Just a couple weeks after launching its latest equity crowdfunding campaign on Crowdcube, online real estate agency eMoov has successfully raised £1.5 million from nearly 700 investors. The funding round launched earlier this month and surpassed its initial £1 million funding target in less than 24 hours.
As previously reported, eMoov provides a fair cost solution to selling across England, Scotland, and Wales. It also offers a low fixed fee, technology-enabled consumer empowerment, 24/7 access, and a ‘customer first’ service proposition. The company claims it has achieved “Number 1” status for customer service (AllAgents) for the last three years.
“Our team of Local Property Agents visit the home to provide a valuation (just like a high street estate agent). Our centralised team of administrators, negotiators, and sales progressors oversee and progress each transaction so that the customer doesn’t have to (just like a high street agent). We charge a fixed fee of either £1,995 (on completion) or £895 upfront. High street estate agents typically charge 1%+ VAT of the sale price (£3,000 avg).”
The launch of eMoov’s latest Crowdcuber round comes just after the company merged with Tepilo and Urban.co.uk. The company secured £2.5 million through its first Crowdcube funding round. Other achievements include:
- FT Top 50 Innovator of the Year
- UK Prop-Tech Association Best Marketing Campaign
- Best Online Agency (2018)
- Best Hybrid Agent (x3 winners)
“Our original aim for this campaign was to raise £1m from the crowd and including previous Crowdcube supporters, customers, friends, staff and so on. In less than five days we are well on the way to £1.5m with some sizeable investments being pledged daily. We’ve discussed at length internally whether we should close the campaign early now that we have achieved 50% more than we had intended however we have decided that given its success so far we will continue to overfund and see where this goes.”
The campaign’s currently set to close at the beginning of August.
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