Kamma, a UK-based geospatial technology firm simplifying private rented property licensing, announced partnering with tenant referencing platform Veri-Check to offer a complete licensing solution, according to Fintech & Finance News.
The firm says the partnership will provide instant licensing checks and enable Veri-Check users to complete license applications directly from the platform via Kamma technology.
As a result of discretionary licensing scheme growth across the UK’s 408 local authorities, rules and regulation for licensing have become more complex to follow with fines and Rent Repayment Orders creating costly burdens and pitfalls.
In order to tackle this problem, the partnership seeks to help agents by removing complexity and freeing up time for core business activities.
“We are thrilled to announce this fantastic partnership with Veri-Check, which will enable their users to stay compliant with changing licensing regulations much more easily and free themselves up to focus on their core business,” Kamma CEO Orla Shields said.
At the same time Shields says the offering has potential to act as a new revenue stream, rather than just a compliance burden.
“This partnership is particularly exciting as we expect to see more letting agents recognize license applications as a potential new revenue stream rather than purely a compliance burden. We anticipate that agents will take this more as an upsell opportunity, delivering a premium service for their landlords whilst also being able to make a mark-up on the license application fee. With the administrative burden removed thanks to our partnership, this can act as a new source of passive revenue for any letting agencies affected by property licensing schemes,” Shields said.
Founded in 2015, Kamma has become a leading geospatial tech company in the UK. The company recently completed a £1.6M seed round led by Triple Point Ventures in November, which brought its total funding to $2.8 million following a £500,000 pre-seed round in 2018 and a grant from Geovation in 2017.
The company specializes in creating unique data solutions from disparate property and financial sector information, working with buy-to-rent (BTR) players to win new instructions, create new revenue streams and reduce operational cost of compliance.
Veri-Check is another UK-based company, that specializes in tenant referencing checks for letting agents, private landlords and BTR providers.
Founded in 2008, the company enables reference management through its NFOPP trained team and in-house platform, and offers a “one-stop shop” for those dealing with pre-tenancy checks using its system integrations and ongoing partnerships.
“Our partnership with Kamma leads the way in ensuring compliance, despite licensing complexity, as simply as possible within the existing referencing process, and we are thrilled to be able to extend the service further through our trusted relationship with Kamma to offer a hassle-free licensing application accompanied by income generation,” Veri-Check Director Su Colledge stated in the release.
“With ever increasing licensing schemes and focus on enforcement, this is a quick and simple solution for peace of mind,” Colledge said.
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