Thirdfort acquires Homeppl's rental check platform
Published
Acquisition supports Thirdfort’s vision to offer a one-stop shop for client due diligence
Client due diligence platform Thirdfort has acquired Homeppl’s rental check platform, alongside the Homeppl brand. The acquisition supports Thirdfort’s vision to make client due diligence (CDD) simple and secure for legal, property, and accounting professionals. It 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.
The addition of Homeppl’s rental check platform enables Thirdfort to expand its product offering. Now, Thirdfort - which is used by 1500+ regulated businesses, including more than 230 estate agents - can provide tenant checks, protect clients from fraud in the lettings market, and become a one-stop shop for CDD across the property sector.
Homeppl has transformed the market with its rental check tool, empowering letting agents, Build-to-Rent (BTR) developments, and homeowners to protect against tenancy fraud. Its unique tenant checks use innovative technology to identify fraudulent tenant applications before they become costly, whilst making previously invisible rental applicants, such as internationals, students, and individuals with thin UK credit files, fully and easily accessible. Each tenant goes through 150 plus fraud tests, including email tracking, reaction tests, data enrichment, font detection, and authority and integrity tests.
Initially, the rental check platform will operate as Homeppl by Thirdfort. Over time, Thirdfort will integrate the product into its end-to-end client due diligence platform, allowing lettings, and residential and commercial clients to be verified and checked through Thirdfort.
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.”
“Property is a significant growth area for us, and we’ve consistently heard from our clients that they want a single platform to handle all their CDD needs across both sales and lettings. We can offer clients a truly unique end-to-end platform that does not exist elsewhere.”
Olly Thornton-Berry, co-founder and CEO at Thirdfort
The remaining Homeppl business will rebrand to Fraud Finder. It will focus on scaling its industry-agnostic machine learning document risk analysis product of the same name. Fraud Finder will continue to power the document analysis algorithm that supports Homeppl and Thirdfort’s tenant check process, while also remaining available to businesses across the real estate, finance, legal, and insurance sectors. Companies looking to leverage AI and data-driven insights to combat fraud at the application stage can continue to rely on Fraud Finder’s industry-leading technology.
Thirdfort is a leader in simplifying and securing client due diligence for the property sector and a great fit for Homeppl’s rental check platform . It’s an exciting opportunity to create a category-defining client due diligence platform for the property sector. As we shift our focus to Fraud Finder, we see an immense opportunity to help businesses across industries combat the rising threat of application fraud. We worked hard on Homeppl to make it a success, and we’re ready to work harder on Fraud Finder."
Alexander Siedes, founder of Homeppl and CEO of Fraud Finder:
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