Tech entrepreneur Bevan Slattery has made another investment into another ASX tech stock and it has more than doubled this morning.

The recipient is (ASX:RNT) which has products for the rental market including bond financing and tenant checks.

The investment by Slattery came as part of a $2.75 million capital raising conducted at 5 cents per share. Slattery invested $2 million of that amount.

Today shares surged to over 10 cents in early trade – a 144 per cent premium to yesterday’s closing price. (ASX:RNT) share price chart



Why Bevan Slattery ‘loves’ this investment

Bevan Slattery was succinct as to why he made this investment.

“I love disruptive platforms that have the ability to scale and has great potential to achieve that goal,” he declared.

“I look forward to supporting the Board and management team and am excited to be backing another innovative Australian technology platform.” is the latest investment by Slattery, who has a proven recent track record of boosting stocks.

In the middle of last year he invested in HR tech company intelliHR (ASX:IHR) and geospatial cloud-based data-as-a-service company, Pointerra (ASX:3DP).

Both stocks have notched up substantial gains, gaining 320 per cent and 890 per cent in the last year.

Slattery has been involved in other companies too, founding Pipe Networks (which was acquired in 2010), NextDC (ASX:NXT), Megaport (ASX:MP1) and Superloop (ASX:SLC).’s CEO Greg Bader lauded the news of Slattery’s investment into his company as “fantastic”.

“Bevan has a well-earned reputation for innovation and disruption across the technology sector and having Bevan come on board as a major shareholder is fantastic,” he said.

“I am excited that Bevan shares our vision for the platform and this additional investment will maximise the potential of our upcoming RentPay launch and provide additional working capital for marketing and product development.”

In announcing Slattery’s investment, the company reminded shareholders its portal just recorded its second straight profitable earnings quarter and its was “readying to launch” its latest product RentPay.