UK’s Goodlord, a proptech company that wants to improve the renting experience, announced that it has acquired London-based fintech app Acasa for an undisclosed amount. The company says the acquisition will help Goodlord expand the range of its services for letting agents and their landlords and tenants.
What does Acasa offer?
Founded in 2013 by Nick Katz and Vasanth Subramanian, Acasa is a fintech platform that allows tenants to manage household bills and split costs between housemates easily.
Besides its services, the company also made a commitment of giving 1 per cent of its revenue to charitable and social causes in the housing space. It does that by partnering with Crisis, the national charity for homeless people. Both companies are looking to eradicate homelessness.
Currently, Acasa’s platform has a user base of over 200,000 tenants who use the tech to pay for and split bills. To date, nearly $1B of household expenditure has been tracked through the app.
How will this acquisition help Goodlord?
The acquisition will see Goodlord incorporate the tech into its existing offering. It will be used to add value to tenants using the Goodlord platform and create new opportunities for agents to engage with tenants and to earn commission from a wider range of tenancy products and move-in services, such as simplified utility switching.
Tom Mundy, COO of Goodlord, says, “We’re delighted to be acquiring Acasa and bringing it into the Goodlord ecosystem. Our platform offers a modern customer experience to tenants on behalf of agents, making the rental process smoother and more enjoyable. For letting agents, it will make offering additional services – such as utility switching and broadband set-up – even easier, whilst enabling them to benefit from even higher conversion rates and commissions.”
Mundy adds, “This news represents another step forward in our plan to build the sector’s strongest end-to-end offering; one which saves agents money, time, and hassle while modernising the rental experience for all.”
According to Goodlord, this is their second acquisition led by the Goodlord group in the past 18 months. In July 2020, Goodlord acquired referencing software vendor Vouch in a move that created a new market leader in lettings software.
Nick Katz, FRICS, co-founder and CEO of Acasa, says, “We’re excited that our technology will now be a part of the market leader in the residential rental property market in the UK; this will enable our purpose and our product to reach more tenants than ever before. Together with Goodlord, we will be able to carry on our mission to make the experience of moving in, managing, and moving on as delightful as it should be.”
Founded in 2014 by Philip Mundy, Richard White, and Tom Mundy, Goodlord is a property technology company that brings together the core elements of the lettings process in one integrated online platform.
The company claims to have improved the renting process for agents, landlords, and tenants alike while integrating products and services at the optimal time for improved conversion rates and profits. Currently, the proptech company has witnessed rapid growth and processes over 20,000 tenancies per month.