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.
It wasn't great
It wasn't great, Wefunder needs to ensure funded companies provide regular updates, at least every other month on progress, revenue, pipeline, etc. If the companies do not do this then Wefunder needs to.
30 January 2023
Reply from Wefunder, Inc.
Hi Robert,
Thanks for reviewing us. This is actually an initiative that we have already started working on at the end of 2022. We are making sure that all companies have provided an update at least within the past 6 months, but recommend companies to provide them quarterly.
Merc
Head of Investor Success
Wefunder, Inc.
Confusing Credit Card Charges
I had a problem with my credit card charges. I emailed Wefunder (there is no phone number) and reached Sofia. She passed the issue off to Merc (Head of Investor Success). It was really hard to get Merc to engage beyond a basic level. Merc would not pick up the phone to follow-up, advance the investigation, etc. He would only communicate via email and it took almost 24 hours to answer each email. When Merc did respond, he would send me the same response. After about a week of back-and-forth emails and trying to get Merc to advance the investigation, I ended up having to dispute the issue with my credit card company. When Merc noticed that I disputed the charges, he then became interested (finally I got a different response). His approach to handling this issue was just all wrong. In my experience with WeFunder, this team has poor communication, an inability to problem solve quickly, and meager customer service skills. My issue could/should have been resolved in 1 day with a proper investigation, but instead I had to create an investigation with my credit card company. My advice, always check your credit card or banking activity when dealing with WeFunder. Give them 2 days to properly investigate any billing issues. If they send you the same response 2x, escalate quickly with your credit card company. The biggest mistake I made was giving them a week to resolve the issue. It was a complete waste of time. WeFunder only wanted to resolve the issue when my credit card company got involved. By then, I was fed up!
Update: Merc from WeFunder responded to my review-no problem. In his response, he decided to disclose the name of one of the investments I made to the public. I have no idea why a company would do that-disclose investor information for NO REASON AT ALL. For me this is just another example of why WeFunder has a lot of work to do - starting in their customer service department. His response here was faster and provided much more details than his emails. I should have started here first. Merc, DO BETTER!
Update: My credit card company was notified and was also confused by the charges. My credit card asked Wefunder (or its representatives) to explain the charges. The explanation by Wefunder were unsatisfactory. The charges were reversed in my favor. This issue has now been resolved.
28 January 2023
Reply from Wefunder, Inc.
Hi Nic,
Thanks for reviewing us. I want to be sure that we clearly state what happened here, however.
You wrote me an email at 7:52AM PST on January 31, 2023 and I replied at 1:25PM PST on the same day. You then sent a response at 7:31AM PST on February 1, 2023 and I responded at 1:14PM PST on February 2, 2023 because I was not working on February 1, 2023. I apologize for the delay in response there, but we work hard to make sure that responses are given within one business day, if not sooner.
I asked you for a screenshot of the charge you were disputing on your bank statement and then explained to you that you were never charged for the charge you were questioning as the charge was not on there. You then told me you didn't believe anything I say (even though I was just re-stating what was on your statement that you provided) and that you would not talk to me any further or read anything else that I had to say and that I could sort it out with your bank.
You are saying that I should have noticed this earlier on, but in the first thing you sent me, you pointed to the charge in Kettle, which we were able to show you was charged and refunded. For some reason, however, your bank didn't show the charge on your account, which also didn't show the refund then. At the end of the day, there was no error except that your bank wasn't showing the charge on your account - and as a result - no refund for it either as it was never charged to your account.
We showed you the charge and refund, but my guess is because it happened within the same day, your bank didn't post it as it equaled out.
I would also like to comment that you involving your credit card company has nothing to do with me wanting to solve your issue for you. I am happy to work with a bank and if we are wrong, we will get it corrected. We still have yet to hear from your bank - so that clearly was not our motivating factor here.
I take all of your feedback seriously and will do my best to be better in the future. I believe that I care deeply about our investors and work hard to make sure we do right by them.
Merc
Head of Investor Success
Wefunder, Inc.
Nice n easy process
2 February 2023
Reply from Wefunder, Inc.
Hi Darren!
Thanks for reviewing us. Glad you had an easy time getting through the process. Please let us know how we can be at a five-star level!
Merc
Head of Investor Success
Wefunder, Inc.
I needed to do something simple
I needed to do something simple, change my email address. It was simple and easy and not complicated...and because of it, I want to find out more possibilities within Wefunder.
3 February 2023
Reply from Wefunder, Inc.
Hi there!
Thanks for reviewing us. We are glad you've had a great experience. Let us know if we can help you in the future.
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi Jennifer!
Thanks for reviewing us! We are glad that you are having a great experience so far. Please let us know if you need anything.
Merc
Head of Investor Success
Wefunder, Inc.
Solicitation regarding other companies…
Solicitation regarding other companies by your company after I had chosen to support a company was unwanted and disliked.
1 February 2023
Reply from Wefunder, Inc.
