Dylan Price, 17, died after he was hit by a vehicle in Bishop's Castle while walking home in the early hours of Sunday, September 19.
It was the day before Dylan's 18th birthday, and police are still trying to find the person responsible.
A total of £18,467 has been raised by a fundraising appeal set up for "an unforgettable friend" – with the idea behind the fundraiser to offer help for Dylan's family in the wake of his death.
In an update on the Go Fund Me page, Dylan's mother, Louise Price, said the family had been overwhelmed by people's generosity.
She said that it showed the way Dylan had touched the lives of his friends and family.
She said: "We as a family are overwhelmed by the generosity and amount Dylan Go Fund Me has raised & has proven that Dyl wasn’t just the best son/brother/stepson/grandson/uncle.
"But also a one of a kind that once met with that cheeky smile, never forgotten & became a true friend."
She said some of the money could be used for a reward as part of a fresh appeal for information over what happened to Dylan.
Mrs Price also urged those affected by Dylan's death to seek support and help, adding: "Please if you’re struggling, get in touch with Young Minds, that's what they’re for."
Police are still appealing for information about Dylan's death. One suspect has been arrested but he has since been released, with police saying they are "are satisfied he was not involved in the collision".
Anyone with any information is asked to call West Mercia Police on 101 quoting incident 140i of September 19.
People can also visit the force website or speak anonymously to the independent charity Crimestoppers on 0800 555 111.