The merger also incorporates online lettings agency Urban.co.uk as the brands aim to transform the estate agency market.

The merged business will be headed by Russell Quirk, CEO at Emoov, and led by a management team including Frank McGlade, CFO; Lucy Milne, CMO; as well as Guy Halfhead, COO; and Ivan Ramirez, co-founder and CTO.

•   Annual house price growth slows
•   Homes near good hospitals worth 14% more than average
•   Housing demand rises in April

“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,” said Russell.

“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 industry.”