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Rentredi Acquires Erentpayment And Paymentreport

Aug 08, 2023•almost 2 years ago

Acquiring Company

Rentredi

Acquired Company

PaymentReport

Property ManagementFintechReal EstateSaasSoftware

Description

PropTech leader RentRedi has acquired eRentPayment and PaymentReport, further enhancing its award-winning rental management software that simplifies the renting process for both landlords and renters. The acquisition results in an expansion of the RentRedi team, along with providing substantial growth to the company's subscribers base. In addition, the deal provides eRentPayment customers with access to RentRedi's more robust feature set.

Company Information

Company

Rentredi

About

RentRedi offers an award-winning, cloud-based rental management platform that simplifies the renting process for landlords and renters by automating and streamlining processes. For landlords, RentRedi provides all-in-one web and mobile apps to collect rent, list and market vacancies, find and screen tenants, sign leases, and manage maintenance and accounting. For tenants, RentRedi's easy-to-use mobile app allows them to pay rent, set up auto-pay, build credit by reporting rent payments to major credit agencies, prequalify and sign leases, and submit maintenance requests through Latchel. Founded in 2016, RentRedi is VC-backed and a proven leader in the PropTech market, recently earning recognition as a Capterra "Established Player," a G2 High Performer and a G2 Momentum Leader based on the software's user ratings and popularity. To date, RentRedi has more than $15.5 billion in assets under management and over 25,000 subscribers. The company partners with other technology leaders such as Zillow, REI Hub, Realtor.com, Plaid, Stripe, and Sure Insurance to create the best customer experience possible. For more information visit RentRedi.com. SOURCE RentRedi

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed