Law firm Muve has announced the successful completion of a £1.1m equity funding round to finance its further expansion into the £1.75bn UK conveyancing law market.

Muve will use part of the new funding to create what it says will be one of the largest estate agency field sales teams in the UK legal market.

Although plans have been delayed a little by the Covid crisis, the company expects to recruit from June to October and to create a team of 10-15 people dedicated to estate agency sales and support.

The company will further invest in automation and will monetise additional data services related to property transactions.

The three core investors in the round are Origin Capital, which led the transaction, the Angel Co-Fund, and MI Investment Holding Ltd.

The new investors will provide support to the Board which currently consists of the three Muve Founders – David Jabbari, Dan Watkins and Claus Werner – who have senior City law and entrepreneurial backgrounds.

Tim de Vere Green, CEO of Origin Capital, and William Berry, Director of MI Investment Holding Ltd will join the Board as non-executive directors.

Muve says that it supports over 250 home movers every month with residential conveyancing and that the company’s success is built on three pillars:

Process automation through technology;

100% ownership of the lowest cost off-shoring facility in the UK conveyancing market;

Being the first law firm to guarantee home buyers an exchange of contracts within as little as 25 days, or return its fees.

EYE asked Muve how the timescaling of the money back offer works in practice.

We were told that “At the point of on-boarding the client our sales professionals check all the details of the transactions (e.g. leasehold or freehold, mortgage etc), and also local search times, and apply a formula to achieve a time scale.”

Conveyancing firm that guarantees quick exchanges or money back ‘beating its own targets’