Client due diligence platform Thirdfort has announced the acquisition of tenant check and document verification business Homeppl for an undisclosed sum. Thirdfort say the acquisition strengthens their position to serve the ‘evolving needs’ of property businesses, by offering a suite of products and services for both sales and lettings.
Thirdfort serves both the conveyancing and estate agency markets where it it has 1500+ clients including more than 230 estate agents. The platform provides customer due diligence services (CDD) including ID verification and source of funds intelligence. Homeppl provides both a tenant check service and verifies tenant documentation to protect firms from fraud in the lettings market.
Initially, the rental check platform will operate as Homeppl by Thirdfort; in time it will be integrated into Thirdfort’s CDD platform. The document verification service will rebrand to Fraud Finder and focus on the advanced document risk analysis solution which helps businesses detect fraudulent financial documents. In as little as five seconds, the machine learning tool can identify font inconsistencies, template manipulations, deleted data, software origins, and institutional errors in bank statements, utility bills, payslips, and other financial documents.
Olly Thornton-Berry, co-founder and CEO 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.”
Alexander Siedes, founder of Homeppl and CEO of Fraud Finder added
“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.”
