eMoov has announced that it has secured a loan of £500,000 to help it expand into lettings, international transactions and license its technology platform.
The funding, which has been lent through Barclays Innovation Finance, is part of a project to help 'innovative' small and medium-sized enterprises.
In the announcement made by Barclays, eMoov is described as a 'hybrid estate agent'.
“We are delighted to be partnering with Barclays and are grateful to them for their support as we grow," says Russell Quirk, eMoov's founder and chief executive.
"They have proven to really understand our business and share our view that such funding will further accelerate our success in selling homes in a better and fairer way.”
Sean Duffy, head of technology, media and telecoms at Barclays adds: “This is an exciting time for eMoov and we’re pleased they have been able to benefit from our fund, which is uniquely placed to support high growth businesses and entrepreneurs, from start-up, to scale up, to IPO.”
Last autumn eMoov held a successful crowdfunding campaign on Crowdcube, raising over £2.25 million.
Quirk said at the time that he was planning a 'further raise' in early 2016 with an Initial Public Offering or private sale still very much in his plans.
The company's estimated turnover was £1.8 million last year.
Yesterday, the agency also announced that it had qualified for the next round of the Virgin Media Business #VOOM competition.
Voting for the competition closed on Monday, with eMoov finishing 19th out of 160 qualifiers.
The firm will now take part in the 'Pitchathon', a 29-hour live streamed Guinness World Record attempt.
Here, the agency will pitch its business to a panel of judges.
The top 40 from this stage will go through to the next round, from which three finalists from each category - 'start-up' or 'grow' - will be chosen.
The finalists will then pitch their business idea to Richard Branson and a live audience in a bid to win an award and/or funding.
“Delighted to have made the cut for the Pitchathon, although I expected we might," says Quirk.
"Looking forward to being part of the World Record attempt and I have a strong team behind me, so I reckon we have a good chance of making it through."
Howard Quirk, a prominent estate agent in the 60s, 70s and...
Emoov’s latest crowdfunding campaign has now gone well over £1.5m, making...
Controversial online estate agent and industry commentator Russell Quirk has hit...
Publicity-conscious online estate agency eMoov claims vendors in London have spent...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.jpg){kind=logo}
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
.jpg)
Tell us a little bit about National Home Move. We are a...
If you’re thinking about becoming an Estate Agency franchise or converting...
Estate agents and lettings agents have a legal obligation to protect...
You don’t have to simply accept things as they are when...
From the uptick in house sales in January to a house price...
Happy birthday to us….and all members of the The ValPal Network! We...
With a combined value surpassing £7.4 trillion, the UK’s 29 million...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
When almost all agents and developers use the tried and tested formula...
I think we can all agree that the National Trading Standards...
.png)
As domestic battery storage systems become increasingly prevalent in UK homes,...
.png)
A team from The ValPal Network joined industry Facebook ads expert...
.png)
In this interview, Riccardo Dawson, Chief Operating Officer at Alto and...
%20(002).png)
In today's fast-paced and ever-evolving property industry, it’s essential that forward-thinking...
A client account is essential to your lettings business, but the...
As electric vehicles increasingly populate our roads and the necessity for...
As estate agents, it is important to make sure that your...
Estate agency has changed. No longer is it required to sit in...
Changes to consumer behaviour usually arrive in waves. Most of the...
At iamproperty we are excited to share the announcement of our...
It’s no secret – 2023 is a difficult year for the...
In an exclusive interview with Estate Agent Today, Simon Coaker, Sales &...
2023 has been coined as ‘the year of AI adoption’, and...
%20(002).jpg)
There are a few common questions that arise when the issue...
As a signage company we know we have a serious responsibility...
The Government’s mini budget on September 23 was anything but ‘mini’...
Agent websites have become more crucial than ever in attracting new...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
Oh dear. When on earth will people stop wasting their money on these online agents??
When your 'local' high street agent starts to charge a realistic fee perhaps...
TRUTH: High street agents spend more money marketing properties this results in better achieved prices which more than pays for their higher fees. They earn nothing if the property is not sold. Cheap bucket shop call centre agents are false economy.
Please login to comment