RentGuarantor Hldgs - Quarterly Activities Update
Announcement provided byRentGuarantor Holdings PLC · RGG
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
· 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.
· Appointment of Non-Executive Director
David Cliff, a Professor of Computer Science at the University of
· 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."
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)
Maya Klein Wassink
+44 20 3772 0021
Zeus (Joint Broker)
Simon Johnson (Corporate Broking)
James Hornigold (Investment Banking)
+44 203 829 5000
Oberon Capital (Joint Broker)
+44 (0) 203 179 5300
BlytheRay (Financial PR)
+44 207 138 3204
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.