Payapps has announced its acquisition of WebContractor Holdings Limited, a UK-based construction software company specialising in subcontractor applications for payment
Payapps’ acquisition of WebContractor will enhance its product offerings and broaden its client base, solidifying its reputation as leading provider of construction payment management solutions in the UK and Ireland’s dynamic construction technology landscape.
Payapps currently processes applications for payment worth over £40bn
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.
Supporting the industry through the standardisation and streamlining of payments
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.”
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.
