In general, this platform works for crowdfunding, but the minimum investment in comparison is higher than at other platforms, and the deposit methods aren't exactly without fees, especially for in... See more
While we don't verify specific claims because reviewers' opinions are their own, we may label reviews as "Verified" when we can confirm a business interaction took place. Read more
To protect platform integrity, every review on our platform—verified or not—is screened by our 24/7 automated software. This technology is designed to identify and remove content that breaches our guidelines, including reviews that are not based on a genuine experience. We recognise we may not catch everything, and you can flag anything you think we may have missed. Read more
See what reviewers are saying
There has been two separate incidence of moneys not able to be pulled form the bank account from the Wefunder platform. Yes, both times I've been helped diligently to fix the issue but took a long ti... See more
Company replied
Should do much more do support investors with startup that ghost their investors after raising the funds. We make investments at our own risk, but we also expect to be informed about the progress made... See more
Company replied
There is no protection from unscrupulous businesses. One company took our money and then refused to respond to numerous investor requests for information. The situation has gone on for years. Richa... See more
Company replied
Company details
- Investment service
- Alternative Financial Services
- Financial Institution
- Investment company
- Non-bank financial service
About Wefunder, Inc.
Written by the company
Wefunder is the largest stock market for retail investors to invest in 'private' startups.
We created this industry in 2012. Then we lobbied 9 years for regulatory reform. We petitioned Congress & shaped law. Invited to watch Obama sign the JOBS Act.
We’re a Public Benefit Corporation with a goal to fund 20,000 more founders by 2029. In all 50 states. From all backgrounds. From coffee shops to supersonic planes. Backed by the people who believe in them.
We help anyone invest in what they believe in – to vote with their dollars on what our society should fund. Together, we help more scrappy, hungry risk-takers take their shot to move our world in a better direction.
Our vision is to be the pre-NASDAQ stock market. We want to make it normal for every high-growth startup to raise from their customers and fans in a "Community Round." Startups will be able to raise up to $150M in a primary offering from the public... but legally, they remain private companies. Secondary trades happen once every 9-18 months in a "long term stock market" that lines up with traditional VC raises. Companies get the upside of fans investing and liquidity, but without public company restrictions or quarterly earnings pressure.
Contact info
1885 Mission Street, 94103, San Francisco, United States
- 628-266-4770
- support@wefunder.com
- wefunder.com
1.9
Poor
375 reviews
Hasn’t replied to negative reviews
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
I won't be using WeFunder again.
The site is a bit confusing, it's hard to find terms of investment, the company I invested in went under before the funding round closed taking $600k of investment with it on and now my K1 tax documents are late.
13 March 2024
Unprompted review
Reply from Wefunder, Inc.
Hi Alec,
Apologies for my late reply. I was out due to a family death. Please reach out to us at support@wefunder.com, and we will be more than happy to help.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Customer Support line
While I had an overall positive experience with Wefunder, I had a very non optimum dealing from customer support just recently. This was later address and I was happy with their final answer from customer support.
Recently one of the company they featured and fundraised for (Here.co), ceased operation and is shutting down.
I inquired on the Wefunder customer support line. While I fully understand that it is part of the agreement that I might lose up to the whole value of the investment, their first answer was quite short and uncaring, they pcorrected this in their second answer.
I would have thought that since they had raised a consistent amount of money for Here.co on their fundraising rounds, that they might be able to give SOME help and assistance to investors like me, to at least give some directions on precise contact point in Here.co who would be dealing with this matter.
Again I understand the terms of the investment and the risks but I believe that Wefunder customer support could have been more helpful in this situation. They did explain and were more helpful in their second answer.
7 February 2024
Unprompted review
Reply from Wefunder, Inc.
Hi Tommaso,
Thanks for reaching out. I have reviewed your review. I'm sorry that your overall positive experience on our platform resulted in a one-star review. I do agree that the team's response could have been better here, and I will coach the team in how we respond to our customers - as we do care. I am answering you via email to address your concerns, but hope you will re-consider your one-star rating in the future if we are able to earn back your trust.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
We under doesn’t advocate for you as an investor. Beware!!
