Lettings software supplier Goodlord has acquired the hybrid referencing business Vouch. This acquisition will bring together two of the sector’s most dynamic players to give the 2,000+ clients of the two companies a wider choice of software products and access to an expanding lettings platform.
Vouch offers a fixed-cost hybrid referencing solution – saving agents time without the need for outsourcing, as well as providing access to commission based revenue streams. Goodlord’s award winning software allows agents to manage the whole pre-tenancy process in one place, including contract generation, digital payments, referencing, insurance, and distribution of legal documents.
Both businesses are growing at a rate of over 100% annually, with the pandemic driving increased demand across the lettings market for digitally-powered solutions that generate efficiency savings, open up new revenue streams and ensure regulatory compliance. Together, the group will be handling over 500,000 references per year on behalf of over 2,000 letting agencies.
The Vouch platform and the Goodlord platform will retain their separate brand identities and customers will see service carry on as normal. The two will however work closely to develop a wider choice of services and provide interoperability between their two platforms, including the integration of their API.
William Reeve, Goodlord CEO, commented, “This marks an exciting moment for both businesses and for the UK lettings sector. Together, we have the best technology in the industry, the best track record on growth, and we expect to become the market leader by the end of the year.
“We’ve been working hard to give customers a wider range of services and this merger will fast forward that process by at least 12 months.
“Jaime and Simon have built an impressive business in a very short space of time and I’m looking forward to working with them and their team on the next step of our journey.” Simon Tillyer, MD of Vouch, said, “We have always looked to work with the best people in the market and this tie-up will allow us to offer customers a fantastic end-to-end solution alongside our award-winning referencing platform.”