Grand Designs presenter Kevin McCloud has raised a record-breaking £1,904,540 through Crowdcube the largest amount ever raised through an equity crowdfunding site for his eco-homes business Hab Housing.
The firm initially set out to raise £1m but its remarkable popularity helped it to become overfunded by 90 per cent.
?From day one, Hab has been fuelled by passion, commitment and vision,” McCloud said. “Although it has felt lonely at times we now feel vindicated and invigorated by the backing of the people who have thrown their encouragement and financial support behind us.”
The firm’s 649 new shareholders made investments ranging from £100 to £150,000 and have now been offered preferential terms on a Hab House of their own, as well as equity in the firm. Hab Housing aims to pay a 5 per cent investor dividend at the end of 2016.
McCloud added: “Crowdcube have been an excellent bunch to work with through the funding process, aiding greatly in demystifying the peer-to-peer funding world.”
Luke Lang, co-founder of Crowdcube, said: ?We re thrilled that an innovative company such as Hab Housing turned to Crowdcube to help it take advantage of the new market opportunity it has identified.
Britain is full of people with great ideas. Crowdfunding is transforming equity finance by giving budding businesses an alternative way to attract investment, through showcasing the opportunity online and inspiring a new breed of angel.