Wefunder the is not a company I would invest in and is not an advocate for the investor. Caribou was a great example. They did not communicate with investors. Wefunder would not intervene at anytime. The investors were kept in the dark. They sold to a major corporation Mattel without the investors knowledge. Changed stock around without the investors approval. and my $1000investment got me $53.00. It was a joke.
7 December 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Ron,
I apologize for your dissatisfaction with Wefunder's assistance in your investment in Caribou. It is important to note that Wefunder shared all available information that we had access to. However, the details of the deal made during the acquisition are subject to a non-disclosure agreement (NDA). Therefore, Wefunder does not have access to that specific information.
If you need anything, I'm here to listen or be of assistance the best I can be. You can contact me at merc@wefunder.com.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
I can not say this is a scam but I…
I can not say this is a scam but I strongly suggest you stay away from investing companies raising on this platform, this is the last place they go to because:
they do not do any meaningful due diligence. I have invested in many companies on this platform and 99% of my investments are either already out of business or in a very bad shape , I mean a 99% bad track record.
As an example a couple of the companies that tried raising money in my area and every venture or angel fund rejected them because their business model just did not make any sense end up raising lots of money on this platform and they ALL are out of business.
2 December 2023
Reply from Wefunder, Inc.
Hi Amir,
I apologize for your dissatisfaction with Wefunder. Please note that Wefunder does not have access to the internal operations of any business and is not part of its board or leadership team. Instead, we conduct basic background checks on founders and review all Community Round materials to ensure they comply with all legal requirements and Wefunder policies. All company information, including filed documents such as the Form C, is available to investors for each fundraising round.
Also, 4 out of 5 of the startups that you invested in have failed leaving you at 80% having failed. The statistical rate of failures is 90% (https://explodingtopics.com/blog/startup-failure-stats). However, out of all the companies that have successfully raised on our platform as of this post, only 11.6% have failed thus far.
Investing in the private market carries higher risks than investing in the public market. Therefore, investors should exercise extra caution and conduct thorough due diligence before making any investment decisions. One way to do this is to review all the available materials provided by the company, including the Form C. It is ultimately up to investors to evaluate the quality of each investment opportunity and make informed decisions based on their own research.
If you need anything, I'm here to listen or be of assistance the best I can be. You can contact me at merc@wefunder.com.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Biggest regret as a founder
Biggest regret as a founder. I wasted thousands of dollars and dozens of hours trying to set up and maintain our campaign, navigating surprise fees and changing requirements, with no help from an incompetent and unresponsive WeFunder team. The management of investor money left myself and the investors confused and nervous. I have dozens of emails on record to show the utter lack of support and the mismanagement of our campaign by the WeFunder team. They were so bad that they even had to drop the percentage of total funds raised that they would keep from 7.5% to 5%, but in the end, after many headaches and what could have led to legal action on my part, I decided to cut my losses and shut down our campaign. My hope is that other founders are aware of the incompetence and costs associated with WeFunder and can avoid them.
17 March 2023
Reply from Wefunder, Inc.
Hi Trish,
I'm sorry to hear about your negative experience with Wefunder. We take your feedback seriously and apologize for any frustration or inconvenience you encountered during your campaign. We understand that setting up and maintaining a crowdfunding campaign can be challenging, and we strive to provide the best support possible to our founders.
Since your experience, we have significantly improved our processes and taken steps to address the issues you mentioned. We have enhanced our support team to ensure better responsiveness and have implemented clearer communication channels.
We appreciate your feedback and will continue to make improvements based on the experiences of our founders. We hope that you consider giving Wefunder another chance and benefit from the enhancements we have made in the future.
If you have any further concerns or questions, please don't hesitate to contact me at merc@wefunder.com.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Flaws
Tried making investment several times but kept getting error message in final step despite exact personal information as well as credit card info. Tried emailing support but email would not send due to invalid email address.
