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The latest announcement is out from Rent.com.au Ltd ( (AU:RNT) ).
Rent.com.au Limited has reported a successful rollout of its RentBond® product, with over $1 million in loans funded since its launch. The company has drawn down an additional $1 million from its $10 million funding facility, backed by the Eldium Income Fund, to support further expansion. The new business model is generating six times the lifetime revenue compared to the previous model, validating its attractiveness. Rent.com.au is expanding its distribution channels and is on track to double its monthly revenue, moving towards profitability. The partnership with Eldium provides not only capital but also strategic guidance from experienced founders, positioning Rent.com.au for long-term sustainable growth.
More about Rent.com.au Ltd
Rent.com.au Limited is Australia’s leading renter-focused technology platform designed to meet the financial and digital needs of the country’s 8 million renters. The platform offers services such as RentBond®, a move-now-pay-later loan for rental costs, and RentPay, a digital rent payment and money management app, aiming to support renters through every step of the rental journey.
Average Trading Volume: 1,107,334
Technical Sentiment Signal: Buy
Current Market Cap: A$40.12M
See more insights into RNT stock on TipRanks’ Stock Analysis page.