Reapit, the leading provider of real estate software solutions, has acquired Inspect Real Estate (IRE) and Move Me In (MMI) to enhance its Proptech suite. IRE, a provider of time-saving workflow productivity software for the property industry, has been a leader in real estate software services across Australia and New Zealand since 2011. IRE is currently being used by over 3,000 real estate agencies and has helped its clients manage more than 57 million inspections and process more than 140 million enquiries. MMI is a leading independent utilities comparison and connections service that partners with real estate agencies to find tenants the best energy and internet deals in the market.
With the acquisition, Reapit now has over 50% of real estate agencies in Australia and New Zealand as its customers, making it a dominant force in the real estate technology market. The acquisition has also deepened Reapit’s commitment to delivering innovative solutions to the market and ensuring its customers have access to all the technology they need to compete and grow.
Andrew Reece, the co-founder & CEO of IRE, believes that joining forces with Reapit will help fast-track their growth in the United Kingdom while strengthening their market position in Australia and New Zealand. Stating “IRE has always had a strong focus on helping our clients, as well as property seekers and the property industry, with our tech – and Reapit shares this vision. We want to expand IRE One, TenantApp, KeyWhere, 2Apply and Move Me In around the world and this opportunity brings us global expertise, which is what we’ve been looking for to help IRE go worldwide.”
Shaun Mahony, the CEO of MMI, is excited about the acquisition and is looking forward to offering future movers the best deals in the market for their electricity and internet services.
Mark Armstrong, Group CEO of Reapit, commented that the acquisition deepens Reapit’s commitment to delivering innovative solutions to the market, and ensures their customers have access to all the technology they will need to compete and grow. The acquisition also brings IRE’s global expertise to Reapit, which will help IRE to go worldwide.
Charlie Holland, ANZ CEO Reapit, said: “We are thrilled to welcome Inspect Real Estate and Move Me In to the Reapit team. With the tightening rental market in Australia, property managers are overwhelmed with applications and are looking for better ways to streamline the process.
“Together with our existing product suite, we can bring together an offering that helps our customers achieve further productivity benefits. While there has been a proliferation of proptech vendors in the region, the lack of any meaningful integration has meant our industry has struggled to gain the benefits of this innovation. Following the acquisition of IRE, we have the ingredients to deliver a tightly coupled suite of products that help our customers achieve a competitive advantage in the market.”
Globally, Reapit supports over 7,000 agencies and manages services for more than 1,000,000 properties. With the acquisition of IRE and MMI, Reapit has further strengthened its position in the real estate technology market and enhanced its Proptech suite to better serve its customers.
