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
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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 asked for a status of specific K-1s…
I asked for a status of specific K-1s (2 of them) for an SPV I invested in. Even after escalation, no one looked up either investment to verfiy if there was a K-1, no one offered a place to look on the WEF website for this information. No one looked to see if these were sent. The only thing I got was "if you didn't get them in email, there aren't any". I responded that my inbound email is not a fool-proof way to verify that a K-1 was or was not produced. That is a lazy, unacceptable response.
1 March 2023
Reply from Wefunder, Inc.
Hi Jeff,
Thank you for getting in touch with us. We apologize that our service did not meet your expectations and we appreciate your feedback. Our team is committed to providing excellent customer service and we are constantly working to improve our processes.
Regarding your concern about K-1s, we understand how important tax documents are and we want to ensure that every customer receives them in a timely manner. This year, we made proactive efforts to provide information about K-1s to all our customers. Our team sent out email notifications in mid-February to inform individuals who would be receiving tax documents this year.
As you did not receive notifications, you are not receiving tax documents this year for your three investments.
Merc
Head of Investor Success
Wefunder, Inc.
Not financially or investment savvy
Not being financially or investment savvy, I found some of the language and instructions confusing.
28 February 2023
Reply from Wefunder, Inc.
Hi Leslie,
Thank you for your feedback. We appreciate your input and would like to hear more about which parts of the content you found confusing. This will help us improve our product and make it clearer, which in turn will benefit other investors. Please feel free to contact me at merc@wefunder.com to discuss this further.
Merc
Head of Investor Success
Wefunder, Inc.
Although the answer was not what I…
Although the answer was not what I wanted to hear, the reply came back very quickly.
28 February 2023
Reply from Wefunder, Inc.
Hi Joan,
Thank you very much for taking the time to review our services. We are thrilled to hear that you had a positive experience working with our team. Your feedback is extremely valuable to us as we strive to improve our services further.
We want to assure you that we are committed to providing our investors with the highest level of service and support. Should you require any assistance in the future, please do not hesitate to contact us. Our team is always here to help you and we look forward to continuing to serve you in any way we can.
Merc
Head of Investor Success
Wefunder, Inc.
Quick response and able to solve the…
Quick response and able to solve the issue immediately
28 February 2023
Reply from Wefunder, Inc.
Hi Sherry!
Thank you for taking the time to provide us with your valuable feedback. We are delighted to hear that our prompt assistance met your needs. As we strive to continuously improve our services, we would like to assure you that we remain committed to providing you with the highest level of support and satisfaction. In the event that you require any further assistance in the future, please do not hesitate to contact us. We are always here to help you in any way we can.
Merc
Head of Investor Success
Wefunder, Inc.
No update report after the raising the…
No update report after the raising the closed and investor do not know how the company progressing.
22 February 2023
Reply from Wefunder, Inc.
Hi there,
Thank you for reviewing us. If you need an update from a company, we are happy to help facilitate that for you. Simply send an email to support@wefunder.com with your request and we will assist you. We encourage all companies to provide an update every quarter, but at least twice a year is the minimum.
Merc
Head of Investor Success
Wefunder, Inc.
No protection from scammers
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. Richard and Wilson Tam of 10 Below, later Minus 10 Ice Cream. Defrauded investors out of more than $75,000. Nothing was ever done to hold them accountable aside from getting a rep who says they've "reached out" to them. It'been 4 years and nothing.
27 February 2023
Reply from Wefunder, Inc.
Hi Raymond,
I'm sorry that you felt my service to you yesterday was 1-star worthy. I am trying to be of help. We are doing our very best to look into this for you.
Merc
Head of Investor Success
Wefunder, Inc.
I have still yet to hear back from…
I have still yet to hear back from anyone on my question about wanting to get my money out.
21 February 2023
Reply from Wefunder, Inc.
Hi Crystal,
Thanks for reaching out. I can see that you reached out to us on February 21 at 11:57 AM, and I replied to you the same day at 2:27 PM. I am still awaiting a response to that email, but I'm happy to help. If you need to get a hold of me, please email me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi there!
Thanks for reviewing us! I'm glad you have had a great experience so far. Feel free to let us know if you need anything.
Merc
Head of Investor Success
Wefunder, Inc.
All my questions were answered…
All my questions were answered promptly. They did vital research on my purchases and provided me the information I asked for. They then followed up to make sure I was satisfied.
23 February 2023
Reply from Wefunder, Inc.
Hi Jeff,
Thanks for reviewing us! I'm glad you had a great experience on our platform. Please let us know if you need anything else!
