SeedInvest Reviews 13

Stay away Stay away
If i could rate this zero stars I would. Place is a total scam

Well, they want to pump investments from you, if you are a qualified investor, BUT NOT TO FACILITATE INVESTMENTS FOR YOUR STARTUP if you are an entrepreneur. They do not mean to help you to bring investments into your business. They have their own businesses to finance.
I wonder where they get their "startups" for investors, but looks like definitely not from their platform.
When you send them a pitch and business plan the answer is "It is too early a stage for your company to apply for investment through our platform"
(sounds nice for a platform named "SeedInvest.com" and "StartEngine.com", which are the same, actually).
Both "SeeInvest.com" and "StartEngine.com" appear to be harsh and misleading misnomers. I have sent a request for the company that is operable for 2 years, making 500-700K a year, and looking for funds to expand. The answer was, of course:
"it is a too early stage to apply for financing". (?!)
Looks like StartEngine is glad to help you long after you have started your engine with somebody else, and SeedInvest will be there to help you only long after your crops have grown.
Not exactly a hoax, I guess, but a subtle misrepresentation close to it, causing a tremendous waste of time for aspiring entrepreneurs and breaking their hopes and enthusiasm through misleading manipulation.

I got scammed by SeedInvest and NowRX. NowRX gave the impression that everything was going well. I did my due diligence, but they were just acting. Great pitch deck. They had job openings posted. Newsletters that made it seem like all was well. Then all of a sudden bankruptcy. I have a feeling SeedInvest was in on this scam. They did heavy promoting for NowRX. And just so happen to sell their company shortly after NowRX goes out of business.

Now this seedinvest is being acquired StartEngine has officially acquired SeedInvest, and together we aim to take startup investing further than ever before.
Yeah further lining their pockets. I ran into the same with NowRX. Bought in June 2022 and lost it all March 2023. I agree we were duped and see if someone would start a class action suit.

They promoted NowRX as a new opportunity to invest in. NowRx goes belly up months later. How much money did Seed Invest make off of this. I believe there needs to be a class action lawsuit to retrieve funds from those that were swindled.

con artist don't do business with them they took my money and could careless like it's their job. Need to be shut down.

Invested in NowRx and right after that the company is getting dissolved. Seems like they knew that they were going under but yet requested finds from everyone and then they say our shares are worth 0. Really where did the money go. Right into someone's pocket. Anyone out there want to create a company and go on seedinvest to display our great company and then take everybody's money. FTX sound familiar

March 2022. SeedInvest raises more than $22 million for a startup. Less than a year letter the investment is worth $0. "Company" went "bankrupt." Fraud.

I would say it’s a legal scam. I purchased shares of the company NowRx. 1 week before the deadline to purchase and invest, I made at least like 10-12 attempts to withdraw and cancel my fund. On some attempts it showed it went through successfully but didn’t believe it. Almost everyday I tried to reach their customer service, but never got a live person until after the deadline expired. That’s when they told me that nothing they can do because I let the deadline expired to do any cancellation. Fast forward 8–10 months, no updates on the company I invested in, NowRx. This week I did a google search on the company, I found out the company already went down and under and in the process of selling off their rights to another company. I have yet to receive any emails from seedinvest about the sell off of NowRx and if the investors will get their money refunded back to them in full or partial.

Purchased shared in Knightscope via Seedinvest. Now those shares are ready to be listed and I'm on hours and hours of time trying to get them converted. It is a mess. Not worth the time. Won't invest again.

They will take their cut at the beginning of the process and disappear. Do not expect anything from the platform nor from the startups. There are no quarterly reports, no communication, no nothing.

This website is the closest to a legal scam.

Summary:
Slow and inaccurate customer service. Too much bureaucracy and buggy systems. Use another platform instead. There are much better ones out there.

Full Review:
I was a non-investor user of the platform for over 2 years. In 2020, I saw some interesting opportunities and decided to convert into an investor. It was all downhill from there.

I completed the investor profile but could not seem to be able to make an investment. I kept getting a "Your account is incomplete" error. However, there was no place to upload additional documents, no field that was highlighted indicating missing information and everything was appropriately filled out.

At this point, I contacted support to inquire how to proceed. A few days latter they replied informing me I should have received an email that would guide me to complete the process. I checked the email and all it did was redirect me to the page where the error first appeared. Thus, not useful.

I contacted support again. A few days latter they informed me that I needed to upload a document. Makes perfect sense. I would expect a financial institution to require a document to confirm my identity. However, there was no button to upload a document on the website!

I asked them how to proceed and they suggested I send to them over chat. Apparently there was a bug in their system preventing me from uploading the document there. That is where things started becoming very sketchy. I hesitantly attached a picture of my driver's license to the chat (an email sent via Intercom).

I then received another email saying I needed to fill out "a few more things". Again, I replied informing that all requested information had been provided: "All sections appear as complete for me even when expanded. What specifically is missing?".

A few emails latter and they informed me I had to send a selfie holding my ID. By now it had already been a few weeks since I started the verification process. Still wanting to invest, I hesitantly sent them this additional image over email. I had seen this selfie requirement on some Bitcoin trading platform and although I thought it was a bit excessive at least they were being thorough. However, it got worse.

About a week latter, I sent a new email requesting updates on the process. After all, for a company that taunts being a pioneer in the modern revolution in crowdfunding they are quite slow in their processes.

They replied informing me that despite me having provided them with: My address, SSN, name, birthdate, selfie, drivers license, and who knows what other pieces of information it was not enough! They now wanted me to send them a selfie holding my passport and some official document that had both my address and name on it!

Imagine how annoyed I was at receiving this email. As an experienced investor, I have over a dozen financial accounts across banks and investment platforms. Companies both much larger and more regulated than SeedInvest as well as smaller companies. And none had caused me this level of annoyance when registering.

I replied informing them that this was unacceptable. I would not keep sending them private documents over email. After all, if any of these documents get leaked I am the one that will have their identity stolen and have to live with it!

Since I would not keep risking getting my identity stolen I requested that they delete all my documents from Intercom and their emails. Note that Intercom (great company by the way) is very specific in informing its customers (in this case SeedInvest is their customer) that sensitive information (medical, etc) should not be kept in their servers. However, they denied my request (after a long period without answers) citing FINRA requirements. However, FINRA requires that information be kept. Not that it be kept unsafely in emails to which several service agents may have access in their home computers as they work from home due to COVID or in chat logs that can be very hard to control the access to.

In conclusion, after over a month trying to setup an investment profile I ended up without an investor account and with the fear that one of these documents may fall into the wrong hands and that I could have my identity stolen.

I suggest you save yourself a great amount of hassle and just register for StartEngine, Republic.co, Wefunder or one of the other crowd investment platforms out there. Their websites work and you can go through the entire registration, KYC and investment without hassle.

Useless customer service.

Wanted to invest in a company, sent numerous emails and screenshots advising that the built in questions didn't apply to me as I wasn't a US company.

Customer service agent's have no attention to detail, kept replying back asking me what I needed done - so not reading my emails.

After 3 followup messages, I recieved no response. What a waste of my time!