ULS Technology, the provider of online digital platforms for the conveyancing and financial intermediary markets, saw revenues increase 48% to £10.2m in the six months to 30 September 2021.
The increase was fuelled by a number of factors including a renewed focus on its e–Conveyancer brand, which saw increased investment in people and technology as it expanded its footprint in both existing and new channels.
As such the brand has seen a 10% increase over 12 months in active Introducers using the platform, which has resulted in 28,865 conveyancing instructions.
Meanwhile, the DigitalMove platform has continued to progress with more than 90% of eConveyancer cases now enabled on the platform, resulting in DigitalMove handling more than 60,000 instructions to date.
Additionally, the Company is focusing on generating increasing traction outside of eConveyancer, underpinning a higher margin model.
The imminent pilot of an offer for estate agents is one of a number of strategic initiatives that will also service consumers and is showing positive preliminary results.
Jesper With-Fogstrup, CEO of ULS Technology plc, said: “I have now been in the business for almost a year and I’m delighted by the significant progress we have made. I am now even more certain that there is considerable opportunity to make the home moving process better for everyone, and we have the strategy and roadmap in place to be able to achieve this.
“We have established a new senior management team and recruited talent that will help us execute our ambitious delivery plans. We continue to invest in the technology we need to radically transform the home moving market and make it faster, simpler and easier for everyone involved.
“I am particularly pleased in the number of brokers who are actively using our platforms. eConveyancer performed strongly in the B2B channel and we continue to see strong flow to DigitalMove with over 60,000 cases now instructed. We are currently at an exciting stage where we are building and testing a number of products that will be launched in early 2022.”
