Zoopla Founder Alex Chesterman Invests in UK PropTech Thirdfort

April 13, 2021

UK based PropTech company Thirdfort has secured a £1.5m funding round to continue its mission to remove friction from the property conveyancing process. The company, whose application is used by some 500 legal companies in Britain, lets conveyancers identify a potential homebuyers ID and proof of funds in just a few minutes and helps some 30,000 clients move home each month.

Among investors in the round was Zoopla founder and noted businessman and entrepreneur Alex Chesterman whose backing will be seen as a real industry seal of approval for Thirdfort. Chesterman had runaway success with Zoopla before selling up to Silver Lake in 2018, he has also seen spectacular progress with his used-car venture Cazoo which is slated to go public via a SPAC merger later this year.

Speaking of his new investment, Chesterman said: "My passion in business is for solving problems, and the team at Thirdfort has developed a product that tackles an issue affecting hundreds of thousands of us each year – the cumbersome process of buying and selling homes. This hasn’t changed for decades and is ripe for transformation, particularly around the compliance aspects that affect not just consumers and their lawyers, but also agents, brokers and lenders."

Olly Thornton-Berry, co-founder and Managing Director of Thirdfort: “We’re using cutting edge technology to help lawyers and property professionals minimise fraud risk, whilst improving the client experience during life’s big moments. These tools have the backing of regulators, Government bodies, and a growing number of firms, and our objective is for Thirdfort to become the new standard in legal security, as well as expanding into adjacent markets such as the estate agent and mortgage space. That means building better products and doing so faster than ever, and we’re delighted that some of the UK’s leading angel investors support this strategy.”

With the latest round, Thirdfort takes its total of funds raised to some £4.2m which will be used to propel expansion in the property sector. The company is one of a new breed of UK PropTech startups whose products are starting to become mainstream and accepted as the industry standard in property transactions and this week's funding and the publicity and guidance which comes with having Chesterman on board will no doubt accelerate that process.

April 13, 2021
Since March 2020 Edmund's job has been to read about, write about, collect data on, analyse and generally know about real estate marketplaces and the companies that run them. Before that he worked at the aggregator Mitula Group (which became Lifull Connect) for five years.

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Cooperrocketacq
Rocket to Acquire Mr Cooper Mortgage Service for $9.4 Billion

Rocket Companies has announced a $9.4 billion all-share deal to acquire Mr. Cooper, the largest mortgage servicer in the United...

Read More
Scout24 German Houses 1
Scout24 Closes Another Data-Focused Acquisition

Germany-based marketplace operator Scout24 has continued its expansion into real estate data with the acquisition of Austrian proptech firm ImmoUnited....

Read More
People Roundup 28Mar 2
People Roundup: Aviv Group, Pisos.com, Kleinanzeigen, REA India, Anjuke

There have been several high profile C-suite moves in this week's People Roundup. We'll start in Europe...   Europe: Aviv...

Read More
Product Update 2025Mar28 3
Product and Services Roundup: Zoopla, ViewIt

This week's Product Roundup starts in the UK, where it's all about Zoopla...   UK: Zoopla's MyHome product is used...

Read More

Editor's Pick