Property management platform makes acquisition set to 'disrupt' online rental industry
London-based Howsy has acquired online letting agent Urban.co.uk for an undisclosed sum.
This acquisition of Urban will allow Howsy to grow substantially and offer broader services whilst maintaining a focus on customer service and delivering great value for landlords.
The acquisition of Urban is said to mark Howsy’s first move following its announcement of a £5m investment led by Skybound Capital.
Founder and CEO of Howsy, Calum Brannan, commented on the deal: “With so much focus in the property industry on the buying and selling market, the rental space is often overlooked.
“Howsy benefits from stable recurring revenue, mixed with cutting edge technology so we can reduce the costs to operate by up to 70 per cent compared to high street agents.
“Both businesses bring a different set of skills on which they’ve both built a great degree of success but by combining these, we are able to create a lettings powerhouse that will provide a complete and unrivaled offering to UK landlords.”
Urban concentrates on a self-service online tenant find solution, while Howsy provides an end-to-end property management platform for UK landlords. This acquisition could make Howsy one of the biggest digital property management platforms in the UK.
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