Yourkeys helps housebuilders during crisis, with free digital sales system
Source: Housebuilder & Developer
Date: 27th March 2020
Yourkeys have just closed their latest funding round of £2.9M bringing the total investment to £6.3M in three years. Their real-time transactional and data platform is used by housebuilders and estate agents to rapidly accelerate the property sales process while giving all stakeholders visibility of the transaction in real-time. They recently hit the headlines for both achieving the UK’s first fully digital transaction and then a stream of sales reaching exchange of contracts in just seven days.
The funding is ideal timing for Yourkeys, who now have the financial buffer for them to help & support housebuilders during this crisis. With face-to-face viewings now being restricted & undoubtedly reducing in numbers, it has never been more important for housebuilders to:
- Use online channels to onboard buyers
- Accelerate sales to generate cash flow
- Reduce the number of sales that fall through
- Manage the sales process cost-effectively
Yourkeys’ first move has been to make their platform completely FREE of licence fees for all UK housebuilders for six months with no strings attached. Using the Yourkeys platform, Housebuilders and Estate Agents can send links to their buyers who can complete reservations entirely online – Including all AML, ID/address verification, document signing, payments and source of funds checks. This technology allows negotiations to happen via conference calls and then the actual transaction to take place digitally.
Many housebuilders have been considering following the lead of Redrow, who now sell almost 45 per cent of their homes through their online reservation system ‘My Redrow’, which, during this time of crisis, has seen a massive spike to 95 per cent of reservations.
Yourkeys not only allows housebuilders and estate agents to process reservations online but is directly integrated into over 2,000 conveyancers and mortgage brokers meaning real-time sales progression updates are fed back into the Yourkeys platform.
Yourkeys CEO, Riccardo Iannucci-Dawson, stated,
“We’re extremely proud to have closed our funding round with an amazing calibre of investors. However, our immediate objective is to get our product into the hands of as many housebuilders and estate agents as possible to help them digitise their processes and continue operating during these tough times. Our technology enables sellers to onboard buyers in minutes and entirely digitally. We realise this is a critical time for the sector, but we started this business for the love of the industry, and we’ll fight tooth and nail to help our clients through it.”
CEO of Highgate Asset Management, Kai Ranjan, one of Yourkeys’ investors, stated:
“I’ve been impressed with the growth of Yourkeys over the last two years and have seen how they have digitised the entire sales process to save weeks of wasted time. Housebuilders need to digitise their processes to keep up with the demands of their customers. We think Yourkeys represents a big step towards that change.”
Another of Yourkeys’ investors, Paul Sonabend, Chairman of Relendex, an alternative finance platform funding loans for residential and commercial property, stated,
“We love the visibility that the Yourkeys platform brings to property sales. It will make developments easier to finance and reduce interest costs by accelerating the sales cycle.”