MyNestBox has raised £1.3m in seed round led by Fuel Ventures
MyNestBox, a digital platform and API that connects thousands of data sources to speed up home buying, has raised a £1.3m seed round led by Fuel Ventures, alongside backing from numerous property law firms. MyNestBox features interactive and data-led on-demand “searches” for property lawyers.
“Searches” are typically supplied as large PDF documents containing all the information a home buyer (and their lender) need to know, such as flood risk, subsidence, coal mining, and public rights of way.
MyNestBox, on the other hand, supplies the raw data instantly to the lawyer. MyNestBox have letters of intent exceeding one million pounds annually, to be realised in 2023.
The platform was co-founded by proptech and software entrepreneurs Henry Crosby PhD. and Adam Rogers. Henry, who is the company’s Founder and CEO, says the idea for MyNestBox was prompted after he bought his first home, which took six months from offer to completion. Henry knew that his experience working for Proptech start-ups could overcome a significant chunk of this.
He met Adam in 2020. With Adam’s personal experience of buying a home being no better, as well as his years of building products on the internet, he was immediately taken with Henry’s vision.
Whilst speaking with Henry, he said: “Property lawyers are in tight supply, and many law firms are reluctantly turning away business because they are struggling to recruit new talent.
“As a result, some law firms are looking at ways to use technology to increase their capacity whilst improving service. By supplying this data instantly, and in a more meaningful format than ever before, we are enabling, for some law firms, a 40% increase in capacity.”