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- December 1, 2023
“This programme is exactly what RentLondonFlat needs to actualise our potential as a disruptive new-wave PropTech platform. We look forward to passing these material and knowledge gains onto our clients as we strive for excellence.”
— EuGin Song, Managing Director, RentLondonFlat.com
RentLondonFlat has been selected for the 10KSB programme run by Goldman Sachs in partnership with Oxford University. Success in the competitive selection for this programme, which has a proven track record of boosting profits and job growth for small businesses nationwide, bodes extremely well for RentLondonFlat’s UK prominence in the PropTech market.
EuGin Song, managing director at RentLondonFlat, expressed his delight at the opportunities opened up by this selection: “Out of 6 million businesses in the UK, only 140 are selected, so we are very pleased at this result. We absolutely share Goldman Sachs’ enthusiasm for small businesses and believe in their centrality as the engine for growth in the UK. We have very much embodied an agile, start up-like culture at RentLondonFlat, and now we are set to take our business, and the vision we have to transform the UK property market, to the next level.”
The prestigious 10KSB accelerator programme boasts an impressive history of helping small businesses achieve that jump up to higher echelons to which Song refers. If one considers that 99% of employer firms in the UK are small businesses, it is clear to see both that this programme is highly relevant to UK industry, and also unsurprising to see that competition for selection is stiff, to say the least!
This world-class Goldman Sachs-Oxford University business education programme has helped over 1,800 graduates produce over £2.8bn worth of revenue and sustain more than 40,000 jobs to date, handily outperforming the broader economy, in addition to changing the stakes for other players in the game.
Song, who founded RentLondonFlat and who hails from a banking and technology background, continued: “RentLondonFlat started off with a tiny market presence and humble resources, half of the staff were apprentices hired out of secondary school. Clients were mostly sourced through family and friend connections. Now, we stand on the precipice of making our vision a reality: a truly revolutionary artificial intelligence-guided property lettings, consulting, and property management service, with customer service excellence at the core of our service delivery.”
Speaking specifically to the timing of this selection, Song pointed to “the revenue impact that the 10KSB programme has had for other businesses (i.e. revenue doubling on average within a few years after completion).” He affirmed that “this is the perfect time for RentLondonFlat to be making this forward step to catapult us in our business trajectory. Make no doubt about it: we are hitting the ground running in the post-COVID era.”
Indeed, RentLondonFlat is already ahead of where many other businesses were when they entered this programme, 62% of businesses launched a new product or service in the year after completing the programme. R.A.i.ATM , RentLondonFlat’s patented centrepiece PropTech offering, has been in already development and internal deployment for some years.
“We wish to attract and foster the best, brightest, creative minds to help us take R.A.i.ATM to market,” Song said in conclusion, “the 30% productivity gains and 16 times faster revenue growth induced by the 10KSB programme are exactly what RentLondonFlat needs to actualise our potential as a disruptive new-wave PropTech platform. We look forward to passing these material and knowledge gains onto our clients as we strive for excellence.”