AgentTechnology

EMoov, a UK hybrid real estate brokerage, nabs $12M in funding

EMoov is one of several low-fee brokerages gaining traction in UK

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EMoov, a UK hybrid real estate brokerage, has raised an additional 9 million pounds ($11.6 million) in funding, with plans to boost its technology and marketing. It's one of several tech-powered, low-fee brokerages that has been making inroads in a country where the typical commission is around 1.5 percent. EMoov competitor Purplebricks, which has a market cap of over $1 billion, leads this cohort and is about to try to break into California. "The estate agency space is changing drastically and we have always been at the forefront of that change since we launched in 2009," said eMoov CEO Russell Quirk in a statement. "During this time, we’ve watched the online/hybrid sector evolve to become well established with market share more than doubling in the last two years." Having honed a strong technology platform, customer service and management team, " now feel it’s time to accelerate our growth through a clever and sustained marketing investment strategy," he added. Ru...