eMoov’s crowdfunding campaign raises £2.6m

first_imgHome » News » Agencies & People » eMoov’s crowdfunding campaign raises £2.6m previous nextAgencies & PeopleeMoov’s crowdfunding campaign raises £2.6meMoov’s success with crowdfunding suggests that the online estate agency sector may be ripe for growth.The Negotiator14th October 20150617 Views eMoov has raised just over £2.6 million, more than two and half times its target, after attracting 795 individual investors through crowdfunding on Crowdcube.Among the major investors were two venture capital groups, Episode 1 Ventures and Maxfield Capital Partners, which both increased their investment in the online estate agency, while Swiss VC firm Startive Ventures also joined in the funding round.Alexander Lazarev, Partner at Maxfield Capital Partners, said, “eMoov’s crowdfunding success is a clear indication of a long awaited transformation of an old-fashioned industry. eMoov disrupts estate agency by providing significant savings and high quality customer services.“I am glad that crowdfunding investors have recognized this unique opportunity and contributed their capital to eMoov.”Episode 1 and Maxfield Capital have contributed £500,000 and £300,000 respectively, with Startive investing £250,000. In addition, London-based accelerator Seedcamp has also reinvested with £50,000.“We have made unbelievable progress over the last 24 months and this smart money demonstrates the confidence that the professionals have in our business,” said Russell Quirk, CEO and Founder of eMoov.Episode 1’s Managing Partner, Simon Murdoch, was an early stage investor in Zoopla, Betfair, Shutl and LOVEFiLM, and now he believes that the estate agency industry is ripe to be “disrupted by technology”.Simon said, “The benefit of that disruption will be a fairer cost for the consumer, greater transparency and a customer empowerment that simply doesn’t exist when selling property in the UK currently. Episode 1 invested in the team at eMoov because we believe that it has the best approach to succeed and win, in a sector that will achieve an estimated 50 per cent market share by 2020.”Russell Quirk Crowdcube crowdfunding Emoov eMoov’s crowdfunding campaign October 14, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img