Posts with tag: eMoov crowdfunding

eMoov Raises Record £2.6m Through Crowdfunding

Published On: October 9, 2015 at 1:03 pm

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eMoov Raises Record £2.6m Through Crowdfunding

eMoov Raises Record £2.6m Through Crowdfunding

Online estate agent eMoov has raised a record amount through its crowdfunding pitch, which closed last night.

The bid ended with a huge £2,615,530 from 795 investors. The largest single investment was £575,000. With minutes to go before the deadline, investors were still adding to the funds.

The amount raised was much higher than the initial £1m target, taking eMoov’s fundraising much further than other online agents.

Last year, easyProperty raised £1.35m through crowdfunding.

The original crowdfunding pitch valued eMoov at £20m.

Although higher amounts have been raised via crowdfunding, eMoov has easily beaten other estate agents and property-related businesses, setting a UK and Europe-wide record.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

eMoov Extends Crowdfunding Pitch

Published On: October 2, 2015 at 11:45 am

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Categories: Landlord News

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eMoov Extends Crowdfunding Pitch

eMoov Extends Crowdfunding Pitch

Online estate agent eMoov has extended its crowdfunding pitch, as it more than doubles its target.

Originally due to end on the last day of September, the bid will now run until 8th October.

By yesterday evening, eMoov had raised £2,300,860, much higher than the initial target of £1m.

A total of 659 investors have contributed, representing a 10.8% stake in the business.

Boss of eMoov, Russell Quirk, published a message on Crowdcube, which reads: “Our crowdfunding campaign has been a phenomenal success and I am so grateful to the 650+ investors that have committed to supporting our fantastic business.

“Because of the momentum that we have, the Crowdcube directors have encouraged us to extend the pitch date by a week and we are delighted to agree to this. So it will now conclude on 8th October and allow even more to be involved in eMoov’s progress.

“This fundraise was never just about the money but was also about raising our profile and gaining any number of brand advocates and ambassadors and I’d like to maximise that, of course.

“Thanks to all involved and, please, do encourage your networks to invest too.”1 

1 http://www.propertyindustryeye.com/emoov-extends-crowdfunding-pitch-as-founder-quirk-says-this-was-never-about-money/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

eMoov Sets New Crowdfunding Record

Published On: September 30, 2015 at 1:55 pm

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Categories: Landlord News

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eMoov Sets New Crowdfunding Record

eMoov Sets New Crowdfunding Record

Online agent eMoov hit £2m in its crowdfunding campaign yesterday, making it the greatest raise for a property website.

The firm originally hoped to raise £1m by the end of September in exchange for 5% equity in the business, giving eMoov a valuation of £20m.

Yesterday afternoon, the pitch on Crowdcube hit £2,036,760 from 536 investors, equivalent to a 9.68% stake in the company.

Today is the last day of the campaign.

One analyst, Eddie Holmes, says that eMoov’s fundraising is among the top five for all business types on Crowdcube, and if the total reaches £2.5m, it will be in the top five in Europe.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

eMoov Raises Half of Crowdfunding Target Within Hours

Published On: September 1, 2015 at 12:17 pm

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Categories: Landlord News

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Online estate agent eMoov is marching towards its £1m crowdfunding target, hitting the halfway mark yesterday after its launch on Friday evening.

The fundraising effort had hit £507,380 yesterday afternoon, from 51 investors, with the highest single investment of £250,000.

eMoov will give 5% of equity in return for the £1m it is hoping for, valuing the firm at £20m.

eMoov Raises Half of Crowdfunding Target Within Hours

eMoov Raises Half of Crowdfunding Target Within Hours

Its business plan states that the company has the potential to be valued at £128m. However, it is currently losing money.

In its Crowdcube pitch, eMoov says that it made pre-tax losses last year of £751,941 and expects pre-tax losses this year of £2,003,377.

Next year, it is predicting pre-tax losses of £2,246,717, which will slow to losses of £442,909. In 2018, it forecasts pre-tax profits of £10,681,744.

The pitch states that eMoov was founded to “disrupt a broken, anti-consumer property industry” and expects online market share to hit 50% by 2020.

It says that in July, 341 properties received 533 offers, leading to 246 sales. It also claims that 48% of leads convert into listings.

The firm hopes to grow listings from a current 3,529 to 40,768 by 2018.

The business plan says that within the top 30 online agents, eMoov is a market leader, with a 16% share of all online listings.

It notes that Purplebricks has achieved five star ratings from 85% of its customers, but HouseSimple has poor customer reviews and weak technology.

It describes Tepilo as offering “poor customer service”. Estates Direct apparently has “very poor ranking and listing volumes, they have also priced themselves out of the market”.

Allegedly, Hatched has “problems with senior management, no SEO, very poor tech and lack of automation, mainly lettings focused”.1

In the pitch, eMoov reveals plans to expand into the lettings sector within the next two years, hoping to double the size of the business.

Its exit strategy states that the company will either float on the stock market or sell to a trade buyer within three to five years.

1 http://www.propertyindustryeye.com/money-rush-online-agent-emoov-raises-thousands-within-hours/

eMoov’s Crowdfunding Bid

Published On: August 28, 2015 at 2:39 pm

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Categories: Landlord News

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eMoov's Crowdfunding Bid

eMoov’s Crowdfunding Bid

Online estate agent eMoov is hoping to raise £1m through crowdfunding and is welcoming investment from other estate agents.

Its founder, Russell Quirk, invited early interest in the fundraising yesterday, saying: “Even your most caustic of contributors are most welcome to invest.

“I’d even consider a special sleeping with the enemy discount. They know it makes sense.”1 

The firm values itself at £20m and hopes to have annual revenues of £60m by 2020, in which time Quirk expects online agency to have 20% market share.

1 http://www.propertyindustryeye.com/come-and-sleep-with-the-enemy-quirk-tells-estate-agents/