Monroe Capital LLC announced an increase in the credit facility to Reapit Group to support the addition of Agentbox. The combined company is backed by Accel-KKR, a technology-focused investment firm, and has $4.3 billion in capital commitments.
Agentbox, a real estate CRM solution in Australia joins the Reapit Group, one of the largest CRM and Property Management providers to the UK residential real estate sector, to deliver comprehensive solutions to agencies across Sales and Property Management in the Australian market. The two businesses will remain operationally independent, but will form a close strategic and technical partnership to provide Australian real estate agencies with an unprecedented range of options, functionality and support.
The two businesses will remain operationally independent, but will form a close strategic and technical partnership to provide Australian real estate agencies with an unprecedented range of options, functionality and support. With both businesses already having achieved the dominant position in their respective core markets, this relationship will see both of their 'best-in-class' real estate software solutions being enhanced further and made available across the board to all their clients. Together they will be moving forward to look at advanced areas, such as Artificial Intelligence. The Agentbox senior management team will continue to be led by Eddie Cetin (CEO).
Cetin commented: "This is such an exciting next-level opportunity for us. This partnership brings the power of the Agentbox CRM and a world-class property management solution under one roof to provide our clients with the ability to deliver to their clients an enhanced customer experience. It finally provides the framework for a simple real estate whole-of-market software solution. At the same time it helps us expand our offering to bring increased depth and functionality to our clients and provide them with a dynamic path to grow their agencies".
Gary Barker, Reapit CEO, remarked: "We are thrilled to combine forces in Australia with Agentbox. Together we will be able to provide technology solutions that help our customers drive repeatable growth for their businesses. I expect all of our clients to see exciting changes in the coming months, once we start transforming ideas and shared knowledge into tangible enhancements."