Love2Move cancels crowdfunding campaign on Crowdcube

Love2Move, an online real estate agency platform, has cut short its bid for investment through a crowdfunding platform that has been through a few controversies.

The platform - which allows existing High Street agencies to run white-labelled online sales operations alongside traditional services - wanted a relatively modest £120,000 investment.

It was using the Crowdcube platform, the same one used by Emoov last summer. That agency raised almost £2 million but then went into administration just before Christmas. 

Since then there has been a flurry of allegations and recriminations about the accuracy and volume of financial information given to crowdfunding investors, and the responsibilities of companies seeking funds to disclose information. 

Love2Move reaches only 68 percent of its target fundraise before pulling the plug, with founder Mark Worrall issuing this statement to Estate Agent Today and to investors over the weekend: 

“Dear Investors, We have really appreciated the opportunity to introduce love2move to the crowd and we thank you for your support. However we have decided to close our fundraising campaign off the Crowdcube platform and it is our intention to close this funding round privately by the end of the month. We hope you continue to follow our progress through our social media channels with the handle @love2movehome. Thanks, the love2move team.”

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