NEWCASTLE-UPON-TYNE, England, Oct. 9, 2023 /PRNewswire/ -- Payapps, an industry leader in construction payment management technology, is delighted to announce its acquisition of WebContractor Holdings Limited, a UK-based construction software company specialising in subcontractor applications for payment. This pivotal move marks a significant milestone for Payapps, as it enhances its product offerings but also broadens its client base, solidifying its reputation as a leading provider of construction payment management solutions in the UK and Ireland's dynamic construction technology landscape.
With Payapps currently processing applications for payment worth over £40 billion per annum globally, this acquisition represents a strategic synergy between two key industry players and affords Payapps the ability to provide even greater 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 revolutionise the field of construction payment processing technology.
Commenting on the acquisition, 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 in the immediate term. Payapps' priority is ensuring a seamless transition to business operations and exceeding the needs of its customers, which both Payapps and WebContractor are renowned for.
Dan Nichols, CEO of WebContractor, echoed these sentiments commenting, "I am excited about the opportunity for WebContractor and our contribution to the evolution of Payapps in the UK and Ireland."
The acquisition aligns perfectly with Payapps' overarching mission to support the construction industry through the standardisation and streamlining of payments, and is also testament to the strategic importance of the UK and Ireland region in shaping the future of construction technology.
About Payapps Group
Founded in 2014, Payapps is a leading global technology provider in the construction and building operations sector. Payapps' construction solutions handle payment applications while their building operations solutions address both the day-to-day and strategic management of assets and facilities. With over 40,000 customers worldwide, Payapps offers software solutions that are revolutionising the way organisations collaborate and manage the performance of assets from beginning to end – and all the time in between. Payapps has operations throughout the UK and Ireland, Australia, New Zealand and the USA.
For information about Payapps, visit payapps.com.
About WebContractor
The WebContractor platform was created to help UK and Irish contractors deliver a robust, streamlined subcontractor application for payment process, support prompt payment and maintain compliance with the provisions of the UK Construction Act and Ireland's Construction Contracts Act.
Developed by a team of construction industry veterans supported by a specialist software development team, the platform has grown quickly and now supports the subcontractor application for payment management for some of the most recognisable names in UK and Irish construction.
For more information, please contact:
Sarah Hollett-Russell
Fabrick
Telephone: +44 (0)1622 754295
Email: sarah.hollett-russell@fabrick.agency
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