Rent.com.au milestone announcement

Rent.com.au Limited (ASX:RNT) has announced that its RentPay platform has reached a significant milestone with over 10,000 active customers as of 30 September, marking a 23% growth over the previous quarter. The platform has also processed total payments exceeding $336 million, showcasing its increasing adoption and impact on the rental market.

Executive commentary on RentPay milestone

With more than 10,000 active customers, RentPay has reached a significant milestone in its growth. This comes off its largest ever quarterly growth, adding 1,878 net new customers in the past 3 months. 'We've consistently said that we have a strong pipeline of agencies waiting to onboard, and it can be frustrating when they take their time, but the growth we've seen this quarter is testament to the work that our team has put in over previous quarters. We know we have much more to do. 10,000 is a great milestone to pass but now our focus is on 20,000 then 30,000 active customers. RentPay is a platform with no peers, so our focus is growing it to its rightful place in the market,' said Rent.com.au CEO Mr Greg Bader.

RentPay milestone summary and outlook

Rent.com.au (ASX:RNT) has achieved a significant milestone with over 10,000 active customers utilizing its RentPay platform, reflecting a 23% growth over the previous quarter. The platform's total payments processed have exceeded $336 million, demonstrating its increasing influence in the rental market. CEO Mr Greg Bader emphasized the platform's unique position and the company's focus on further growth, aiming for 20,000 and 30,000 active customers. The company's RentPay user acquisition strategy, strong sales pipeline, and new pricing model provide insights into its future plans. Rent.com.au anticipates releasing its September 2024 quarterly results towards the end of October, indicating a continued focus on transparency and performance. The company's mission to make renting rewarding and its commitment to leveraging technology to simplify the rental experience underpin its ambitions for continued growth and positive impact on the rental community.