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".
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”.