Russell Quirk’s son has pitched in to defend his father and sought to soothe the disappoint felt by staff and both private and institutional investors who sunk millions into the company.
Callum Quirk worked at eMoov with his father as initially a marketing assistant and later its product consultant. Before that he worked at Crowdcube, the funding platform where eMoov raised much of its money.
This included £1.15 million raised in July from staff, family, friends and past customers and £2.62 million in 2015.
Callum confirms eMoov continues into administration but says it made “a significant contribution to giving traditional entities a well-needed wake-up call”.
He also says he regrets the ‘unfortunate time’ for investors including ‘ordinary people’ and the staff with their ‘finances on the line’, but he also claims that: “It should be recalled that both funding rounds were also backed by established VCs with financial information and forecasts outlining the future prosperity of the business.
“This was no ‘punt’ but an investment with one’s own capital at risk.
“Everyone should be fully aware that there is never a guaranteed pot of gold when making investments despite any noted previous success.”
But his father now has a swansong despite the demise of eMoov. Russell has today been voted No.23 in the UK tech top 500 Tyto ‘power list’ for 2018. He’s the highest-ranked property CEO and, along with Dominic Wilson of PiLabs, the only property business leader on the list.
The only other industry name on the list is journalist Graham Norwood although there may be more – Tyto only publishes a fifth of its power list; 31 are involved in the proptech sector but aren’t included in the published 100 people.