Thirdfort has acquired the Homeppl rental platform – creating a one-stop shop due diligence platform across both the sales and rental market.
Thirdfort provides tenant checks and protection from fraud in the rental market, while it’s already used by 1500+ regulated businesses, including more than 230 estate agents.
Homeppl meanwhile has a rental check tool to protect letting agents, Build-to-Rent (BTR) developments, and homeowners against tenancy fraud.
Its tenant checks make rental applicants from 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.
Olly Thornton-Berry, co-founder and chief executive at 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.”
The remaining Homeppl business will rebrand to Fraud Finder, while it will further develop its cross-industry risk analysis service.
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.
Alexander Siedes, founder of Homeppl and chief executive of Fraud Finder: “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.”
