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Deposify, the Irish founded but US-focused "escrow as a service" platform has been sold to a US private equity company, its chief executive said in a Tweet.
Jon Bayle, who co-founded Deposify in 2014, said he was "delighted" with the deal, which would allow the business to build out a banking services offering for real estate in the US.
The Deposify platform allows landlords and tenants to manage and control how and when rental deposits are paid and resolve deposit-related disputes quickly.
Mr Bayle paid tribute to his co-founders Mr Brennan and Tony Kelly. He also said he was pleased for the company's investors, including Delta Partners and said Enterprise Ireland had been "a great help".
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He said he hoped he had learned from the “many mistakes made”, observing that “some days it felt like drowning, other days it felt like the sun would never stop shining”.
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