Episode 1 leads £1.5m round for eMoov

Following completion of the deal, eMoov will invest in marketing and launch a new platform enabling the automated booking and logging of viewing appointments.

The VC stated it was attracted to the deal by eMoov’s management team and the potential for growth in the online property market.

The investment is the latest in a series of investments in the UK property technology industry. In September last year, Octopus Investments led a £1.25m round for Property Partner, a crowdfunding platform for buy-to-let properties, while VC-backed property search website Zoopla floated with a £919m market cap a few months earlier.

In response to the emergence of such businesses, a consortium of high street estate agents has set up its own property portal branded as Agents Mutual, which has been accused of anti-competitive behaviour by both eMoov and Zoopla.

Previous funding
Spire Ventures led an early investment round for eMoov in January 2014.

Company
Founded in 2010 and headquartered in Brentwood, eMoov is an online estate agent. The business stated its online process reduces the typical fee paid by property vendors from around £4,000 to £395.

People
Simon Murdoch is managing partner at Episode 1. Spire Ventures partner Faisal Butt is chairman of eMoov. Russell Quirk is founder and CEO of eMoov.

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• Topics
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• UK / Ireland
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• United Kingdom