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TODAY'S OTHER NEWS

Revealed - the investors behind eMoov's £2.25m funding injection

An entrepreneurial website has revealed the investors behind this month's crowdfunding success by online agency eMoov.

Episode 1 Ventures and Maxfield Capital Partners - two existing large scale investors in eMoov - have been joined by Swiss venture capital firm Startive Ventures in putting additional funding into the high-profile online estate agency. 

eMoov recently attracted over £2.25m in new investment through crowdfunding platform Crowdcube. 

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The Grow Business website has revealed that Episode 1 and Maxfield Capital have contributed £500,000 and £300,000 respectively with Startive investing £250,000. On top of that, London-based 'funding accelerator' firm Seedcamp has invested £50,000.  

Over 630 investors put in between £10 and £500,000 each in the crowdfunding round, which was extended beyond its original deadline because of the scale of investor interest. 

The website says Episode 1, Maxfield Capital and Seedcamp were all part of a multi-million pound fundraising earlier this year. 

Since eMoov first sought investment in 2013 - when it received seed funding from ex-Dragon's Den entrepreneur James Caan - the company’s turnover has increased from £965,619 to an estimated £1.8m. 

eMoov is forecasting turnover in 2018 to be in excess of £39m largely driven by growth in the online sector, a new lettings proposition, upselling and global expansion. 

Estate Agent Today has already revealed that eMoov plans a further (non-crowdfunding) fund raising schedule early next year with an IPO or private sale anticipated in the next few years

  • Chris Arnold

    Congrats to eMoov for pulling off this fundraising. Whilst not a fan of online agencies in general, it is still quite an an achiement.

  • Russell Quirk

    Thanks for the mention. The round closes today and we've just hit £2.5m by 730 individual investors

  • Glenn Ackroyd

    Congratulations Russell. The video and pitch was top notch. 2.5x oversubscribed is a mighty vote of confidence in you and your business.

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    Can't argue with the amount of money raised - there are obviously lots of techies/VCs who have been sold by eMoov. One question: who would invest £10 in a crowdfunding campaign? How bizarre

  • Kristjan Byfield

    2000% growth in 3 years is an interesting target although intrigued to see how profitable the business can be with such aggressive plans- sounds like a lot of advertising. Always seen a valid place for online agents in our marketplace but with other established brands and other big funding efforts from the likes of EasyProperty I'm intrigued to see just how much market there is to share.

  • Craig Rossiter

    Well done Russell, good to see the market backing online as the way forward. I firmly believe that the growth forecast is achievable and that our sector will see a massive sea change over the next 5 years.

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    Hmmmmm.......

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    Wonder what these investors are thinking now?

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