THE innovative Worcestershire-based fixed-fee estate agency headed up by Poundland founder Steve Smith has completed its fundraising, securing almost double its £250,000 target. EstatesDirect.com of Kidderminster offered a five per cent equity stake in the business and raised the money through crowdfunding portal Crowdcube. The company has smashed its target, attracting £494,000 for a 9.88 per cent of equity from 190 investors. The largest single investment was for just more than £200,000.
Mr Smith, who is chairing EstatesDirect, said: "I am overwhelmed by the response EstatesDirect.com has received on Crowdcube: £500,000 in just 14 days."
The business was launched in 2012 and allows customers to sell or let any property online for a fixed fee. It was co-founded by DatingDirect.com pioneer Darren Richards and entrepreneur Ben Grove.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here