European property management technology platform provider Plentific has acquired housing compliance technology company X Tag. The terms of the deal were not disclosed.
X Tag offers tech solutions that empower housing providers to move away from reactive compliance processes - for things like gas safety and electric and fire door compliance - to proactive, data-driven approaches. Founded in 2014 in Liverpool, the company currently works with more than 50 social housing providers, local authorities, lettings agents, and property managers.
With the acquisition, Plentific’s platform posits that it will be able to offer the only end-to-end SaaS-enabled marketplace solution providing integrated repairs, maintenance, and compliance services in the UK and Germany.
Cem Savas, co-founder and CEO of Plentific, commented on the deal:
"Compliance is an issue that has skyrocketed up the agenda for housing providers in recent years. During our recent PropertyLab incubator, we found that a disconnect in approaches to reporting on compliance and a lack of data integration are a huge burden on housing providers. X Tag has been a driving force in digitising that entire process to improve outcomes for all. As part of our growth strategy, this acquisition will accelerate our product development in compliance, offering our clients the most comprehensive suite of management and maintenance services on the market."
Plentific is backed by A/O Proptech, Target Global, Round Hill Ventures and PiLabs.
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