13 November 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Leo,
Thanks for reaching out. I'm sorry to hear that you are having trouble. Please reach out to support@wefunder.com and we would be happy to help you.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Absolutely no service at all once they…
Absolutely no service at all once they get your money.
They set up a company to funnel the money to the invested company. This means you are not in the Cap table, and you are nothing for the company you are investing in. If you invest in a safe or Convertible note, once they convert, they don't even communicate or let you know basic things about your investment, like the valuation it was converted to and the amount of shares you supposedly own. Customer support keeps repeating that they "encourage" the companies to give updates, but besides not having updates you will not know anything about what you own.
On top of that, if you read the fine print, there is a supposed lead investor that will take a big chunk of the earnings if they ever materialize, doing absolutely NOTHING.
Positive reviews are mostly from companies they got investment, some of which are scams and they run with it
UPDATE:
The SVP should give us an update of what's going on with our investment, what has been converted, what not, at what valuation. This is just basic. The SVP ows I have no Idea what on my behalf (and literally since some companies have converted a safe and everything I can see in my portfolio is the safe, one has even had a merger and I have no Idea what valuation and how many shares of the new company SVP owns in my behalf)!
When I made the investment was stated that the lead investor would take 10% of the profit in case of an exit, can't find it anymore but I'm sure whas there. I have no idea of what wefunder or him is doing to protect my investment.
31 August 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Andrea,
Thank you for reaching out. I'm sorry you are unhappy with your experience with Wefunder. There are a few things I wanted to address after reviewing your case.
Your investment is structured as an SPV (special purpose vehicle), a standard investment vehicle in the financial world. It is designed to simplify and streamline the representation of multiple investors in a single entity on the company's cap table. This can be helpful for record-keeping purposes and for the company to attract future investment from institutional investors.
Since you are investing in the SPV, which will then invest in the company, you will not receive a stock certificate for your shares. However, you can access the agreement you signed with the SPV on your Portfolio page, which is located at https://www.wefunder.com/portfolio. On this page, you can view all the details of your investment, including the terms of the agreement and the amount invested.
You are correct; we do encourage companies to update their investors. It's important to note that Wefunder is a platform that allows early-stage private companies to gain funds from their community. We provide the technology that makes this possible and offer everyday investors the opportunity to be early investors in companies they are excited about. Ultimately, we cannot control what a company decides to do after its Community Round is closed.
Your claim of the lead investor getting a big chunk of the earnings is inaccurate. They receive the same deal that any other investor receives by investing in that company. This incentivizes the lead investor to make decisions that benefit all investors - including themselves.
Lastly, your claim about positive reviews on the site is also inaccurate, as we have many happy investors. Out of the 338 reviews we currently have on this site, this represents less than half of a percent of the investments Wefunder has had on our platform. We are very proud of our work and are always happy to help.
You can always reach me at merc@wefunder.com.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Reply from Wefunder, Inc.
Hi Paul,
You reached out to us on February 28, 2023 and we responded to you the same day, but never heard back. We don't have a Wefunder account that is connected to the email address that you are using. If you can provide us with an email that you used on our platform, we can look up your account and help you. Feel free to reach out to me at merc@wefunder.com.
Your question was, "How do I get my money back or cash in the investment I made?" The general answer here is that returns on Wefunder investments tend to be longer-term (the average on a return, if you receive one, is around seven years), particularly with a convertible note or SAFE as you wait until the company goes public or is acquired. It may be quite some time until you see a return.
Looking to sell? While there is no public market for your investment, you may sell your stake to another investor if they are a family member or an accredited investor during the first year of your investment. After the first year, you may sell your stake to any interested buyer.
In either case, you'll need to find a buyer first. Once you have a buyer, email Wefunder* at support@wefunder.com to set up the legal transfer documents. During this process, you'll also need to arrange the transfer of funds between you and the buyer, as Wefunder does not assist with this step.
* If your investment is directly managed by the company you invested in (meaning not through an SPV or Custodian), you must contact that company to facilitate the transfer. Wefunder would not manage the investment in this case.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
5 star service to me
5 star service to me. Every time I inquire on a problem, support comes through with clear and precise answers
29 December 2022
Reply from Wefunder, Inc.
