AUSTIN, TX / ACCESSWIRE / July 27, 2023 / Boom the leading rent reporting platform, announced the acquisition of Alpaca, the largest platform of renters on social media globally. This acquisition will allow Boom to expand its distribution to over 6 million US renters, increasing access to its rent reporting product that helps consumers build their credit scores and in turn supports their homeownership goals.
"We are thrilled to welcome Alpaca to the Boom team. The Alpaca team has done an amazing job at building a massive and engaged renter user base. This acquisition broadens our reach and allows us to bring new users into our platform," said Rob Whiting, CEO of Boom. "And for real estate owners and operators, by bringing Alpaca's expansive reach to our existing platform, we are able to offer a compelling B2B marketing channel even as the rental market softens."
As part of the acquisition, Boom will take over management of over 580 active social media communities covering over 6 million renters. Boom will now have localized presence in communities and geographies as large as New York City (its "New York City Housing, Rooms, Apartments, Sublets" community) and as locally specific as University of California, Riverside (its "UC Riverside (UCR) Housing, Rooms, Apartments, Sublets" community).
"Rob's vision to improve renter experience through financial solutions is unparalleled," said Adrian Cabrera, CEO of Alpaca. "We are thrilled to see what's next as Alpaca's renters, landlords and property managers gain access to a suite of world class financial products."
About Boom
Boom is on a mission to level the playing field for the 110+ million renters in the US by making housing more flexible, affordable, and rewarding. The Boom App enables renters to build credit with their largest monthly expense: the rent payment. Now serving thousands of renters, Boom is led by second-time founders Rob Whiting (ex-BCG, Rubicon) and Kirill Moizik (Eco, Technion, Grubhub). It's backed by Starting Line, Clocktower Ventures, Gilgamesh Ventures (Petal co-founders), and William Hockey and Zach Perret (Co-founders of Plaid) who anchored Boom's pre-seed round, joined by Harry Stebbings and others from places like Cash App, Mint House, Landis, Party Round, and Redfin.
Boom is available in the App Store, Google Play Store and at www.boompay.app.
Media Contact
Rob Whiting
rob@boompay.app
512-387-4859
SOURCE: Boom Pay Inc
View source version on accesswire.com:https://www.accesswire.com/770765/Boom-Announces-Acquisition-of-Alpaca-to-Expand-Distribution-to-6M-US-Renters
