Conveyd has raised EUR 1.97m in seed funding, a contrarian vote of confidence in UK proptech and legal tech as broader venture markets remain selective and slower at Series A and beyond.
The London-based startup, which digitises and automates residential conveyancing, secured approximately USD 3.3m (around GBP 2.5m) from a syndicate led by Eka Ventures and Portfolio Ventures, alongside Founders Factory and prominent angels Eileen Burbidge, Richard Harrison and Mark Ransford.
A hot niche in a cooler market
While headlines focus on tightening venture flows into later-stage tech, Conveyd’s round underscores a clear exception: UK pre-seed and seed proptech remains active and competitive. Sector investors describe early-stage UK proptech as “on fire”, and this deal fits that pattern.
For mid-market-focused investors, the message is straightforward: capital is concentrating around narrowly defined, execution-heavy theses. Automating conveyancing — a legally complex, high-friction workflow that touches every property transaction — is precisely that kind of thesis.
Eka Ventures and Portfolio Ventures have been among the more active backers of early UK digital infrastructure plays. Their participation, alongside real-estate and fintech-savvy angels, signals that specialist investors are willing to back workflow automation in property even as they pull back from more generic consumer or marketplace bets.
Productivity play in a structurally inefficient market
Conveyd targets the UK’s chronically slow and opaque housing transaction process, where standard conveyancing often takes 8–12 weeks, stalls chains and injects risk into every deal. The company’s platform combines AI-driven process automation with a lawyer-led, fully digital service.
According to the company’s disclosed metrics, Conveyd:
- Automates key stages of conveyancing to complete transactions up to three times faster than traditional methods.
- Has already processed more than GBP 20m worth of property transactions.
- Achieves an average 7‑day completion time for remortgages.
- Reports a 4.8/5 customer satisfaction score.
The service offers real-time status updates, transparent pricing and digital document handling, aiming to remove the black box that frustrates both buyers and sellers. In a market where delays and failed transactions impose material costs on chains, agents and lenders, these metrics provide early proof that the model can compress timelines without sacrificing legal robustness.
Why this round matters for mid-market dealmakers
At EUR 1.97m, the raise sits at the lower end of the mid-market spectrum but is strategically relevant for several reasons:
- Legal workflows are moving centre stage. Conveyd’s positioning at the intersection of proptech and legal tech reflects a broader shift: investors are targeting regulated, document-heavy workflows that have resisted digitisation. Conveyancing is a logical bridgehead for wider legal process automation.
- Execution, not vision, is being funded. The round comes with tangible traction — real transaction volume, materially shorter timelines and strong satisfaction scores. In the current environment, that level of operational proof is becoming a prerequisite even at seed.
- Verticalised infra over generic platforms. By owning the end-to-end conveyancing journey rather than just offering tooling, Conveyd builds infrastructure that can plug into estate agents, lenders and brokers. That vertical depth is where investors see durable value.
Use of proceeds: deepening the moat
Conveyd plans to deploy the seed capital to:
- Enhance its proprietary automation and AI stack for conveyancing.
- Expand operational capacity to handle higher transaction volumes.
- Broaden its market reach across the UK property ecosystem.
In practice, that means strengthening the technology that underpins its speed advantage and scaling the legal operations needed to support more complex chains and higher deal throughput.
Risks and what to watch
The main risks are executional and regulatory rather than financial at this stage:
- Regulatory and professional standards. Conveyancing is tightly regulated and reputation-sensitive. Any misstep could slow adoption. Conveyd’s lawyer-led model is a partial mitigant but will need continuous investment in compliance.
- Channel access. To scale beyond direct-to-consumer growth, Conveyd must secure durable distribution via estate agents, brokers and lenders, where incumbents and panel managers retain influence.
- Competitive response. Traditional conveyancers and newer digital entrants may accelerate their own automation efforts, compressing Conveyd’s speed advantage over time.
For now, the calibre of the investor syndicate and early performance data suggest that Conveyd has enough runway and backing to test its scalability thesis.
A clear signal from early-stage proptech
Conveyd’s seed round confirms that, even as broader European tech funding remains more cautious, specialist VCs are still writing meaningful cheques into early-stage infrastructure plays that remove friction from large, inefficient markets.
For mid-market dealmakers, the deal is a reminder that the real slowdown is not uniform: while generalist growth equity hesitates, focused seed capital continues to flow into UK proptech and legal tech platforms that can compress time, reduce risk and standardise historically manual processes.