Experienced Liverpool conveyancer Eddie Goldsmith secures £300,000 for his tech start-up which aims to make the home-buying process quicker and less stressful. Tony McDonough reports
Liverpool entrepreneur Eddie Goldsmith has secured £300,000 for his digital venture that aims to take the stress out of buying a home.
Eddie has worked in conveyancing for four decades. He was formerly a partner at law firm Goldsmith Williams. The process of buying a home, he says, is a “dreadful experience” for many people. His aim now to to transform the property-buying experience.
He set up YouConvey in 2021 and has secured £300,000 in funding via Nova Growth Capital, a so-called ‘co-foundery’ based in Liverpool. Nova attracts venture capital investment for start-ups in the healthtech, fintech and eGaming sectors.
It takes a stake in each start-up with venture capitalists also taking a stake. Nova provides entrepreneurs with mentorship and guidance. Utilising a team of designers, software engineers and marketers, it takes start-ups from idea, to product, to market.
YouConvey offers what it calls a “collaborative conveyancing service”. It allows homebuyers to complete admin tasks often assigned to busy conveyancers. Eddie says it could cut transaction times by up to eight weeks.
He told LBN: “Solictors are often not good business people. They have a tendency to take on too much work. This is frustrating for homebuyers who are often waiting on their solicitors. It is particularly stressful for first-time buyers who come into the process with no idea how it works.
“Buying a house is the biggest financial transaction most people will enter into in their lives. The whole process needs to be reformed but the Government isn’t interested. So I am asking ‘what does the customer want?’. This is a real passion of mine.”
Eddie is still very active in the conveyance sector. He is building up a network of conveyancing professionals who have borough in to his concept.
YouConvey customers get access to all the necessary documentation they need to complete on day one of their transaction. This allows them to take control of their conveyancing and bypass unnecessary delays.
They are still able to rely on professional support for all the legal aspects of the transaction from regulated conveyancers. And they have the added assistance of YouConvey advisors. They will guide them throughout the process and help them feel more engaged.
“By providing our customers with upfront information and with the help of our Home Mover Advisors, we are looking to improve the customer experience,” added Eddie. “We can reduce the timescales of a typical transaction and work better with all the stakeholders.”
Eddie will use the the funding from Nova to expand his team. He will hire additional people in sales and marketing. YouConvey has monthly targets and will aim to develop the service for a better customer experience. It will looks to rapidly grow the number of users.
“We’re delighted to have received this next round of investment from Nova Growth Capital,” said Eddie. “Without them we wouldn’t have been able to develop YouConvey from concept to launch as effectively as we have done.
“We’ve already had extremely positive feedback from customers, reaffirming that our service is a much needed one. I’m excited to see YouConvey grow and go from strength to strength with the support from Nova.”
Olivia Greenberg, chief growth officer at NOVA, also said: “We’ve been really pleased with the progress that Eddie and our team have made since our initial investment. The market has really responded to YouConvey. This round will allow us to take advantage of all of the great learnings we’ve made from our early users.”