Hi Ann,
Thanks for reaching out. You received our weekly newsletter that features new companies, companies closing, and webinars available to investors. You reached out about not wanting the newsletter and I unsubscribed you from that. I'm sorry that you felt that experience was two-star worthy. If you need anything else, you can contact me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
Lots of flash, little substance
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 by companies/startups. My company here - Fancy.com - hasn't made - nor informed about - any progress from the 460K they got via Wefunder.
2 February 2023
Reply from Wefunder, Inc.
Hi Sergio,
Thanks for reaching out. Wefunder has tried to make contact with this company. Unfortunately, we have not been able to successfully reach the company and have determined by the evidence before us that this company may no longer be operational. We will be updating our records to mark this company as failed. As the company has not provided us with a certificate of dissolution, you should consult with your CPA or tax professional on how to report your investment as failed.
Please understand that Wefunder is a platform that is used by companies to conduct their offerings, which means we provide the technology to allow early stage private companies to raise funds from the crowd and we provide everyday investors the opportunity to be early investors in companies they are excited about.
These investments are high-risk, longer term, and not immediately liquidating as clearly outlined throughout our site. We know this type of investment is not for everyone. We do not curate or provide investment recommendations or advice. The equity crowdfunding industry is highly regulated. In order to raise on the platform, companies must apply and file with the SEC before closing on any investor funds. All their filing information is linked to the campaign page for investors to view and make an independent decision if a given opportunity is right for them.
Wefunder doesn't get involved much further than this because we wouldn't have legal standing to bring a claim against the company as we are not an investor.
You can contact me if you need further discussion at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
The adjustment of one's investment…
The adjustment of one's investment position was not doable and unclear. Having the capacity to conduct separate transactions would have been more straightforward.
Addendum to reply from Wefunder -
The service provided to adjust/edit my initial investment position was fine and satisfactory. That was not my issue. The issue is that it should not have had to go through personal intervention. The platform should be clear enough without the need for intervention. Not to compare companies, but Netcapital permits separate transactions for transparency of investments and associated fees.
30 January 2023
Reply from Wefunder, Inc.
Hi Al,
Thanks for reviewing us. I'm sorry you felt my service was two-stars worthy. You can actually edit your investment on your end, I just was trying to be helpful and did it for you. If you need my assistance still or want to provide more feedback, you can reach me at merc@wefunder.com.
UPDATE: I have passed along your feedback to our product team. However, for now, if you want to edit an investment on your end without talking to us, you can. You just go to your portfolio and click edit investment.
Merc
Head of Investor Success
Wefunder, Inc.
User Friendly Platform
It's all pretty straightforward on Wefunder. If something isn't working, a message is sent and a quick response resolving the issue appears. It's great to know when one is communicating with a bot or a human, the distinction is given and I appreciate that also.
31 January 2023
Reply from Wefunder, Inc.
Hi Ruby!
Thanks for reviewing us. I'm glad you have had a great experience so far!
Merc
Head of Investor Success
Wefunder, Inc.
Unnecessary Complications
I invest through multiple startup portals…Wefunder complicates the process of investing by not allowing “editing” of pending investments, rather than cancellation. Additionally, an investor should be able to add more to an investment by selecting an alternate funding source (I have both my checking account and credit cards on my account, and would have added more to an investment, but for this.)
27 January 2023
Reply from Wefunder, Inc.
Hi Tori!
Thanks for reaching out. I have passed along your feedback to our product team. We are glad you are here and hope that we can continue to make your experience easier and more user friendly. You can always contact me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
Do NOT invest with Wefunder!!
Do NOT invest with Wefunder. You will NEVER see your money again and the "support" team couldn't give a hoot. So glad I didn't put more money into the "investment" because I can see now it was basically a non-refundable donation. 3 and a half years and the notes have supposedly converted, but yet to see any interest payments as promised, and apparently there is no way I can sell or liquidate my investment, which basically means it's worthless. DO NOT waste your money here!
1 February 2023
Unprompted review
Reply from Wefunder, Inc.
Hi Shannan,
I'm Merc and I am the Head of Investor Success here at Wefunder. Sofia messaged me to let me know you had concerns about your investment in MisterB&B.
First, I'd like to clear up some confusion. Your investment with MisterB&B converted on February 15, 2022. This information was sent out by MisterB&B last year. I have included the specifics of your investment and it's conversion in your email as it has information that is for you privately.
I read your message on TrustPilot and the message you posted on the MisterB&B raise page. Although you might feel that you should have been paid out the interest, that isn't how the process works necessarily. I can't provide investment advice to you legally, but in general, a convertible note can be beneficial because it gives the you - the investor - the potential to receive more than just the interest payments and the original capital. It is actually the spirit of convertible notes to convert - not just get back what you invested and a little bit of interest. The notes are designed to convert into equity of a company at a later date, usually when the company achieves a certain milestone such as a financing event or IPO.
