Another NewMod business has arrived, this time Conveyd, which has raised £2.5m in Seed funding to massively improve the legal process around residential property sales, or as it’s called in the UK ‘conveyancing’. Completions can now take 6 weeks on average – which is a huge acceleration.
As with other NewMod legal businesses, it combines AI with subject matter experts to provide increased efficiency. The company’s approach especially makes sense in this field, as conveyancing is already largely a fixed fee area of work. I.e. the faster you go – within reason – the more customers you serve and the more the business grows. Going slow in a ‘techless‘ way just upsets home buyers and adds little to the process except frustration.
‘By automating critical parts of the admin-heavy conveyancing process and putting home buyers in the driving seat, the technology promises to reduce the number of property chains collapsing and get people from offer to ownership in record time’, they explained.
They’ve been a bit under the radar after launching in March 2025, but look set to grow rapidly. They also added that they can do standard remortgaging transactions in under a day – again, a major acceleration compared to usual.
They also stressed that: ‘We’re not a marketplace. We don’t hand you off. We work with one trusted legal team who are regulated, handpicked, and with exclusive access to Conveyd. We bring the startup experience, smart automation, and speed. They handle the law. You get one seamless experience.’
And here’s some more detail on how it works:
- Conveyd combines purpose-built AI with specialist lawyers to handle the full end-to-end conveyancing journey.
- It handles onboarding the home buyer and preparing the case for completion.
- After customers upload key details about their transaction and being advised by the platform on what additional information is required, the AI automatically powers through a range of time-intensive administrative tasks in minutes that can take time-strapped conveyancing firms weeks.
- Around 50% of the conveyancing process is handled by the platform’s purpose-built AI and automated systems.
- This includes ID checks, producing mortgage reports, requesting searches, producing search reports, ensuring essential documents are in place, and chasing third-parties on outstanding actions.
However, as noted above – and like all the main NewMods coming to market – they are not trying to 100% automate things, they know they need human experts in the loop, and as such ‘lawyers allocated to the transaction are free to focus on areas that require more complex legal reasoning, such as providing legal advice on specific queries, registering title deeds with the land registry, and handling money transfers’.
The company was founded by Manasi Kulkarni, a former engineering leader at Monzo and Thoughtworks, and Stephen Cowley, former engineering leader at Thoughtworks (see main pic). After a ‘gruelling’ six-month delay when purchasing their first home together – which nearly saw the whole deal fall through – they set out to streamline the ‘archaic process and eliminate costly delays’ for other buyers, they explained.
The round was led by Eka Ventures and joined by Portfolio Ventures, alongside existing investors Founders Factory and Angels including: Passion Capital Founder, Eileen Burbidge; CEO of Sesame Bankhall Group, Richard Harrison, and fintech investor, Mark Ransford.
Commenting on the company’s goals, Kulkarni, CEO and Co-Founder of Conveyd, said: ‘Our AI platform can complete in minutes what a traditional conveyancer would spend weeks on. This AI-powered approach removes lengthy onboarding and waiting around for documents to be manually reviewed.
‘It means lawyers are free to focus on what they’ve been trained to do: value-add legal work, not glorified admin. We’re creating a completely new way of handling conveyancing – the impact we’ve had so far is just the tip of the iceberg.’
Is this a big deal?
Yes! In the UK, as in most countries, the majority of people never engage a lawyer aside from dealing with probate or home purchases. Conveyancing is still incredibly slow and cumbersome, despite the fact that it’s a huge market and there are many opportunities to take marketshare….if you can provide a better approach.
Thus, it’s been crying out for someone to provide a NewMod platform with AI at its centre to improve things. There are companies such as Orbital, which does something similar in terms of leveraging AI, and ThirdFort handles much of the ID checking aspects already as well….but, this model combines AI and legal talent in one offering. That’s the crucial difference. And as they note, they are not a marketplace where customers are farmed out to random law firms to do the work. The strategy is to provide AI and legal input in one synthesized offering.
Plus, it’s another example of taking a NewMod approach, which can be defined as: if AI exists, then how do you build a law firm today? The short answer is: you think in a customer-centric way and in a way where technology is not fighting against your business model, but rather is at the centre of it.
More about Conveyd here.
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