Roofstock, an Oakland, CA-based digital platform for buying, selling, and managing single-family rental (SFR) investments, acquired RentPrep, a tenant screening company.
The amount of the deal was not disclosed.
This transaction follows recent acquisitions of Great Jones and Stessa, as Roofstock continues to deliver tech-enabled solutions designed to make investing in the $4 trillion SFR market accessible and efficient for both individual and institutional investors.
Led by Steve White, CEO and founder, RentPrep is a comprehensive, digital tenant screening company that allows landlords and property managers to perform credit, criminal, and other background checks. Its model leverages technology along with certified screeners authenticating results to ensure the data being given to landlords is not just quick, but also accurate and compliant with the Fair Credit Reporting Act (FCRA). Individual investors can order screening reports from RentPrep’s website, and property management clients can integrate RentPrep into their own solution by leveraging RentPrep’s APIs. Founded in 2007, the company has performed over 2 million screenings for over 160k investors since inception.
Led by Gary Beasley, CEO and co-founder, Roofstock empowers investors of all levels and sizes with a digital, user-friendly, and data-driven approach to buying, selling, and owning rental properties.
This news closely follows Roofstock’s recent Series E funding announcement, where the company raised $240 million at a nearly $2 billion valuation. Since its founding, Roofstock has facilitated more than $5 billion in transaction volume on its platform, including both individual investor transactions as well as some of the largest portfolio transactions by institutional owners in the space.