The presenter was seeking to raise a minimum of £1m through the website Crowdcube, so that Hab Housing, the development company that McCloud set up in 2007, can expand into the so-called custom-build house market.
In return for investing as little as £100, investors will receive a dividend of 5 per cent on their cash from the end of 2016. They will also be entitled to a 5 per cent saving on any purchase of a Hab home up to the level of investment.
The company reached this ambitious target this week, with £1.1M coming in from 330 investors, meaning that these individuals collectively own 13.33 per cent of Hab Housing.
The company had extended its initial deadline by a month to September 29, and is in discussions with the HM Revenue & Customs to ensure it qualifies for tax relief under the Enterprise Investment Scheme.
“We’ve been keeping an eye on crowdfunding for a while,” said Mike Roberts, managing director of Hab Housing. “We liked the idea of putting people at the core of our business, but it was really only over the last number of months that the level of investments being reached through these websites became relevant to the business.”
