With less than 24 hours until its equity crowdfunding campaign closes on Crowdcube, Verto Homes has raised over £1.6 million thanks to nearly 535 investors. The London-based builder notably designs, builds, and sells intelligent, sustainable homes that produce and store clean energy from the sun.
Each of the houses does not burn fossil fuels for lighting or heat and each is featured automation technology and is controlled by a smartphone app, called Vesta, which was launched on iTunes in 2015. The homes are available starting at £190,000. The company was founded in 2010 by entrepreneurs, Tom Carr and Richard Pearce. The company shared:
“Tom and Richard set up Verto Homes because the way homes are built in the UK has to change and it has to change now. Why? Because the national house builders have been building the same traditional and highly unsustainable homes for decades and it is dramatically contributing to global warming. In total 27% of the UK’s carbon emissions come from the residential housing sector, so if we want to reduce people’s carbon footprint, their homes are the obvious place to start.”
The Verto Homes team reported they had built 37 homes with a “gross development value” of around £12 million. Verto points to a funding round on Angels Den where they raised £900,000. The money was said to be used to purchase Hilgrove Mews. It was also revealed the company secured £4.4 million in private equity for site purchases to date. Despite its crowdfunding success, Verto Homes has been met with some questions about Carr and Pearce in regards to their past real estate experiences.
Despite its crowdfunding success, Verto Homes has been met with questions about Carr and Pearce in regards to their past home building experience. Following the initiative’s launch, FantasyEquityCrowdfunding revealed former project, Manor Rose, is currently being in liquidation following a legal action. A representative from Crowdcube shared with Crowdfund Insider both founders had departed Manor Rose before the allegations and associated legal action surfaced and were not involved.
In a recent update, Verto Homes stated Pat Lambshead, Cornwall Councillor and former Newquay mayor, visited for a grand tour of the company’s projects. Check out what he said below.
The campaign is set to close later today.
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