Merc
Head of Investor Success
Wefunder, Inc.
A waste of time.
A waste of time.
Simple questions not answered and a superior attitude expressed by your employees .
If I could I would give you a zero star!
23 February 2023
Reply from Wefunder, Inc.
Hi Wayne,
I'm sorry you had an experience that didn't meet your expectations as a founder. I suggest looking through our FAQ page (https://help.wefunder.com/#/founder/) to answer your questions. Due to the volume of companies that onboard onto our platform, we only have the capacity to help founders once they have raised $25k and are working towards the first $50k goal. Once you hit the mark, you are assigned an account manager who helps you.
You can launch your page and begin outreach immediately without figuring out all your legal set up as a feature of Testing the Waters https://help.wefunder.com/founder-faq/testing-the-waters-faqs?from_search=71102731). Through Testing the Waters, you can work towards our 50k minimum while concurrently figuring out your legal disclosures and financials without any fees from us. Once you approach 50k, we will help with filing, and only then do we charge any fees.
A typical Wefunder raise breakdown is about 67% from the founder/team's personal network, and the other ~33% comes from our investment community. And 100% of the first 50k comes from your network. Therefore, your network (close family and friends, professional contacts, connections from socials, etc.) is critical for a successful raise.
Again, I'm sorry that we have disappointed you, but hopefully, the resources I have provided you will be of help either on our platform or whatever platform you choose to complete your raise.
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi there!
Thanks for reviewing us! Glad you have had a great experience so far!
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi Russell!
Thanks for reaching out and reviewing us. Glad you have had a great experience so far!
Merc
Head of Investor Success
Wefunder, Inc.
I’m not sure what my $200 got me?
22 February 2023
Reply from Wefunder, Inc.
Hi Leon,
I'm sorry that you felt your experience so far is only two stars. Please consider rating us higher in the future. Your investment is using the SPV (special purpose vehicle) structure, which means you are buying shares in the SPV, and the SPV is then buying shares in the company. SPVs are common in the investing world because they allow the company to represent all their investors in one line on their cap table. That’s important for their record keeping and their ability to get financing from institutional investors.
Because you bought a piece of the SPV, which then invested in the company, you won’t see a stock certificate for your shares. Instead, you can view the agreement you signed with the SPV on your Portfolio page, which you can access by visiting wefunder.com/portfolio.
If you need anything else, please don't hesitate to contact me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
I asked an honest question
I asked an honest question, and got a prompt, nicely worded answer. It was HOW the question was answered that impressed me. Clearly worded, to the point, and very professional.
21 February 2023
Reply from Wefunder, Inc.
Hi Joseph!
Thanks for reviewing us and for that very kind statement. We are always trying our best to help investors and get them taken care of whenever they need it.
Merc
Head of Investor Success
Wefunder, Inc.
No paid invoice or receipt for my…
No paid invoice or receipt for my investment amount. Where did it go???
Addendum: the issue was resolved.
15 February 2023
Reply from Wefunder, Inc.
Hi Kwei,
Thanks for reviewing us - I'm sorry you felt your experience has been one-star worthy. You wrote to me today, and it took me under an hour to find your account as you gave me the wrong email you used to log in. I just responded to you and let you know where you can find your money and account now. I hope you will reconsider your rating for our platform. If you need any more help, please write me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi Cathy!
Thanks for reviewing us. We are glad that you have had a great experience so far. Let us know if you need anything!
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi there!
Thanks for reviewing us. We are glad you have had a great experience. Let us know if you need anything.
Merc
Head of Investor Success
Wefunder, Inc.
quick and comprehensive support
14 February 2023
Reply from Wefunder, Inc.
Hi Levan,
Thanks for reviewing us! Glad you have had a great experience so far. Let us know if you need anything!
Merc
Head of Investor Success
Wefunder, Inc.
I asked a question and got back an…
I asked a question and got back an automayed response that didnt come close to answering the quedtipn. You askedj
18 February 2023
Reply from Wefunder, Inc.
Hi Jeff,
I'm sorry that you have had a one-star experience with Wefunder. Our founder team responded and will most likely get back to you this week. I'll provide your feedback to the founder team, so they know.
Merc
Head of Investor Success
Wefunder, Inc.
Good communication
Got a clear, quick answer to a question I asked over the weekend. I really wasn't expecting an answer until Monday.
18 February 2023
Reply from Wefunder, Inc.
Hi Austin,
Thanks for reviewing us! Glad you have had a great experience so far. Happy to help on the weekend when I find the time. :) Let us know if you need anything!
Merc
Head of Investor Success
Wefunder, Inc.
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