Kevin McCloud’s Hab Housing Breaks Equity Funding Record
A project on platform Crowdcube breaks the equity crowfunding record by raising nearly £2 million!
Founded in 2007 by Kevin McCloud, who brought us the popular Grand Designs TV show, Hab Housing is a 21st century housebuilder, born out of the broadcaster’s frustration with what he considers to be "the poorest quality housing in Europe."
"I’m sick and tired of noddy houses" added McCloud, saying that current UK housing "has to look as though it could belong anywhere."
The philosophy of his firm is to make well-designed houses that are happier places for people to live in. Indeed, the business name, Hab, is short for Happiness, Architecture, Beauty.
With his drive to build homes fit for the new century, McCloud embarked upon raising £1 million for his project through Equity crowdfunding platform, Crowdcube.
After 46 days the broadcaster’s pitch had made the full amount and, after extending the pitch, was overfunded by 90%.
In all the Hab Housing pitch raised £1,904,540 making it a record breaking investment for the innovative crowdfunding platform.
Hab Housing now has 649 new shareholders with their investments in the scheme ranging from just £100 to £150,000.
The developer will continue to build environmentally-friendly housing using modern day techniques and hopes to become the leading custom-build, affordable-home business in the UK.
Speaking about his firm’s achievement, Kevin McCloud said:
“We find it gratifying that so many people have joined Hab’s merry band of shareholders. From day one, Hab has been fuelled by passion, commitment and vision, and 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. 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, Crowdcube’s co-founder added:
“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.”
Investors now own just over 25% of the equity in Hab Housing and are expected to earn a 5% dividend by the end of 2016. They have also been offered preferential terms on any Hab homes as well as invites to visit the projects and exclusive events with Kevin McCloud.