Introducing Rent.com.au (ASX:RNT)

We don't do "nice-to-have" deals. We look for the right teams solving painful, systemic problems in big markets. This is why we're excited to introduce you to Rent.com.au (ASX:RNT), a company laser-focused on making payments and renting easier for Australian renters.

‍

Solving a True Renter Problem

Renting is stressful enough, the bond gap makes it worse. 

To secure a new rental property, the renter needs to pay a bond (typically 4 weeks rent) as well as 2 weeks rent in advance. Their challenge is that the bond from their existing rental doesn’t get released until after they have moved out – this can take weeks depending on their property manager and landlord. 

For those of us still in our 30s and 40s, you’ll remember the pain and process of getting your bond back from the landlord. A few of you are probably the landlords we had to deal with!

Rent.com.au solves this with RentBond, a simple, digital way to bridge that gap with fast approval and in most cases, same day funding. It’s not a standard loan; it’s a clean mechanism that supports financially stable renters to secure their new place.

‍

The Eldium View: High-Volume, Clean Execution

This isn’t a small, bespoke play. This is a warehouse facility supporting a business built for growth through high-volume & high-diversification through tech-driven origination. 

It’s right in our sweet spot - supporting early on, to help the business & book grow properly and underwriting our facility with strong security & downside protection (see more below).

The RNT team’s lending is driven by a clear, risk-managed process. Every RentBond application is assessed based on the applicant’s income, ability to repay, and credit history using secure bank statement analysis. They layer that with sophisticated, risk-based pricing that rewards the best borrowers (those with excellent credit get a discount on loans over $2,000). It’s intelligent underwriting that cuts out the noise and focuses on performance.

‍

The Structure

We deployed a warehouse facility of up to $10 million, built with strong protection:

• $1.5m capital buffer held with Eldium
• Live, read-only access to their loan system - we see the whole book in real time at every drawdown.
• Monthly deployment, and only if we’re satisfied with RentBond’s credit performance
• Receivables-backed security over the RentBond loan book
• First-ranking security over the entire Rent.com.au business (~$55m market cap with ~$6m cash, as at 25 Nov 2025)
  

Simple formula: help the business grow, protect investor capital.

‍

The Investor Takeaway: Smart Diversification

Adding Rent.com.au to the Eldium portfolio means:‍

• Diversified exposure into Australia’s renter market.
• Stronger security, with capital held on our side and security over their loan portfolio.
• Smarter lending, backing a data-driven, scalable platform with a proven digital origination engine.
  

We’re supporting the smart money flow in an essential market, and continuing to deliver differentiated, risk-adjusted returns for our investors.

‍

Disclosure: Eldium Income Fund holds options in ASX.RNT, in addition to earning fees and interest on the warehouse facility.

‍