UK law firm Muve raises £1.1 million to modernise real estate legal processes with AI
April 29, 2020
Muve, a technology-forward law firm based just outside London, has raised £1.1 million to further modernise the legal practice of conveyancing, which is said to be a £1.75 billion market in the UK alone. The round was led by Origin Capital, the Angel Co-Fund and MI Investment. Tim de Vere Green, CEO of Origin Capital, and William Berry, director of MI Investment, will join the firm’s board as non-executive directors.
Conveyancing is the transfer of property titles from one owner to another, or the granting of a property encumbrance such as a mortgage or lien. Muve aims to provide a client experience that’s “fit for the 21st century” — complete with online registration and customer portals, account managers, service guarantees, and a dose of AI to process all the documents.
With the new funding, the Richmond-based firm will build “one of the largest estate agency field sales teams in the UK legal market”, further invest in automation (including its muveAI document review platform), and monetise other data services related to property transactions.
Paul Fauset of the Angel Co-Fund commented: “It is especially encouraging at this time to see Muve, an innovation-led company, raise the funds that can allow them to further develop the technology and business model so they are able to thrive when markets normalise.”
You can read the full announcement on the Tech.eu website here