The milestone was reached on 3 December with an anonymous donation of £1,500, pushing total fundraising to more than £100,000.
On Friday 30 November over 1,000 people from more than 70 businesses spent the night sleeping on the streets at over 35 events across the country.
A team from AE3 Media, parent company of Mortgage Solutions, raised more than £3,300.
The idea for the event came in August, after Brightstar CEO Rob Jupp and Atom Bank director of retail mortgages Maria Harris, discussed the problem of homelessness on Twitter and suggested fund-raising.
As a result of it, a number of mortgage brokers and lenders voiced their interest in taking part in the event.
Jupp initially wrote on Twitter: “Shocking how many ‘rough sleepers’ there are in London. I can’t remember a time where there have been so many. It’s a national outrage.” In response Maria Harris suggested a sleepout to raise funds and awareness.
Praising the fundraising efforts, Jupp said: “When we first started planning Mortgage SleepOut, we set our sights high with an extremely ambitious target of £100,000 and I am completely overwhelmed that so many heroes have come together and delivered such a Herculean effort.
“But we’re not done yet. Every extra £25 puts a roof over a young person’s head for a day, giving them the healthcare, education and employment they need to turn their lives around.
“The Just Giving page is still open and our musical heroes, Mortgage Industry Collective (MIC) will be releasing their charity single, Take Me Home, in the next few days. Let’s see how much more we can raise to help eradicate homelessness.”
Alan Cleary, managing director at Precise Mortgages, said the generosity of the mortgage industry meant thousands of young people in desperate situations will have the support they need to get back on their feet.