Property tech firm Openmoove looking to scale on equity round boost

It has secured backing in a round led by the Development Bank of Wales

Cardiff-based property tech venture Openmoove is looking to scale-up following a £700,000 equity investment round boost.

The tech start-up has secured £350,000 equity from the £20m Wales Technology Fund, managed by the Development Bank of Wales, matched with a £335,000 investment from early-stage venture firm, HAATCH and a group of Welsh angel investors. The deal marks the second time HAATCH and the Development Bank have invested together.

Founded in 2024 by Ross McKenzie and Cai Gwinnutt, Openmoove has developed a business to business platform designed to streamline the workflows of estate agents, conveyancers and mortgage brokers, helping reduce administration, improve communication and make property transactions easier to manage for all parties involved.

It has spent the last 18 months building and refining its product, testing it with early customers and securing commercial interest from major estate agency groups and conveyancers. The investment will now enable the business to scale up its team, accelerate market activity and roll out the platform more widely.

The funding is expected to create six jobs in Cardiff in the coming months. Chief executive Mr McKenzie brings extensive experience in the property sector, having held senior roles at Purplebricks and Countrywide before founding Cardiff-based estate agency Isla-Alexander. The firm’s chief technology officer Mr Gwinnutt, brings 20 years of experience across start-ups and engineering, with previous roles including OnExamination, Amplyfi, Cyber Innovation Hub and Tramshed Tech.

Mr 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.”

Mr 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.”