openmoove secures £700,000 backing to scale prop-tech platform

Daniel Bevan - Editor

Subscribe to the Businessin Wales daily newsletter for FREE here.

Cardiff-based prop-tech start-up openmoove has secured £700,000 in equity funding to accelerate growth, expand its team and roll out its platform across the UK property sector.

The investment round was led by the Development Bank of Wales, which committed £350,000 through its Wales Technology Fund.

This was matched by £335,000 from early-stage venture firm HAATCH and a syndicate of Welsh angel investors.

Founded in 2024 by Ross McKenzie and Cai Gwinnutt, openmoove has developed a B2B platform aimed at streamlining workflows for estate agents, conveyancers and mortgage brokers.

The technology is designed to reduce administrative burdens, improve communication and simplify property transactions.

The business has spent the past 18 months developing and testing the platform with early customers, while also securing commercial interest from major estate agency groups and conveyancers.

The new funding will support further product development, go-to-market activity and wider adoption.

The company expects to create six new jobs in Cardiff as part of its expansion plans, building a specialist team to support its next phase of growth.

Chief Executive, Ross McKenzie, said: “We’ve spent the last 18 months building the product, working closely with estate agents, conveyancers and mortgage brokers, and proving there is real demand for a better way to manage the property transaction process.

“This investment gives us the backing to scale up, build our team in Cardiff and start rolling the platform out more widely.

“We’re proud to be building openmoove in Wales.

“This is a Welsh business, founded by two people who have grown up and built their careers here, and we’re excited to be creating jobs in Cardiff as we move into the next phase of growth.”

Chief Technology Officer, Cai Gwinnutt, added: “Our focus has been on creating technology that fits around the systems professionals already use, rather than forcing them to change behaviour or adopt a completely new way of working.

“We’ve developed a market-ready product, tested it with early customers and are now in a strong position to accelerate our growth.

“This funding allows us to keep building with intent — expanding the team, strengthening the platform and taking a product that will improve the way property transactions happen.”

Mike Rees, Investment Executive at the Development Bank of Wales, said: “Ross and Cai have combined deep sector knowledge with strong technical expertise to build a compelling platform in a large and important market.

“They have made significant progress in a short space of time, developing the product, securing early commercial interest and setting out a clear route to growth.

“Our investment from the Wales Technology Fund will help openmoove scale from Cardiff, create new jobs and build on the commercial foundations already in place.

“It is also encouraging to be investing alongside HAATCH again, demonstrating the value of co-investment in supporting ambitious Welsh businesses with high-growth potential.”

The Wales Technology Seed Fund II, a £20m fund managed by the Development Bank of Wales, provides equity investments of between £100,000 and £350,000 to Welsh technology businesses at proof-of-concept stage.

Since 2017, the bank has supported more than 300 tech ventures, investing over £97m and unlocking an additional £210m in co-investment.