Payapps has announced the acquisition of WebContractor Holdings Limited. Payapps is a technology provider in the construction and building operations sector. The company handles payment applications while their building operations solutions address both the day-to-day and strategic management of assets and facilities. Currently it has operations throughout the UK and Ireland, Australia, New Zealand and the USA.
WebContractor is a UK-based construction software company specialising in subcontractor applications for payment. This move enhances Payapps’ product offerings but also broadens its client base. In turn, solidifying its reputation as a respected provider of construction payment management solutions in the UK and Ireland’s dynamic construction technology landscape.
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Payapps looks to expand UK and Ireland presence
The acquisition aligns with Payapps’ overarching mission to support the construction industry through the standardisation and streamlining of payments. The UK and Ireland are key players in the field of construction technology. Payapps will hope to make further partnerships moving forward to continue its growth.
Payapps currently processes applications for payments worth over £40bn per annum globally. This acquisition represents a strategic synergy between two key industry players and affords Payapps the ability to provide even further value to its customers. By combining the strengths of existing technologies, optimising business processes, leveraging distribution channels and integrating the exceptional talents of their respective teams, this acquisition is set to have a big effect in the field of construction payment processing technology.
Geoff Tarrant, Executive Chairman of Payapps said: “The WebContractor platform and highly complementary team will strengthen our offering to further meet the needs of the UK and Irish markets.”
WebContractor will continue to operate under its current brand identity. Payapps’ priority is ensuring a seamless transition to business operations and exceeding the needs of its customers.
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By GlobalDataDan Nichols, CEO of WebContractor, commented: “I am excited about the opportunity for WebContractor and our contribution to the evolution of the company in the UK and Ireland.”
