Quarterly Activities Update

RentGuarantor Holdings PLC

13 October 2023

 

13 October 2023

RentGuarantor Holdings PLC

(the "Company" or "RentGuarantor")

Quarterly Activities Update

RentGuarantor (AQSE: RGG), a provider of rent guarantee services to prospective tenants across the socio-economic 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 30 September 2023 ("Q3" or the "Quarter").

Highlights

·    Strong growth

Revenue and tenant contracts are up approximately 100% year-on-year, reflecting the growing demand for the RentGuarantor service.

·    Signing of key strategic contract

RentGuarantor signed a strategic contract with Let Insurance Services Ltd T/a The Lettings Hub ("The Lettings Hub") for the use of the RentGuarantor service. The Lettings Hub is a supplier of technology-driven products and services designed to make the lettings journey quicker and easier for all parties across the rental value chain.

·    Signing of partnership agreements

In Q3, the Company signed partnership agreements with a total of 16 letting agent entities or letting agent groups.

·    Implementation of new technology system

During the Quarter, RentGuarantor implemented a new internal technology system from HubSpot. The new system will allow for the more efficient management of company data.

·    Attendance at industry conferences

The RentGuarantor team attended eight industry conferences in the Quarter, speaking with industry leaders and increasing visibility for the RentGuarantor service.

·    Appointment of brokers

RentGuarantor appointed two new corporate brokers, Zeus Capital and Oberon Investments, during the Quarter.

Post-period Highlights

·    Appointment of Non-Executive Director

David Cliff, a Professor of Computer Science at the University of Bristol, who has also directed and advised on technology research for Hewlett-Packard, Deutsche Bank, and various UK Government departments, has been appointed to the Board as a Non-Executive Director.

·    Publication of research note

Zeus Capital published a research note (the "note") on the Company. The note identifies key features of the investment case for RentGuarantor.

Paul Foy, CEO of RentGuarantor, said: "I am pleased to provide this update to shareholders following another successful quarter for the Company. Once again, we have seen increases in demand for our services, with tenant contract figures up approximately 100% year-on-year. This has been supported by the signing of a strategic agreement with The Lettings Hub; we look forward to offering their tenants the option of a guarantor, whilst collaborating further on providing technology-driven solutions to serve the rental value chain.

"As the business expands, I'm delighted to appoint Professor David Cliff to the Board as Non-Executive Director. David's vast experience in technology research, complex risk, and financial markets, will prove invaluable as we develop into a sector-leading platform. I look forward to updating shareholders on further progress over the next quarter."

Ends

For further information please contact: 

RentGuarantor Holdings PLC

Paul Foy, Chief Executive Officer                                                                                          

[phone] 

Alfred Henry Corporate Finance Limited (AQSE Corporate Adviser)

Nick Michaels

Maya Klein Wassink                                                                                                               

[phone]

Zeus (Joint Broker)

Simon Johnson (Corporate Broking)

James Hornigold (Investment Banking)

[phone]

Oberon Capital (Joint Broker)

Mike Seabrook

Nick Lovering

[phone]

BlytheRay (Financial PR)

Tim Blythe

 Megan Ray

[phone]

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.

 

END