Chilango has closed its latest crowdfunding round at £3.4m, with its largest investment of £400k coming in a day before the fund raising ended, with over £500k invested in the final 36 hours.
The company, which previously raised £2m though a mini-bond, was offering 3.26% of its equity as it looked to raise £1m – but it exceeded its target with 1,519 investors pledging a total of £3.43m Its largest investment was £400,000 while over £500,000 was invested in the final 36 hours of the round.
It had extended its Crowdcube campaign until 1 December after receiving interest from individuals wanting to invest large amounts in the campaign.
Co-founder Eric Partaker told M&C last momth that the campaign hadreceived significant further interest from investors and a surge of properties being offered to the team.
He said the property pipeline is “looking amazing”; Chilango has made offers on five properties since the campaign has been running and Partaker said there are a number of promising sites that it will make offers on.
“If there’s still money on the table and if we have more properties popping up, then we want to strike while the iron’s hot.”
