Hybrid Estate Agent eMoov raises a further £9 Million. We interview Founder Russell Quirk:
For sure the estate agency space is changing rapidly and the likes of hybrid and online estate agencies are making a big entrenchment in the industry and many are here to stay for good.
Just recently, eMoov secured a further £9 million of investment to bring the total invested into this hybrid estate agency to £15 million.
I can remember visiting the founder Russell Quirk many years ago when he was running eMoov in Halstead in Essex and since then he has always remained a close contact and supporter of innovation within the UK property industry… I decided to throw him a couple of quick questions following his and the team at eMoov’s £9 million investment from the likes of Maxfield Capital and Episode 1 VC:
‘”What does it mean to eMoov and to the UK property industry for consumers buying/selling/renting has a whole this further investment you achieved?”
This investment will further our expansion and put us in front of more potential property sellers than ever. It will also be deployed via our technology team to enhance the HERO platform and to ensure that customer experience remains as the best in the UK property industry whilst also cutting back office costs considerably. More consumers will benefit and therefore the eMoov business will benefit from growing revenues and enterprise value.
To the wider industry I believe that the door is closing on those that do not offer a customer first, technology enabled proposition now. Online and offline estate agency players alike will begin to consolidate rapidly now as the market is divided through fewer, bigger spending, customer centric, platform focussed participants.
“How important is proptech to the advancement of eMoov – Will you invest in this sector to further expand on your market share?”
PropTech remains a fragmented community but one that will evolve as businesses like eMoov stitch the component parts together to make defensible, interesting and user beneficial propositions. We will continue to keep a keen eye on the PropTech space and yes, who knows, we may well decide to collaborate with partners in the future. There are a lot of compelling ideas and founders in the scene currently but also some start ups that aren’t really solving anything. A classic wheat from chaff thing and which takes some tip toeing through.
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