Bevan Slattery earns millions with investment in rent.com.au start up

Rich lister Bevan Slattery has proven once again that he’s got the Midas touch with a recent investment in a start up company proving very lucrative already.

Rich lister Bevan Slattery has proven once again that he’s got the Midas touch.

The Brisbane tech titan and serial investor tipped $2m into rental business Rent.com.au this week and he’s already more than tripled his money.

Slattery’s investment represented the bulk of the company’s $2.75m capital raising at 5c a share.

His vote of confidence in the WA-based start up helped put a rocket under the stock, which continued gaining ground on Wednesday as it hit a high of 22c before settling back to close at 18.5c.

Bevan Slattery has made a quick buck on a recent investment.

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

The firm, which provides a raft of online tools for both tenants and landlords, is getting ready to launch something called “RentPay” to give renters more control over payments.

While it continues to lose money, Rent.com.au has just reported a second successive quarter of positive earnings growth as its market capitalisation swells to more than $44m.

Company boss Greg Bader described Slattery’s involvement as “fantastic’’.

SCREWS TIGHTENING

The corporate cop continues tightening the screws on would-be Dunk Island saviour James Mawhinney, whose dream of creating a $1.6bn tourism mecca around Mission Beach has turned to ashes.

We learned this week that ASIC hopes to secure court orders to permanently restrain the boss of the Mayfair 101 funds management group from a raft of activities, including the advertisement of any financial products or solicitation of money for them.

Mayfair 101 managing director James Mawhinney Source: Supplied

Mawhinney, who denies any wrongdoing, is vigorously defending the case, which will be heard in court later this month.

The challenge comes as ASIC just claimed a significant win against the Mayfair group, winning court orders to wind up its M101 Nominees Pty Ltd, which had raised about $67m from investors.

Liquidators had previously taken control of another entity in the group.

Mawhinney announced plans in late 2019 to buy Dunk Island for $31.5m from Peter Bond, the founder and boss of failed Linc Energy. But the Bond family has now regained control of the island and put it back on the market.