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- Cons No curation or due diligence of offerings (beyond minimum background checks and anti-fraud) High carried interest on Reg D investments (up to 20%) Complex overall entity structure of various affiliates and partners
yieldtalk.com › wefunder-reviewWefunder Review - YieldTalk: Informed Investment Crowdfunding
Jul 22, 2024 · Do you agree with Wefunder, Inc.'s TrustScore? Voice your opinion today and hear what 349 customers have already said.
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- 1885 Mission St, San Francisco, 94103-3501, CA
- 30
- (415) 209-5902
Jan 2, 2024 · Wefunder provides an easy way for nonaccredited investors to support early-stage startups, but it’s not without substantial risk.
- Wefunder
- Wefunder Overview
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- Final Verdict
Wefunder is one of the few equity crowdfunding platforms that open up the world of investing to anybody seeking to invest in a startup company. Equity crowdfunding is a young phenomenon and few companies are poised to fully take advantage of it. Ever since the JOBS Act was passed into law in 2012, thereby legalizing equity crowdfunding, several com...
Wefunder gives US corporations and LLCs an equity crowdfunding platform that connects them to the 658,948 registered investors (as of September 2020) on their site. A company can create a profile with Wefunder for free. Fees are only assessed after a successful raise. Along with the aforementioned Regulation Crowdfunding campaigns, companies can al...
Wefunder takes a fairly hands-off approach when it comes to the companies that can use their service. However, in their FAQ, Wefunder states:
These are the terms and fees for Wefunder Regulation Crowdfunding campaigns: With a Wefunder Regulation Crowdfunding campaign, you can set a funding goal of as little as $50K or as much as $1,070,000 (though if you exceed $1,070,000 in funds raised, Wefunder will “spin up a free Regulation D campaign for you,” so you can continue fundraising from a...
Wefunder screens companies for signs of fraud and/or dealings in the things forbidden on their platform, but they generally take a light hand when determining who can and can’t raise funds. Though they recommend having at least one experienced investor endorse your campaign and set the terms of your crowdfunding campaign, this is not a requirement.
Wefunder puts all the relevant information relating to their crowdfunding campaigns in their FAQs, though it would be nice if they included basic information, such as the fee rate, more prominently on their home page.
Beyond the FAQs and the other informational literature on their website, Wefunder lists an email address for customer support — but that’s about it. Once you’ve launched a Regulation Crowdfunding campaign, however, Wefunder will stay in contact with you.
Negative Reviews & Complaints
One reviewer noted that Wefunder does not take the “curatorial approach” when determining who can use their platform and instead let virtually any company fundraise while screening only for signs of fraud. It’s a departure from the practices of equity crowdfunders like SeedInvest, which boasts of only letting 1% of companies who apply fundraise on their site. While this approach may carry more risks for the investor, campaigners may welcome it. I should note that in the comments section of th...
Positive Reviews & Testimonials
The few reviews I’ve seen of Wefunder are generally quite positive. The low investment minimums (just $100!) are seen as a way to draw the largest possible pool of investors to your campaign. And the unparalleled success of Wefunder in the Regulation Crowdfunding sphere — remember, they have half the market share! — generally demonstrates that of all the companies operating in this still-in-its infancy industry, Wefunder is the one equity crowdfunder that has it figured out.
Wefunder states of the companies they have funded thus far, “(m)ost are alumni of Y Combinator.” This should tell you something about the sort of company poised to take advantage of Wefunder’s Regulation Crowdfunding platform. It’s not the mom-and-pop diner on the corner but rather the company with exponential growth potential — the kind of company...
- Jason Vissers
349 people have already reviewed Wefunder, Inc.. Read about their experiences and share your own! | Read 21-40 Reviews out of 340.
- (348)
Jan 26, 2023 · Wefunder is a public benefit corporation which aims to create an opportunity of angel investing in start up companies. Is Wefunder legit? Read customer reviews.
May 13, 2022 · None of those reviews should keep you from using Wefunder (especially since you’ll find similar comments about most crowdfunding platforms)―but you might want to keep them in mind as you run your campaign and communicate with investors.
