UK construction software company WebContractor Holdings Limited has been acquired by global industry payment management platform Payapps.
The deal will enhance Payapps’ presence in the UK and Ireland where WebContractor specialises in subcontractor applications for payment.
In addition to supporting prompt payment, WebContractor was created to help UK and Irish contractors maintain compliance.
Founded in 2014, Payapps has more than 40,000 customers worldwide, operating throughout the UK and Ireland, Australia, New Zealand and the US.
The Group currently processes applications for payment worth more than £40 billion per annum.
WebContractor will continue to operate under its current brand in the immediate term.
“The WebContractor platform and highly complementary team will strengthen our offering to further meet the needs of the UK and Irish markets,” said Geoff Tarrant, executive chairman of Payapps.
Dan Nichols, CEO of WebContractor, added: “I am excited about the opportunity for WebContractor and our contribution to the evolution of Payapps in the UK and Ireland.”
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