Online agent Emoov has launched another crowdfunding round – and within hours has raised almost its entire £1m target.
Yesterday, at 11am, it launched its bid on Crowdcube, privately inviting only previous investors to invest further.
By around 5.30pm it had raised £733,160. By this morning, it had raised £933,220, from 87 investors, with Emoov’s valuation at £104m.
At £1m, their investment will get them just 0.95% equity in the business which describes itself as number two to a £1bn competitor – Purplebricks.
CEO and founder Russell Quirk said the new crowdfunding campaign was in consequence of the recent ‘merger’ with Tepilo and Urban.
He said previous investors had expressed eagerness to pitch in to the newly enlarged business.
This morning at 9am, the Emoov crowdfunding pitch is due to go live to a wider audience.
In 2015, Quirk launched a £1m crowdfunding bid on the same platform and ended up with £2.6m in the coffers.
In the invitation to previous investors to re-invest Emoov says its ambition is to float on the stock market “in the coming months”. It also says that it is “heavily backed” by venture capitalists, Richard Desmond, Sarah Beeny and James Caan.