Major industry merger with Emoov, Tepilo and Urban.co.uk
31 May 2018 by
We’re delighted to announce a first of its kind £100m merger with fellow hybrid estate agents Emoov and Tepilo. The merger positions the combination as the second-largest digital Estate Agent in the UK. The three powerful brands have come together with a commitment to put the customer first and to pioneer the future of estate agency with transparency, technology and empowerment at the heart of everything we do.
This is a pivotal move in the fast-growing digital sales and lettings sector and is designed to place us as one of the absolute winners in the space. We’ve joined together two of the best known fixed fee estate agency businesses to make the ‘Number Two’ contender; along with one of the UK’s most established online lettings companies, and a war-chest of £15m in new cash and media power. Strategically, this is a powerful combination and with the very best senior team to deliver on our plan to improve and further dominate the estate agency industryRussell Quirk, Founder and CEO, Emoov.co.uk
Leading the consolidation of the property sales sector with the acquisition of Tepilo, Emoov also launched a major assault on the world of lettings with the inclusion of Urban.co.uk, one of the best online lettings platforms around. This adds to the waves that they have already made in the online sales space with the ‘first to market’ innovative Pay Only When Sold proposition amongst other initiatives, ensuring their customer-first ethos is always met. Together, the three brands have attracted over 60,000 customers to date and we’re excited about increasing this as one united force.
Being part of a much larger group of property specialists with significant resources to deploy for growth, is truly exciting. I’m proud to be joining the senior team at Emoov to advance our progress as the go-to player in better value home sales and rentals.Adam Male, Founder, Urban.co.uk
The merged business will be headed by Emoov CEO Russell Quirk and led by a strategic and experienced management team of CFO Frank McGlade (ex Just Eat; Deutsche), CMO Lucy Milne (Just Eat; EE), along with COO Guy Halfhead, former COO of Bookatable.com and CTO & Co-Founder Ivan Ramirez, former Global VP of Product at Groupon.com, plus Adam Male of Urban.co.uk as Director of Lettings.
The newly-enlarged business has secured a total of £15m in new funding – from existing and new shareholders, as well as an additional investment from Channel 4 with them providing advertising, plus from Northern & Shell, Tepilo’s largest shareholder, via Sky, putting the combined business on track for strong growth this year and beyond.
Being part of a much larger group of property specialists with significant resources to deploy for growth, is truly exciting. I’m proud to be joining the senior team at Emoov to advance our progress as the go-to player in better value home sales and rentals.Vinay Solanki, Head of Commercial Growth Fund, Channel 4
Channel 4’s investment, from its Commercial Growth Fund, will provide us with Channel 4 airtime to drive growth through a major TV advertising campaign. This commitment from Channel 4 adds to Tepilo’s existing relationships with Northern & Shell’s extensive advertising inventory via Sky, Channel 5, Express and Mirror newspapers.
Tepilo was one of the first businesses we worked with as part of our media for equity initiative and we are delighted that Tepilo, along with Urban.co.uk, is now part of Emoov. Together, they represent an exciting and competitive business with the critical mass and management team to become a major force in online estate agency and lettings.Richard Martin, Commercial Director, Northern & Shell
I founded Tepilo in 2009 with the intention of putting the customer at the centre of their own property transactions. This deal creates a truly powerful partnership of property experts that are focussed on doing right by the customer and improving the home buying, selling and rental process for all. I’m truly delighted with the combination of the Emoov, Tepilo and Urban.co.uk families to form such a valuable proposition.Sarah Beeny, Founder, Tepilo
Let my property online from
£99 inc VAT
FREE Instant Online Valuation