UK-based property portal, The House Shop, has recently stated it has cancelled its £500,000 crowdfunding campaign in the wake of the project disappearing from the Crowdcube fundraising platform with little to no explanation.
Sebastien Goldenberg, chief executive of The House Shop, said that the raise has now been taken private.
He said: “We had a lot of interest privately and many weren’t keen on crowdfunding.”
The property website had raised more than half of its target at the end of November but Goldenberg would not disclose how much has been raised privately instead.
Any amount pledged by investors on Crowdcube will not have been taken by The House Shop as money is only sent if the project completes and the full amount is raised.
Crowdcube confirmed that the project has been taken down.
Meanwhile, mystery surrounds a £295,000 crowdfunding project run by online agent 99home at the end of last year.
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