Hi Alfred,
Thanks for reaching out. We are glad you have had a great experience!
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Speaking with representative
17 March 2023
Reply from Wefunder, Inc.
Hi Reginald,
Thanks for reviewing us - we are glad you had a great experience.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
I raised an investment in betterhalf.ai…
I have received my money back, it was a fault from bank.
Thanks and sorry for bothering you.
3 June 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Janak,
Thanks for reaching out. I see you said we have yet to reply, but as you know, we were talking this morning. As you already know, the pre-authorizations will drop off, and I recommended how to handle the one remaining on your account. As I stated before, we don't have charges on our side to refund you. Please let us know what your bank says to my suggestion because I have been trying to be helpful.
Update: Janak, I'm glad you found out your bank was holding the money. We would appreciate an update on this review and reconsideration of your rating of us.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
This is getting ridiculous. [SOLVED]
Oh, so I used the wrong sender to contact you? This is just a lie. I sent 6 e-mails with the right address, the one I use on my Wefunder account. I am still waiting for an answer. This is getting ridiculous. How hard can it be to refund someone?
EDIT: My issue has been solved so I change my review to 2 stars because of the response time that still needs major improvements.
3 June 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Walter,
As you know, we have already been in talks and I supplied you with the tracking number of your refund for your bank to look into. If you need further assistance, you know that you can always contact me and I'm happy to help.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
They charge 7,5% of everything you…
They charge 7,5% of everything you raise and they don't bring any customers. It's a waste of time and a waste of money. SCAM!
They only promote companies at insane valuations which will guarantee all their investors lose money but at least they get 7,5% of the money they steal.
25 May 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Mathias,
Thank you for contacting us. We apologize for any frustration you may be experiencing regarding our due diligence check and not allowing your company to raise. It is true that we charge a 7.5% fee, as is standard practice for companies seeking to raise funds on our platform. However, we must clarify that your accusations are unfounded. Once your company has raised at least $50,000, we do provide access to our investor database. Furthermore, we have accommodated many companies at varying valuation levels in the past.
We wish you the best,
Mark “Merc” Mercer
Head of Investor Success
Wefunder
Does anyone actually work at customer "support?"
About to set up $5m campaign, finally went with Wefunder after days of research and got board approval to go ahead Unfortunately it has proved impossible to get an answer from customer "support" on, well, anything apart from a fairly vague answer to my first question. That only took 2 days, so not bad by today's standards, but all questions asked since 2nd May (now 18th) have thus far gone unanswered, except for the standard "we'll get abck to you in 24 hours" autoresponse. Just a heads up, I'll give you until the end of the week after which we'll take the project elsewhere ... cannot be waiting 16 days for answers on questions. (ps yes, read the extensive FAQ - actually quite good, but these questions fall between the cracks and, yes, routinely check junk email)
18 May 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Jasonde,
Thank you for contacting us. We apologize for any delay you experienced. Be sure to email launch@wefunder.com as that team helps our founders. They typically respond within 1-3 business days.
Best,
Mark “Merc” Mercer
Head of Investor Success
Wefunder
They Ignore Investors & Shareholders
Imagine, I am both an XX,XXX shareholder and have invested in over a dozen Wefunder companies and cannot get a call back on an improper accessing of my account and withdrawal of funds. It's 48 hours since I emailed them concerning this problem AND have been disconnected twice after waiting for someone to answer my phone call. Not my first customer service problem with Wefunder but it will be my last. Anyone want to buy my shares???
Below the Head of Investor Success, "Merc' claims I never sent an email. Well below you will find their email response to me, days late, and my original thread to them. I was required to remove full email addresses to leave this review and added some "XXX" to conceal actual numbers. Looks like the investor success team is as incompetent as their customer service.
