Proptech firm promising to ‘dramatically’ reduce time to sell wins £1.2m

first_imgHome » News » Proptech firm promising to ‘dramatically’ reduce time to sell wins £1.2m previous nextProptechProptech firm promising to ‘dramatically’ reduce time to sell wins £1.2mTwo leading estate agents are part of funding round for Orbital Witness, which is part of Land Registry efforts to reduce conveyancing from weeks to days.Nigel Lewis16th May 201902,712 Views Two leading estate agencies are part of a fund-raising pool that has today helped find £1.2 million in seed funding for a ground-breaking conveyancing disruptor.JLL’s proptech subsidiary Spark and London estate agency LiFE Residential’s tech arm have invested the money alongside cash from leading early-stage fund Seedcamp.The start-up is Orbital Witness founded by Ed Boule and Will Pearce, which has been one of the key participants in the Land Registry’s attempts to inject tech into the home buying process and drastically reduce transaction times.Obital Witness uses tech to help conveyancers and solicitors ‘de-risk’ property purchases automatically by spotting potential problems and therefore speeding up transactions by giving title and local searches a ‘clean bill of health’.Weeks to daysIts service is one of the key planks in the emerging potential in the Land Registry’s Digital Street project which, it is claimed, will soon reduce property transactions from weeks to days.Orbital Witness’s tech is being piloted by leading conveyancing firms including Mishcon de Reya, Clifford Chance, Reed Smith and Macfarlanes.“A key part of our technology strategy is to use cutting edge tools to deliver client services faster, better and more efficiently,” says Nick Kirby from Mishcon de Reya.“Orbital Witness does exactly that – it allows us to provide meaningful insights to our clients in an instant.”Jonathan Werth, Managing Director of LiFE Ventures (left), says he has been watching Orbital Witness for several months and “really struggled to find a reason not to invest”. “We understood the product from the beginning and the value it brings to all parties involved in the property transaction process.”Land Registry proptech LIFE Residential Orbital Witness JLL jonathan werth May 16, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img

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