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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Tom Allen
Tom Allen 20 Sep 2017

Absolutely agree with you!

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RyanGeo
RyanGeo 18 Sep 2017

A sharp correction would be a less dramatic expression to use. That is already underway in certain sectors in Reading where I practice as Chartered Surveyor

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sean benton 01 Sep 2017

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Mark N.
Mark N. 30 Aug 2017

We have seen a surge in instructions over August and that should continue into September too.

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Chris
Chris 30 Aug 2017

Unfortunately, all the legislation bears its force on Landlords and ignores, naively, the effect of Rogue Tenants on the ability of landlords to keep houses in repair and offer properties for rent at reasonable...

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Christian Donovan 18 Aug 2017

The write-down on house values, combined with the fall in the GBP saddled the fund?s property portfolio with a 1.4% loss in the second quarter. The shocking amount of $240 million.

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Samantha Goodman 11 Aug 2017

Interesting point of view.

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brandonlee10 24 Jul 2017

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IrisJ. 19 Jul 2017

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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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