Barbon Insurance Group, which already owns Let Alliance and HomeLet, has now acquired PropTech platform Rent4sure.
Luke Burton, Rent4sure’s chief operating officer, says: “This development allows us to build on 11 years of innovation as a lettings software and systems specialist. Working on a shared vision with our new colleagues means we can add more value to our portfolio, while retaining our unique brand.”
Barbon says the acquisition is well aligned to the ambitions of Let Alliance and HomeLet who already, combined, provide the largest Rent Guarantee portfolio in the UK, protecting more than 150,000 tenancies. On an annual basis, they also complete over 1m tenant references and pay more than £4m in commission to letting agents.
Burton adds: “A strengthened Rent Protection solution will bring customers unrivalled levels of protection and sit alongside additional in-demand products such as Tenant’s Liability Insurance and Landlord’s Buildings and Contents Insurance. Agents will have access to the highest calibre full service insurance proposition. Our commitment to excellent customer service and one-to-one partnership, powered through our bespoke, custom-built platform, remains as strong as ever.”
Barbon’s chief executive officer Andy Halstead says: “This is a brilliant opportunity, and all our customers are poised to benefit from the deal. Rent4sure has a great reputation in our marketplace, and Tim and Luke have built a professional business with an outstanding team of people supported by market leading technology. Everything we do is about our customers and delivering a service that our customers love. Rent4sure bring 2000 new customers to our Group, adding to our scale and firepower. We have the resources to deliver unrivalled value to our customers. I can’t wait to get cracking with our new colleagues and customers.”