Rent.com.au Share Price Up 167% on New Tech Investor (ASX:RNT)

When it comes to noteworthy investors, plenty of names come to mind. Such as Buffett, Dalio, or Lynch, for example.

But when it comes to tiny tech stocks on the ASX, one name is more well-known than most: Bevan Slattery.

Slattery has been around the Australian telco and tech scene for years now. Founding a few ventures, as well as helming a few more.

But, in recent years, he has become more well-known for his strategic capital injections. Devoting relatively large sums of money to tiny stocks.

And today, he has done exactly that for Rent.com.au Ltd [ASX:RNT]. Whose share price has skyrocketed an astonishing 167% higher at time of writing.

Making a name for themselves

Rent.com.au confirmed this morning that tech investor Bevan Slattery has pledged $2 million to the company. Taking out a significant stake in the company. Along with a further $750,000 from other undisclosed investors.

This name drop has promptly attracted a lot of interest. Putting this relatively unknown stock now firmly on investors radars. As well as pushing the share price to some new highs…

But Slattery clearly believes Rent.com.au has the potential to deliver some incredible returns.

Because as he puts it in his own words, they could become a major disruptor:

I love disruptive platforms that have the ability to scale and Rent.com.au has great potential to achieve that goal.

I look forward to supporting the Board and management team and am excited to be backing another innovative Australian technology platform.

More importantly, it’s a timely investment. With the company closing in on the launch of its RentPay feature — the cornerstone of their platform that will manage, track, and remind users of any and all rental payments.

In fact, Rent.com.au’s goal is to provide more control and flexibility for all its users. Whether it be managing payments, paperwork, the bond, or utility connections.

With today’s capital injection though, they certainly have the freedom to explore a range of innovations. Ones that shareholders will no doubt be hoping are as successful as today’s strategic placement…

What’s next for Rent.com.au?

The clear focus is still on RentPay, the imminent feature that will be the core of their platform.

Broadly speaking though, it is still very early days for this company. With plenty of additional features already in place or being worked on.

What will be key though, is bringing in more users. Reaching a wider target market to generate more revenues.

And while it is hard to gauge how successful that endeavour will be, as Slattery notes, this platform has the chance to scale extremely aggressively. A stock that is very similar to, albeit slightly different to fintech.

At the very least, it is taking a lot of the same principles from the fintech sector. Only this time, applying them to the rental market.

Whether it will be successful though, only time will tell.

For more fintech stock analysis though, check out our latest report. Including three of our favourite picks to consider today.

You can get your free copy of this report, right here.

Regards,

Ryan Clarkson-Ledward,
For Money Morning


Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

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