Fixflo, the property repairs and maintenance platform, has been sold to German property software company Aareon AG in what CEO Rajeev Nayyar called “the next exciting phase” for the business.
Founded by Nayyar and Duncan Careless in 2012, Fixflo streamlines communication and data handling in the repair and maintenance process, allowing users to resolve more issues in less time.
The SaaS platform, which won the PlaceTech Prize in 2019, has about 1,500 customers with a combined 1.2 million homes under management. These include build to rent, social housing and purpose built student accommodation.
Aareon acquired 100% of Fixflo’s shares, but the platform will continue to operate as an independent company under the same executive team led by Nayyar and Careless.
Nayyar said: “This is the start of the next exciting phase of Fixflo for our customers, partners and team.
“Throughout discussions with Aareon we’ve been impressed by their desire to help us to harness the benefits of scale across their group but to allow us the independence and flexibility to innovate and continue to work in partnership with our customers.”
Manfred Alflen, CEO of Aareon AG, added: “By acquiring this high-growth SaaS company in the market for residential property managers, we are further expanding our market position in the UK. Clients will be able to benefit from our increasing product offering.”
Aareon is one of the leading providers of ERP software in Europe, with 3,000 clients managing a total of 10 million units. As part of the acquisition, the German business plans to increase Fixflo’s R&D budget, seeing the platform as a part of the group’s wider growth strategy.
For a showcase of how Fixflo simplifies maintenance management, click here.