Client due diligence platform Thirdfort, which started out focused on property transactions, has acquired Homeppl’s rental check system. The acquisition supports Thirdfort’s strategy to expand its client due diligence (CDD) capabilities for legal, property, and accounting professionals.
Thirdfort, which was an early member of Mishcon de Reya’s MDR Lab, said the deal – the latest in a string of legal tech and adjacent deals since the start of the year across various segments of the market – ‘strengthens Thirdfort’s position to serve the evolving needs of agents and property investors by offering a unified platform that delivers comprehensive, best-in-class CDD solutions for both sales and lettings’.
Thirdfort is used by more than 1,500 regulated businesses, including 230 estate agents, and can provide tenant checks, protect clients from fraud in the lettings market, and seeks to become a one-stop shop for CDD across the property sector.
Meanwhile, Homeppl provides a rental check tool, empowering letting agents, Build-to-Rent (BTR) developments, and homeowners, to protect against tenancy fraud.
The company said that it has ‘unique tenant checks that use innovative technology to identify fraudulent tenant applications’. Each tenant goes through 150-plus fraud tests, including email tracking, reaction tests, data enrichment, font detection, and authority and integrity tests, they added.
Olly Thornton-Berry, co-founder and CEO at Thirdfort, said: ‘With the acquisition of Homeppl’s rental check platform, we will further our mission to protect society from fraud and money laundering. Homeppl has built an outstanding product with its unique and market-leading rental check and fraud detection solution for lettings. The cutting-edge solution complements our platform, making client due diligence simple and secure for all property, legal and accounting professionals.’
Congrats to the team, AL remembers meeting them not long after this site got started. Nice to see how they’ve grown since then.