"From: Sofie Zorich support@wefunder
Sent: Monday, April 24, 2023 6:20 PM
To: Ted Oshman TedO@OshmanLaw
Subject: Re: Unauthorized Withdrawal
Hi Ted,
Thanks for reaching out. Can you let me know how much the charge was for and the date it was made?
Please let me know if I can help with anything else!
Sofie
Team Member, Investor Success, Operations
Wefunder
"Home of the Community Round"
How helpful was my reply? Customer satisfaction survey rating input
Sent from Front
On April 22, 2023 at 4:01 PM PDT tedo@oshmanlaw wrote:
The following ACH Debit was made from my bank account by Wefunder without my consent. I have
no idea what it is for. Please contact me immediately on my cell phone, 917-566-XXXX at any time.
ACH DEBIT
WEFUNDER INC PURCHASE 10034XXXX 002 100000000000000009000XXX THEODORE OSHMAN RECIPIENT
Very truly yours,
23 April 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Theodore,
Thank you for reaching out. You provided me with two email addresses to search, but neither of them had any emails in our inbox. The email you mentioned above was not one of the two emails that were shared with me, so I couldn't search for it. Additionally, you emailed us on April 22, 2023, which was a Saturday and outside of our office hours. You received an auto-response that stated this as well:
The Investor Success team will answer your email very soon - usually within one business day. Our team is available 10:00am to 6:00pm PST Monday through Friday. Please expect a response during normal business hours.
We responded to you on Monday, which is within one business day. I can see that Sofie has been working with you to resolve any issues. You can continue your conversation there and we will be happy to take care of you.
Mark "Merc" Mercer
Head of Investor Success
Wefunder
Incredibly east!
23 March 2023
Reply from Wefunder, Inc.
Hi there!
Thanks for reviewing us. We are glad you had a great experience!
Merc
Head of Investor Success
Wefunder, Inc.
SHOCKING!
I'm shocked you can't put a hold on my proposed investment of 5K for the Human Death Project (Recompose) until after April 5th when I return to the United States so that I can send in a check. I'm very disapointed in your inflexibility in this regard. I'm only trying to support an amazing woman with an amazing idea! Damn!
23 March 2023
Reply from Wefunder, Inc.
Hi Reily,
Thanks for reviewing us. I'm sorry that you feel our service is one-star worthy, but there are legal parameters that we must work within. We cannot hold a person's spot in front of other investors that have completed their applications, along with payment, fully. We accept investments on a first-come, first-served basis.
Merc
Head of Investor Success
Wefunder, Inc.
Excellent customer service!
22 March 2023
Reply from Wefunder, Inc.
Hi Josh!
Thanks for reviewing us. Glad you had a great response!
Merc
Head of Investor Success
Wefunder, Inc.
NOT TO GOOD WITH LISTENING TO PEOPLE…
NOT TO GOOD WITH LISTENING TO PEOPLE AND STOP FAKING THE FUNK!!!
20 March 2023
Reply from Wefunder, Inc.
Hi Stanley,
Thanks for reviewing us. We have responded to your email and if you need anything else from us, let us know.
Merc
Head of Investor Success
Wefunder, Inc.
Slow to verify my identity
Slow to verify my identity. Also, confusing auto reply messages about the status of my investment.
Your customer service team was responsive and helpful. Unclear if they are people or bots, but at least that system is working.
This is an issue, because it casts doubts over whether or not my investment will go through or be cancelled. I would be very disappointed if the investment was cancelled because of bugs in your platform.
And yes, I am a first-time user. Wefunder is not making a great first impression.
24 March 2023
Reply from Wefunder, Inc.
Hi Mike,
Thanks for reviewing us. I have passed your feedback along to our product team. Also, we are humans. :) If you need anything else, please reach out to me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, inc.
The Trustpilot Experience
Anyone can write a Trustpilot review. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.
Learn more about other kinds of reviews.
We use dedicated people and clever technology to safeguard our platform. Find out how we combat fake reviews.
Learn about Trustpilot’s review process.
Here are 8 tips for writing great reviews.
Verification can help ensure real people are writing the reviews you read on Trustpilot.
Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.