Movewise has announced a funding round of £600,000 - taking the total amount raised to £1.1 million.

The UK PropTech firm, which launched in 2018, manages the entire sales process for vendors, leveraging data to identify the best local estate agents for a property.

Existing lead investors Hambro Perks and Indeed co-founder Paul Forster were joined by new angel investors, including LoveFilm co-founder Simon Franks.

The money will be used to upgrade the end-to-end property sales technology platform and expand into the legal and landlord sectors.

Steffen Schwark recently joined as chief technology officer to lead the product and development teams.

The business has listed more than £60 million of UK properties in the past year, with a sales rate of 80 per cent and average time to sell of four months.

Tom Scarborough, chief executive officer of Movewise, said: “Approximately a third of properties will sell quickly in the first month, but two thirds of properties won’t be so lucky, which is when sole agents revert to price reductions, to the detriment of the vendor.

“Our mission is to ensure all property sellers achieve the best price they can for their property.”

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