Wefunder Reviews

Wefunder
( 9 reviews )
Website: Wefunder.com

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Wefunder Customer Reviews

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Wefunder Is Shady Boots...
June 14, 2024

have had it up to -here- with Wefunder dodging accountability for covering up the theft and misuse of my Facebook photo by Tribel (an offering on their platform) to make it look like I am part of their staff. I used to work for Tribel's parent company and left on bad terms while it was still Liker, because I was mistreated. Flash forward to January 2024 and I see my face on a graphic that depicts the Tribel "content team"-- along with some other former co-workers who are in a similar boat, having left before this project existed. I warned Wefunder about fraud for weeks before it was quietly taken down without alerting the investors. I was on Wefunder since 2017 because of Legion M. And Wefunder deleted my account when I started to comment (again, with a *tone* but not inappropriately) about my experience. That is literally what their question portal is for... TRANSPARENCY. I am going to go out on a limb and say they want to keep their intermediary fee badly enough to throw their investors under the bus. This isn't even the only issue that LEGALLY needs to be disclosed and they know this. They have known this and so much more since JANUARY. If you need "receipts", I have pages of them. And you better believe the proper authorities do, too. I'd like to note that they have also just been responding to me with copied-and-pasted verbiage and did so 6 times to date. Literally, the same exact paragraph has been used to respond to my complaints for months.

>> Hi Chris, Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. Currently, we do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized. Mark "Merc" Mercer Head of Investor Sucess Wefunder >>

Furthermore, yet again, Wefunder hasn't explained why they refused to take down my image until weeks later. Nor why they haven't told their investors/customer base that they have been lied to about multiple material facts including hidden lawsuits concerting equity fraud. If this is to avoid an admission of guilt, I don't actually see it panning out. Because you see-- when I linked to the SEC filings for the company in question to show there was a discrepancy in the fundraising totals initially reported through the site and the founder by about 50%, that is when they clearly freaked out and deleted my account to wipe all of the questions and evidence I posted. And this was before I found out they announced raising even more than this somewhere else. Let the record also show that even though Wefunder allegedly have no plans to raise more money with the company in question, they graciously allowed 1,450 brand new comments to boost the page's credibility. As well, they are currently operating without a license in San Francisco. This came from the Treasury. I'm not sure how this isn't supposed to be clear fraud but you don't have to take my word for it. Because a verified, accredited investor with 115 projects in his Wefunder portfolio just asked them about a fraction of this on their question portal and they still haven't been able to explain themselves.

Stay away from WeFunder
January 26, 2023

I recently attempted to launch our CF campaign using WeFunder. At first it was easy and relatively simple to get it going. As the process went along, I made every effort to complete any and all outstanding items with haste so as to not delay the launch of our raise with the filing of Form C by WeFunder.

After doing all that, including a quick turnaround of our financial review by an independent CPA firm, they dropped off the planet and getting responses to emails (cause you can't reach them any other way) was sporadic at best. It took me nearly two months to get a response telling me they wouldn't allow our company's campaign on their platform because its a subsidiary.

That's a load of crap, too, because in a quick review of several other live campaigns, it becomes readily apparent there are plenty of subsidiaries on their platform. WeFunder had no problem accepting money from our investors though! And rather than be ethical about rejecting our campaign by immediately returning investor funds, they send out a cold and robotic email letting investors know the campaign was canceled and to into your WeFunder account to request a refund! Seriously WeFunder?!?

I do NOT recommend WeFunder as a resource for companies to raise money. Period, end of story.

Be Wary
January 4, 2021
My experience was similar. Invested $$, cancelled and no refund. Phone number seems bogus. Be wary.

Cancelled Investment
August 14, 2019
Made an investment, cancelled the next day, weeks before it was to be funded. I received confirmation of cancellation. Today I just received notice they pulled money from my account to fund the cancelled investment. Emailed and still haven't heard back.

Privacy not gauranteed
April 23, 2019
All my investments appeared on the internet. I contacted them to remove it from the online search engines. They gave no time frame as to when that would happen

Love taking your money, dont like paying
July 30, 2018
I used wefunder - when my company exited, trying to chase them for payment is frustrating, you essentially get no response and if you do - its a loose promise. I would advise people look elsewhere for investments.

Wefunder - Don't use it
December 14, 2017
We tried using Wefunder and found that the site layout is difficult to use, understand and confusing in its layout.. When putting in our information the site would not take it at times. We asked questions in writing and Wefunder would take 4 or 5 days to respond, if they responded at all. Then for some reason it showed that we had 2 companies listed on the same thing and there was no way to correct it. I would not recommend this site if you are serious players in business, complete waste of time.

Waiting for the documents about my investment for months!
December 8, 2017

I invested $2000 in Balance at WeFunder on 13-th of September and still waiting for the properly signed documents about my investment, despite the fact that the Balance successfully closed the round on 19-th of September.

Support feeds me with phrases that everything is all right, the problem is that they received too much money, so please wait another 1-2 weeks and so for more than 2 months.

I started to worry about this problem, and wrote the question about the problem on the Balance page on WeFunder:

https://wefunder.com/comments/15856

Two weeks passed and nope, any answers here.

For now, I didn't received any documents about my investment, and I don't know if I will receive it at all.

Can I be sure that I will receive my dividends, if the company will succeed, if I just can't simply get the documents about my investment?

Is Wefunder safe? They've been sitting on my funds for months
September 15, 2017
I made a substantial investment in one of their companies and waited months and months for the investment to close while they sat on my funds. Then just as the investment was finally about to close the offering changed substantially and so I decided to withdraw my investment. Now I've been waiting over 5 weeks for a refund of the my investment from Wefunder and they keep saying it will be done within a few days but then nothing. Are they running out of money? Are investments safe? I'm starting to wonder.

Jill September 28, 2017

Has your money now been refunded?

Doug September 28, 2017

Yes, I did finally get the money a few days after posting this after it was escalated to one of the founders. Not sure if this was just them being busy or if they were actually having some sort of cash flow issue but happily I'm paid up. Still a little wary of trying them again although one imagines they must have to put funds like this into a trust account and not mingle them with general operating funds.

Doug September 28, 2017

Yes, I did get my money back a few days after posting this after my request was escalated to one of the founders. Still have no idea if this was just them being too busy or if it was a cash flow issue although I do expect that investment funds would have to be kept in a separate trust account so not sure how that could have happened.

Jill September 29, 2017

Good to know! Thanks, Doug. I was concerned because I also have made an investment.