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London-based proptech startup Plentific buys Liverpool-based X Tag to accelerate housing compliance technology

Plentific, one of the fastest-growing PropTech companies in the UK has recently acquired X Tag (formally Gas Tag). With this acquisition, the London-based company will be the only end-to-end SaaS-enabled marketplace solution providing integrated repairs, maintenance, and compliance services in the UK and Germany. 

Empowers to move towards data-driven approaches

Based out of Liverpool, X Tag provides technology solutions that empower housing providers to move away from reactive compliance processes into proactive, data-driven approaches. Right now, the Liverpool company works with more than 50 leading social housing providers, local authorities, lettings agents, and property managers. 

With instant oversight of the safety status of a property portfolio, it provides transparency, accountability, and assurance that all the necessary steps have been taken to ensure real compliance and to keep tenants safe.

Post this acquisition, X Tag’s product suite will be integrated into the Plentific platform, providing landlords and property managers with complete repairs, maintenance, and compliance management tool. 

Cem Savas, CEO, and Co-founder of Plentific said: “Compliance is an issue that has skyrocketed up the agenda for housing providers in recent years. During our recent PropertyLab incubator, we found that a disconnect in approaches to reporting on compliance and a lack of data integration is a huge burden on housing providers. X Tag has been a driving force in digitising that entire process to improve outcomes for all. As part of our growth strategy, this acquisition will accelerate our product development in compliance, offering our clients the most comprehensive suite of management and maintenance services on the market. This aligns very well with our strategy to scale the platform organically and through acquisitions. At Plentific, we’re committed to improving the quality of life by making housing and property work better for everyone and the acquisition of X Tag will allow us to drive this mission forward further. It’s a perfect fit and we’re delighted to welcome X Tag to the team as we continue on our journey together.”

Founded by Cem Savas and Emre Kazan in 2013, Plentific’s empowers landlords and property managers to deliver more efficient repairs and maintenance services. 

Improved outcomes

As per the company’s claims, this approach has dramatically improved outcomes for housing providers, helping them to unlock operational savings of up to 25 percent, speeding up service delivery fivefold, and creating economic opportunities within their local communities by providing local work to local companies.

Raised £31M

The company has so far raised $41 million (approx £31 million) from various investors include A/O Proptech, Target Global, Round Hill Ventures, and PiLabs.

John Roche, managing director, at X Tag said: “We’re delighted to be joining the team at Plentific. Cem and the rest of the team have created a platform that not only fills a gap in the market but also truly improves the experiences of both housing providers and tenants. As we move onto our next phase of growth, we will now be able to offer our clients around the UK, a wider range of services to support their needs.”

 

The post London-based proptech startup Plentific buys Liverpool-based X Tag to accelerate housing compliance technology appeared first on UKTN (UK Tech News).

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