment strategy, and our investment in Coadjute encapsulates that commitment,” said Ami Kotecha, head of venture investments at Amro Partners and director on the board of the UK Proptech Association.
The deal is part of a multi-million-pound funding round and aims to help reduce inefficiencies in residential property transactions by digitally connecting buyers, sellers, estate agents, conveyancers, surveyors, mortgage brokers and lenders.
Amro intends to invest in segment-defining proptech and fintech start-ups that positively impact the built environment sector, with key themes being end-user experience, financial inclusion, climate and ESG metrics.
Backed by a family office, Amro said it is seeking to make 10 new investments over the next 12 months. The firm will focus on tech that has the capacity to make an impact on the environment sector: carbon reduction and sequestration, waste management, financial inclusion and customer-centric models that transform the user experience.