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.