8 December 2022
RentGuarantor Holdings PLC
(the "Company" or "RentGuarantor")
One Year Since Listing on Aquis
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 mark the first anniversary of its listing on the Aquis Stock Exchange.
Highlights:
· As at 30th Nov 2022, RentGuarantor has seen an increase in website traffic by 78% (YTD) compared to 2021 and application numbers are also up 56% year on year
· The Company reported its interim results for the period ended 30 June 2022, which saw an increase in revenue of 86% on the comparative six-month period in 2021. Operating profit more than doubled from £61,000 to £126,000 in the same period
· Signed strategic partnership agreements, resulting in RentGuarantor being granted the status and title of Recognised Supplier by the National Residential Landlord Association ("NRLA") in April 2022, and the status and title of Industry Supplier by Propertymark Ltd ("Propertymark") in May 2022
· In June 2022, the Company raised £1 million of additional capital, in the form of convertible loan notes, to support its plans for growth
· Released a number of video interviews as well as an investor Q&A, to increase exposure of management to shareholders
· Attended several industry conferences, expanding the industry's awareness of RentGuarantor's services
· RentGuarantor made a number of key staff hires to support its strategic initiatives
Paul Foy, CEO of RentGuarantor, said: "I am extremely pleased to commemorate this milestone of one year since listing on the Aquis Stock Exchange. RentGuarantor listed last year with the intention of helping to advance growth and accelerate the business and, in that regard, it was certainly a successful strategic move. It has been a year of significant growth for Company, in which we have seen an increase in demand for our services and strong financial results.
"The strategic partnerships that the Company has signed with the NRLA and Propertymark have given us increased legitimacy as well as providing important access to key stakeholders within the property industry. In the case of the NRLA, being part of the Recognised Supplier Scheme gives RentGuarantor access to NRLA's registered landlord base in the UK which controls approximately 500,000 properties. The Industry Supplier Agreement that we signed with Propertymark stipulates that it will promote RentGuarantor's rent guarantee service through various marketing activities.
"Within the last year, the Company has also committed to releasing 'Quarterly Activities Updates', and has released a series of video interviews and an Investor Q&A, with the intention being to strengthen the connection between investors and management and allowing for greater transparency.
"As we move into the next year of our journey on Aquis, myself and the entire management team are excited to capitalise on the increased demand for our rent guarantee service, as well as reveal the new technologies that the Company has been working on, enter into more strategic agreements and initiatives, and expand the team further. Our core goals are to grow the Company in a sustainable way and increase value for our shareholders, whilst delivering tangible value to our customers."
Ends
For further information please contact:
RentGuarantor Holdings PLC
Paul Foy, Chief Executive Officer
+44 207 193 4418
BlytheRay (Financial PR)
Tim Blythe, Megan Ray
+44 207 138 3204
About RentGuarantor Holdings Plc
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.
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