eMoov has far exceeded its original target of raising £1m in its latest crowdfunding pitch and, with two days to go, it has raised £1.7m.
Yesterday alone just over £100,000 was invested and over the course of the fund-raising campaign, which began formally on September 1, the largest single investment has been £350,000.
The campaign has been an interesting example of how crowdfunding can work when run by experienced hands.
eMoov ensured an existing 'celebrity' investor - ex-Dragon's Den entrepreneur James Caan - lent his name to the exercise and tweeted support and links, as did the agency's ebullient founder and chief executive, Russell Quirk.
A well-publicised 'friends and family' period of investment was arranged for the three days before the pitch was open to public investors, and then a series of well-timed press releases and social media comments kept the pitch in the public eye.
After only four days the campaign had raised two-thirds of its original £1m target; now the target has been exceeded and may yet be doubled by the end of Thursday, when the investment window closes.
Quirk says his firm is valued at £20m, having secured over £2m in past investments from the likes of Simon Murdoch’s venture capital firm Episode 1.
“We have plans for a further raise in early 2016, with an IPO or private sale anticipated thereafter” says Quirk.