A total of 649 people are now investors in Hab Housing, a company set up by McCloud, with the vision of building beautiful, environmentally-friendly housing at an affordable cost.
The individual investments ranged from £100 to £150,000 and helped Hab Housing to meet its target in 46 days.
‘We find it gratifying that so many people have joined Hab’s merry band of shareholders,’ said McCloud.
‘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,’ he cooed.
The ‘Hab’ in ‘Hab Housing’ stands for Happiness Architecture Beauty. It was set up by McCloud in 2007 to show mass housing could be designed to create beautiful places.
Investors now own a combined share of 25.39% of the company but in addition to a proposed 5% dividend in 2016, they have been offered preferential terms on a Hab custom build home, invitations to project visits and exclusive events with McCloud. Presumably a dream come true for hard-core Grand Designs fans.
The news comes as the Financial Conduct Authority (FCA) promises not to heap hefty new rules onto the crowdfunding industry when it moves under its jurisdiction come April. It was feared the FCA would try and stop amateur investors from using crowdfunding sites – which would shut down the burgeoning industry.
Well, much like the participants in McCloud’s show, it was touch and go for crowdfunding for a minute. But it pulled through, on time and on budget. McCloud would be proud.