24 January 2025
RentGuarantor Holdings
PLC
(the "Company" or
"RentGuarantor")
Quarterly Activities
Update
RentGuarantor
(AQSE: RGG), a provider of rent guarantee
services to prospective tenants across the socioeconomic spectrum
wishing to rent property in the UK private rental sector,
is pleased to provide a quarterly activities update for the
three-month period ended 31 December 2024 ("Q4" or the
"Quarter").
Highlights
·
Strong
growth
For Q4 2024, revenue is up 88% year-on-year
("YoY") compared with the same quarter last year, and the number of
tenant contracts is up 73% YoY, demonstrating an increased demand
for the RentGuarantor service. The average revenue per tenant
contract also rose by 9% YoY, to £807.82.
·
Signing of partnership
agreements
In Q4, the Company signed partnership
agreements with a total of 49 introducers, including letting
agents, councils, student accommodation providers, landlords and
charities. This represents growth of 390% YoY.
·
Subscription for Convertible
Loan Notes
During the Quarter, RentGuarantor announced a
proposed 10% coupon unsecured convertible loan notes offering
which, post-period end, was confirmed to have raised £455,274.83
for working capital and capital expenditure
requirements.
·
Attendance at industry and
investor conferences
RentGuarantor attended 11 events during the
Quarter, including the Mello 10th Anniversary
Show.
Paul Foy, CEO
of RentGuarantor, said: "I am pleased to provide an update to
shareholders following a strong end to 2024. First, I'm delighted
with the results of our fundraise via the convertible loan notes,
and I'm grateful that our investors share my optimism and vision
for 2025, and joined me in further investing in RentGuarantor. I
look forward to providing positive newsflow that reflects their
confidence in the Company.
"I'm also
delighted to have maintained strong growth throughout the Quarter,
exemplified by increases in year-on-year revenues and tenant
contracts. These statistics are indicative of the high demand for
our services, underpinned by new partnership agreements with a
range of fantastic letting agents, councils, student accommodation
providers, landlords and charities.
"As we
progress into 2025, I would like to take this opportunity to thank
our valued employees and stakeholders for their contributions in
what was our most successful year as a business to
date."
Ends
Sign up to the RentGuarantor Investor Hub
here
to keep up to date with all company announcements and to engage
with the RentGuarantor team.
For further information please
contact:
RentGuarantor
Holdings PLC
Paul Foy, Chief Executive
Officer
+44 207 193 4418
Alfred Henry
Corporate Finance Limited (AQSE Corporate
Adviser)
Nick Michaels
Maya Klein
Wassink
+44 (0) 20 8064 4056
Zeus (Joint
Broker)
Simon Johnson (Corporate Broking)
James Hornigold (Investment Banking)
+44 203 829 5000
Oberon Capital
(Joint Broker)
Mike Seabrook
Nick Lovering
+44 (0) 203 179 5300
BlytheRay
(Financial PR)
Megan Ray
Will Jones
+44 207 138 3204
About RentGuarantor
RentGuarantor provides a rent
guarantee service to tenants wishing to rent property in the UK
from the Private Rental Sector ("PRS"). It is an online service
where applications are managed on a secure and bespoke digital
platform designed and built by the Company. The goal is to make the
process as simple as possible, with applications only taking a few
minutes and RentGuarantor completing the application on the same
day.
RentGuarantor supplies its service
to the whole of the market - students, both from the UK and
overseas, employed people and people on benefits including
Universal Credit, ensuring that everyone has the opportunity to
live in their dream rental home.
