The House Shop has revealed it has cancelled its £500,000 crowdfunding campaign, after the project disappeared from the Crowdcube fundraising website with little explanation.

Sebastien Goldenberg, chief executive of The House Shop, told EYE 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.

It had reached £350,000 on Crowdcube in November but now its profile on the crowdfunding website says it has raised £292,000.

Its co-founder told EYE last night that the fallout from the collapse of Emoov following its crowdfunding round had deterred some investors which meant some of the pledged funds were not sent when required at the end of the campaign.

Vijay Vashistha, co-founder  of 99home, said: “The Emoov episode heavily affected our funding.

“At the moment, it’s at 99% but I will confirm once we receive all the funds.”

Crowdcube said: “The £292,000 listed on the website has been pledged, but the fundraising process has not yet reached completion.”