Highlights of Rent.com.au's Financial Year Ended in June 30, 2020 Report

September 26, 2020
Share this Post: 

Rent.com.au, one of the biggest rent-based real estate marketplaces in Australia, has released its financial report for 2020, ended June 30th of this year. 

Highlights from the report include: 

  • Net operating loss after tax of $1,665,215 for the year ended 30 June 2020 ( down from $2,497,183 year-over-year).
  • Overall revenue is $2,452,239, growth of 13% year-over-year.
  • Issued 33,333,333 shares at an issue price of $0.045 per share to sophisticated, professional and other exempt investors, to raise $1.5 million (before costs). 
  • The net assets of the Group have increased from $1,415,643 at 30 June 2019 to $1,795,125.
  • Cash reserves increased from $151,534 at 30 June 2019 to $631,771. 

The key management consisted of the following directors:

  • Garry Garside (Non-Executive Chairman)
  • John Wood (Non-Executive Director)
  • Sam McDonagh (Non-Executive Director)
  • Philip Warren (Non-Executive Director)

Executives: 

  • Greg Bader (Chief Executive Officer)
  • Jan Ferreira (Chief Financial Officer and Company Secretary)

RentPay, which we have recently reported on, was mentioned in the report, as well, as it is the company's latest endeavor while working towards a contactless process in the wake of the COVID crisis. Novatii Group acquired a 2.5% equity shareholding for $250,000 in RentPay Technology Pty Ltd, a subsidiary within the Rent.com.au Limited that owns the RentPay system. 

 

September 26, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Short Term Rentlas Airbnb Oyo Jll
Short Term Rentals Roundup: Airbnb Appointment, OYO IPO and a New Rival

There have been a few important pieces of news coming from the world of short-term and vacation rentals this week....

Read More
Zillow Housing Data
Zillow in Legal Battle for Cheap Local Housing Data

American real estate giant Zillow is backing proposed legislation in Michigan which would significantly reduce the cost of procuring property...

Read More
Prosus Trying To Buy Cian
Prosus Owned Horizontal Avito Reportedly Close To Acquiring Leading Property Vertical Cian

According to reports in Russia, leading horizontal player Avito is trying to buy leading real estate marketplace company Cian.ru. According...

Read More
Adevinta Fintech With Marketplaces Report
The Future is Pairing Fintech with Marketplaces According to New Adevinta Report

The returns of fintech enabled marketplace businesses are far superior to those of marketplaces without fintech capabilities according to a...

Read More

Popular News