Depending on the terms of the note, the investor may have their note convert into equity (which is what happened here) allowing you to participate in the upside of the business. As the value of a company grows, the value of those shares that you have now also grows - making it possible for you to make more money than you would have gotten with just a repayment of your investment with interest.
You also claimed that Wefunder refused to look into the situation further, yet Sofia replied and told that she would look into this and would get back to you with more information. Can you explain how she made you believe that she wasn't willing to help further?
I can completely sympathize with wanting to better understand how your investment works no matter how much you invested, why the lead investor (who also has an interest for the investments to do well as it will benefit them since they have a large piece in the game) would make the decisions they do, and why it takes so long for a return to happen. The average time line on getting an ROI (IF it happens) is about 3-7 years. This is the private market - much different than the public market. As your convertible note has already converted, you are already on your way to bigger possibilities with your investment if things work in your favor.
Investing in startups is very risky. We encourage investors to only invest what you can afford to lose; do not invest so much that it would impact your lifestyle or retirement plans. Every investment listed on Wefunder is much riskier than a public company listed on the stock market and it is entirely possible that you will lose every dollar you invest on Wefunder.
I'm happy to help you going forward and help answer your questions and concerns. You can email me at merc@wefunder.com.
Best,
Merc
Head of Investor Success
Wefunder, Inc.
My recent inquiry by email…
My recent inquiry by email was answered in a timely manner and resolved.
Although my overall experience in comparison to other platforms I have been using is lacking, namely in the lack of ongoing updates to the companies I am invested in.
I would hope for a improvement in this regard.
30 January 2023
Reply from Wefunder, Inc.
Hi Kevin!
Thanks for reviewing us. I appreciate your feedback and can tell you that we are already working on having this improve on our platform this year. I'm personally working on this project and know this will be a big win for our investors. If you need anything, please feel free to reach out to me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
Prompt response
1 February 2023
Reply from Wefunder, Inc.
Hi there!
Thanks for the review - glad you are having a great experience so far!
Merc
Head of Investor Success
Wefunder, Inc.
unfortunately
unfortunately, had to reverse a previous investment decision. Mark helped greatly in coordinating return of my funds. Excellent service!!
1 February 2023
Reply from Wefunder, Inc.
Hi Rick,
Glad we could get you taken care of! We are here anytime you need us.
Merc
Head of Investor Success
Wefunder, Inc.
More than 3 years and 0 profit?
More than 3 years and 0 profit?! Well not looking too good to me. Sorry.
31 January 2023
Reply from Wefunder, Inc.
Hi there,
Thanks for reviewing us. Returns on Wefunder investments tend to be longer-term, particularly with a convertible note or SAFE as you are waiting until the company goes public or is acquired. It may be quite some time until you see a return. Investing in startups is very risky. We encourage investors to only invest what you can afford to lose; do not invest so much that it would impact your lifestyle or retirement plans. Every investment listed on Wefunder is much riskier than a public company listed on the stock market and it is entirely possible that you will lose every dollar you invest on Wefunder. If you ever need assistance, I'm happy to help at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
I love doing business with Wefunder and…
I love doing business with Wefunder and helping good ideas reach their potential. I do wish we could get to one fee/transaction instead of company investment and include beneficiaries.
31 January 2023
Reply from Wefunder, Inc.
Hi Brad!
Thanks for reviewing us. Glad you are having a great experience so far. I have passed along your feedback to our product team as we are always looking to improve our product.
Merc
Head of Investor Success
Wefunder, Inc.
Reply from Wefunder, Inc.
Hi Olamiju!
Thanks for reviewing us! We are glad you are having a great experience so far. Let us know how we can get to five stars - we love feedback.
Merc
Head of Investor Success
Wefunder, Inc.
You’ve been featuring good startups.
29 January 2023
Reply from Wefunder, Inc.
Hi Wilfrid!
Thanks for reviewing us - we are glad you are having a great experience!
Merc
Head of Investor Success
Wefunder, Inc.
Great Customer Service Experience
The customer service was great. I had invested into a company, but for some reason it did not link to my account. So I had two portfolios, I contacted Wefunder to get that corrected. It was corrected, but then it was not showing up in the app. So I contacted Wefunder again and a ticket had to be sent. It took no real time to have my issue resolved. I’m very appreciative of Wefunder and my experience.
23 January 2023
Reply from Wefunder, Inc.
Hi Dameka,
Thanks for reviewing us! I'm glad that we have been able to help you - let us know if you need anything else!
Merc
Head of Investor Success
Wefunder, Inc.
Had 2 days where the link to complete…
Had 2 days where the link to complete the transaction did not work. Reset computer and allowed to finish.
Peter Moser
3 January 2023
Reply from Wefunder, Inc.
Hi Peter,
Thanks for reviewing us. I appreciate you letting us know your experience and I have the engineers looking into why that happened so that we can fix that and make sure it doesn't happen again in the future. if you need anything, you can email me at merc@wefunder.com.
Merc
Head of Investor Success
Wefunder, Inc.
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