HomeFundingBritish estate agency disruptor eMoov secures £1.5 million in funding

British estate agency disruptor eMoov secures £1.5 million in funding

eMoov has nabbed £1.5 million in a fresh funding round, led by London-based venture capital firm Episode 1. Reversing the traditional status quo of estate agencies and saving £11.5 million in estate agency fees, eMoov is definitely one platform to watch out for.

We’ve taken the lead position in the online estate agents market – which has doubled its market share every year since 2010,” commented Russell Quirk, Founder and CEO. “It was clear to me that property portals would become destinations for property buyers… Technology has fundamentally changed this industry and consumers simply aren’t getting the service they pay for from traditional high street agents.”

With 3,500 properties sold online and a customer satisfaction rate of 98%, the funding round will be used for marketing and a new customer platform.

Having backed LoveFilm, Zoopla, Betfair, Simon Murdoch, Episode 1’s Managing Partner commented: “We love to invest in innovative companies who are obsessed about providing a fantastic service for customers in large markets. In our view, eMoov is just such a company. The company has the team, product and customer-centric approach to win in this exciting sector and we’re really looking forward to being part of that journey.”

eMoov has since expanded its management team with the appointment of COO Taylor Wescoatt, a former eBay and Time Out product executive, and Head of Marketing Stephen Jury, who previously worked at Motors.co.uk and Ladbrokes.

The residential property industry in the UK is worth over £5 trillion alone, which also explains the launch of Europe’s first property accelerator Pi Labs in London.

By the way: You can find out about other interesting startups from the UK in this list.

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Mevish Aslam
Mevish Aslam
Mevish is the founder and Nomad in Residence at Terminal3.co and Sprinters.co. She empowers remote workers to leave the office cubicle to travel and work from anywhere in the world.

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