MDR LAB Spotlight on... Thirdfort

Posted on 31 August 2018

Thirdfort is a secure payment platform for residential property transactions. Founded in September 2017 and London headquartered, Thirdfort is addressing the highly inefficient and insecure methods money flows through when properties are purchased. We began looking at this transaction after learning our friend was defrauded out of £25k when buying a house last year.

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MDR LAB Spotlight on… Thirdfort

Ollie Thornton-Berry and Jack Bidgood

Co-Founder, Thirdfort

I’m Ollie and I am Jack.  We’re Thirdfort. 

 

Jack Bidgood

Co-Founder,Thirdfort

We first realised there was a problem when a friend of ours got defrauded out of £25,000 when they were trying to buy a flat in London. 

 

Oliver Thornton-Berry

Co-Founder, Thirdfort

Buying a house is very stressful there is a huge amount of fraud goes on and it is a huge headache buying a property in the UK.

 

To solve it we are building a secure payment platform combining digital on-board verification.  The value of the LAB was being able to speak to property lawyers on a daily basis, getting constant feedback on our product and then making very helpful introductions to other participants in the property transaction journey.

 

Jack Bidgood

Co-Founder, Thirdfort

We also found it incredibly helpful how Mishcon lawyers were able to tell us exactly which pain points were the most acute during the transaction.

Oliver Thornton-Berry

Co-Founder, Thirdfort

But everyone has been so, so open with us and with technology.

Jack Bidgood

Co-Founder, Thirdfort

We have come and learnt an enormous amount about property transaction and really progressed our business.  We are now leaving the LAB with a product that we can show to lawyers which is much further advanced that we had expected to be.     

MDR LAB

lab.mdr.london

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