As widely reported, peer to peer investment platform, the House Crowd, was placed into administration on Wednesday 24th February 2021.
House Crowd Developments and its associated development projects (SPV’s) are separate entities to the House Crowd. These companies are not in administration.
The House Crowd was a major funding stream for House Crowd Developments and the administration process is expected to cause a short temporary delay to construction until funding is approved for release to assist with the completion of the remaining projects delivered for the platform.
All projects are classed as assets by the House Crowd administrators.
House Crowd Developments continues to be owned and operated by Frazer Fearnhead and Justin Molloy. Frazer co-founded the House Crowd in 2012. In December 2019, he stepped back from day to day operations of the House Crowd and appointed a new Chief Operating Officer to run the House Crowd so he could focus on the development businesses.