A BRIGHTON tenant referencing platform has been sold.

Movem, based in Old Steine, will continue as a standalone business after being bought by Barbon Insurance Group.

Barbon is a tenant referencing and insurance specialist to the UK lettings sector.

Movem, led by founder and chief executive Peter Ramsey, uses personal online banking transaction data to validate tenants’ financial means and payments history.

Mr Ramsey said: “Even during our initial discussions, it became clear the mission and culture of Movem was a good fit with Barbon’s own ethos.

“Movem, as a service, will have access to more resources under Barbon to ensure we continue to develop and innovate further in this exciting new technology.

“Under its leading HomeLet brand, Barbon clearly understands this sector and sees Movem as a valuable addition to its range of solutions.

“Movem will continue on the same roadmap with the same team as a standalone business, now as part of a larger supportive parent group.”

Martin Totty, chief executive of Barbon Insurance Group said: “Under Peter’s enthusiastic leadership, Movem has developed a platform which offers real possibilities to further enhance the tenant referencing process utilising open banking data.”