Two of the UK’s largest PropTech brands have combined in a new deal, to become the third-largest organisation of its size in the UK. Canopy (Insurestreet Limited) has acquired The Lettings Hub, and both brands will now share technology and expertise to deliver solutions, products, and services to the UK lettings industry.
Well-known to consumers, Canopy’s RentPassport product has been referenced on The Martin Lewis Show in the past. The Lettings Hub is a leading provider of tenant referencing and tenancy management solutions, used by over 1,200 letting agents across the UK, including major brands like Spicerhaart and Dexters.
Under the terms of the deal, both Canopy and The Lettings Hub will continue to operate independently while working together to enhance one another’s offerings. The two businesses already share a strong working relationship, and now, working as a single entity, the companies hope to benefit from synergies across their product, data, and technology capabilities.
A statement has said that the acquisition will allow both brands to offer a broader range of enhanced propositions for agents and renters, and contribute to a better user experience, and a smoother rental experience.
CEO of The Lettings Hub, Heidi Shackell, commented:
“The Lettings Hub team has worked tirelessly over the past 12 years to deliver fantastic lettings technology and products to our clients. I’m incredibly proud of what we’ve achieved & the strong relationships we’ve built, and I’m also enormously grateful to every client that has used our services, every employee who has been a part of our growth journey, and to our shareholders for their unwavering support. Now we’re ready for our next chapter, and moving forward alongside Canopy, who we have already built a successful partnership with, we will capitalise on the strengths of both brands to deliver even greater value to the lettings sector.”
“With 2025 set to be a transformative year for the lettings market, my focus remains firmly on guiding our business to meet the evolving needs of letting agencies, particularly as Renters’ Rights legislation takes shape, over the next 12 months”
Canopy CEO, Chris Hutchinson, added:
“For both businesses, this deal represents a transformative opportunity. Together, we now support over 2,500 letting agent clients, and our combined resources allow us to expand our integrated services beyond what either of us could achieve individually. By uniting our cutting-edge technologies and shared passion for innovation, we’re in a stronger position to deliver for tenants, landlords, and letting agents alike.”
The deal comes at a time when consolidation in the lettings market is accelerating rapidly. Record numbers of estate and lettings agency sales are occurring, and both landlords and agents face growing challenges. As such, suppliers must adapt quickly to meet market demands and provide tailored solutions.
Heidi Shackell concluded:
“Together, Canopy and The Lettings Hub are well-positioned to lead the way in PropTech innovation. Our clients can be confident in both our ability to deliver innovation, and of the strength and reliability of the products and services they use to support landlords and tenants alike.”
Feature Image by Gerd Altmann from Pixabay
