Property management services technology start-up Yabonza has acquired share house payments start-up Easyshare in a combined cash and equity deal.
The acquisition, which is Yabonza’s first and is aimed at expanding the offerings of Yabonza, aligns with the platform’s technology growth and leadership objectives.
Yabonza will retain the Easyshare brand during a transition process to integrate its technology into Yabonza’s platform.
The acquisition would see Yabonza’s leadership team of CEO Mark Trowell, along with chief operating officer and chief marketing officer Heidi Guenther and business manager Simon Kinsey, bringing Easyshare founder John Bush into Yabonza as an additional co-founder.
Mr Trowell said the Easyshare technology and mission made the acquisition a suitable fit for Yabonza’s team and platform.
“We are expanding Yabonza as the one platform for property management, and we’ve recognised payments as an important area for us to develop and improve on what we do, and on the experience, we offer to owners and tenants,” he said.
“John’s vision of removing payment friction was a natural progression for us, and we’re excited that he’s joining the team. We believe the value this adds for our shareholders and investors is a taste of our plans for building out the Yabonza platform.”
Mr Bush said Yabonza was the right evolution of his start-up and offered an opportunity to better serve Easyshare and Yabonza customers.
“Joining Yabonza means that we have the capacity to offer so much more to millions of landlords and tenants and continue to provide the best possible product for the sector,” he said.
Easyshare was founded in 2015 with the aim of making payments for bills, expenses and rent easier to split between housemates, simplify share house management and administration.
Yabonza has reportedly achieved an ongoing double-digit growth rate month-on-month, which has seen them expand into their first overseas market, launching in the UK.
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.