nothing too exciting here, looking like there will be a new partnership and significant change announced for their rentconnect service before the end of the year ...
they say this will not be material, however they do say that there is a new rentpay app that will deliver a significant opportunity for growth which has received “some external investor interest”, and that they are planning to release this H2FY20 which begins in less than 3 weeks ...
curious to see why they think this new product could change how renting works and improve financial flexibility and control for the renter (rent now pay later? Lol),
Interesting to note their move now pay later product has seen quite a significant spike in applications since offering the Afterpay-like service for moving, I believe this product has hit the sweet spot for renters at the moment and will drive continued usage and uptake for them to engage with their rentpay app (if they can secure anywhere from 5-10% of the market of renters then the market cap they are implying is multiples above where it sits now)
wonder if they are downplaying the recent buying up of 4.2mil shares by hiscock by suggesting that the next news will be something already inferred by the company with some big news planned from Jan onwards for their new rentpay service
will likely see if I can get a decent entry on any pullback after Monday trading resumes to see what unfolds over the next few months, seems like there are a few near term overhauls coming out within the coming weeks.
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