eMoov looks to crowdfunding to raise £1m

eMoov looks to crowdfunding to raise £1m

Online estate agency eMoov.co.uk is looking to raise a minimum of £1m from crowdfunding.

The fundraising, which values eMoov at £20m, commences on 1st September with a 48 hour preview for existing investors, friends and family and closes on 30th September. Crowdfunding provides a means for anyone to invest in a privately owned business, with a minimum investment of as little as £10.

At the start of the year, eMoov raised over £2m including investment from Simon Murdoch’s venture capital firm Episode 1, and, in December 2013, received seed funding from the former TV dragon James Caan.

Investment funding has provided much need growth capital which has fuelled eMoov’s impressive growth to date. The company’s turnover has increased from £965,619 in 2013 to £2,916,456 (forecast) in 2015. eMoov plans a further raise in early 2016 with an IPO or private sale anticipated thereafter. A £100m+ valuation is expected.

Online estate agency now comprises 8% of the industry having risen from 2% only two years ago. eMoov’s fundraising follows recent multi-million pound fundraisings from Purple Bricks, Estates Direct and easyProperty.


Russell Quirk, CEO and Founder of eMoov, said: “When I founded eMoov in early 2010, it was just me sat a desk in a windowless 8’x8’ serviced office. Today, we employ 45 people and have sold over 4,500 homes with a combined value of £1bn.

Part of our progress has been fuelled by investment partners and advisors who have pumped money, knowledge and time into the business. This latest round of investment will set the scene for even bigger growth, which I believe, as a market leader, will culminate in the online sector taking around 50% of the UK estate agency industry by 2020.

Over recent years I have been approached by numerous investors, friends, family, customers, staff and business colleagues who ask ‘How can I invest in eMoov?’ This is that opportunity.

Our target is £1m, but of course we'd be delighted if we raised even more.”

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brandonlee10
brandonlee10 24 Jul 2017

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IrisJ.
IrisJ. 19 Jul 2017

Great advice, but may I also add that when buying an already built home, make sure you do all of the proper inspections. Most importantly pest inspection because people tend to get surprised when they

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IrisJ.
IrisJ. 17 Jul 2017

The third point is, in my opinion, the most important one. People have become too inconsiderate and careless when it comes to rented properties. If a landlord wants to protect their property, regular visits...

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cornishalan
cornishalan 10 Jul 2017

Added to the cost of purchasing these village properties are the above average maintenance costs. Particularly where the property is a listed building or requires specialist building skills such as thatching...

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Jo Mullett
Jo Mullett 07 Jul 2017

Here in Swansea, known as the Japanese knotweed capital of the UK, it never fails to amazes me that people have no idea of the potential problems this invasive non-native plant can cause when buying or...

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NathanG
NathanG 05 Jul 2017

McDonalds, for example, have been purchasing their real estate on prime locations for years. If something happens to the company they'll have invaluable assets that will be able to save them. We might

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Jonah
Jonah 04 Jul 2017

Graham: surprised to see you cite the "extra tax liability" as capping out at ?560. It doesn't - the extra tax is exponential, as it is levied on the income (i.e the inflating level of rental income you...

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Dianne Griffen
Dianne Griffen 29 Jun 2017

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SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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Bertrand
Bertrand 02 Jun 2017

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"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

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