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A few months after announcing the rollout of its large brokerage enterprise offering, and mere days after becoming the software partner of record for the fast-growing, tech-froward brokerage Real, marketing and CRM developer Chime has acquired U.K.-based property management firm Rentancy.
In a statement on the acquisition, terms of which were not disclosed, Chime said the two firms have a shared mission to compress the long-standing workflows of real estate sales and business operation through an “unwavering commitment to innovative technology development.”
Joe Chen, Chime’s CEO, said in the statement that this is merely one attack point in the company’s mission to provide the best technology products so “every real estate professional globally [can] thrive and prosper.”
“With Rentancy, we are at the beginning of a long-term product and business development journey expanding into European markets and global property management SaaS space,” Chen said.
Based in Horsham in West Sussex, Rentancy’s website says it was founded in 2019 to serve the back-office needs of multi-family properties with 50 to more than 1,000 units, a sector of the overall US proptech market that has been thriving of late, especially in terms of venture capital investment.
Rentancy develops software to address a multitude of leasing and property administration needs, including rent processing and accounting, bookkeeping and asset management, or physical upkeep.
Its existing contracts, and the resulting soon-to-launch sales efforts, will help Chime spread into Europe, Middle East and Africa.
Chime has been broadening its product’s reach of late, as well, recently unveiling a brokerage recruiting product and social media marketing studio. Early in 2022, it made public internal plans to invest more than a $1 million in staffing and training to bolster customer success.
“The natural synergy between Rentancy and Chime was clear from the start,” said Kurt Lyall, Founder & CEO Rentancy, in the announcement. “By combining our property management software and services with Chime’s award-winning sales acceleration platform, we can offer a complete real estate business solution that streamlines operations and empowers our clients to focus on building their business.”
Chime offers customer relationship management, web marketing, transaction management and an array of other digital sales support and brokerage operations tools for agents, teams, independent brokerages and enterprise-scale real estate companies. It was founded in 2016.
