Quarterly Activities Update

RentGuarantor Holdings PLC

24 January 2025

 

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 10^th 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                                                                                          

[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)

Megan Ray

Will Jones

[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