British television presenter Kevin McCloud’s design-led housing development firm has broken the world record for equity crowdfunding by securing investments in excess of £1.9 million from members of the public via online platform Crowdcube. Established by the presenter of television series Grand Designs to build well-designed, affordable and sustainable housing, Hab Housing Limited (HAB) closed its crowdfunding investment campaign last night having beaten the previous record of £1.5 million with pledges of £1,904,540. It is the largest amount of money raised using an online equity crowdfunding platform, where people fund a business in return for a share in the company. This differs from more well-known forms of crowdfunding like Kickstarter, where a community of people donate money online to back individual projects in return for prizes or products. Almost 650 individuals invested amounts ranging from £100 to £150,000 each and now own a combined share of 25.39 per cent of the equity in the business. The money will be used to fund the expansion of the business in the custom-build housing market. HAB hopes to offer investors a five per cent dividend by the end of 2016, but investors have also been offered preferential terms on a HAB custom-build home, […]
The post Design-led housing developer breaks world record for equity crowdfunding appeared first on CrowdFund Beat.