Automated Payment & Reconciliation Platform Continues to Win Market Share with Disruptive Technology
Stellenbosch, South Africa & Sevenoaks, United Kingdom, 15 Dec. 2022 – PayProp, a leading processor of rental payments for the property management industry, today announced it has raised significant growth investment from a consortium of investors – terms were not disclosed. This investment was supported by current and new investors including Rational Expectations, Betterhome, Accel-KKR, founders and management. Funding will support the company’s expansion plans in new and existing markets, with a focus on product innovation.
Johannes van Eeden, chief executive officer of PayProp, said in a statement, “We will use the investment to continue improving our platform and service, fund more aggressive expansion in our markets, and build out our infrastructure and resources to serve our customers. This will allow us to double down and do more of the same, but with key enhancements to our product and operations.”
The PayProp platform allows true end-to-end automation of rental payment receipts, reconciliation and distribution, within a trusted, real-time, secure in-bank trust / client account environment, enabling total accounting accuracy and speedy settlement. PayProp has been recognized for eliminating back-office inefficiencies, lowering administrative costs, automating collections and distributions, all while maintaining tight cloud security and exceptional services to property managers, tenants and owners. PayProp serves a large group of letting agents and rental property managers across the United Kingdom, South Africa, Canada & the United States.