Wefunder, Inc. Reviews 375

We invested through Wefunder and now regret it merely because of the nonexistent customer service. We have reached out via email and phone to schedule a brief phone call to answer our questions. It's now been 20 days and we've made over a dozen attempts. At first we got useless responses via email that seemed like they were nothing more than an AI response telling us to read the website. No one ever responded to our phone messages and they've stopped responding to our emails. Maybe they'll respond if you haven't funded yet but once you have, don't expect any customer support.

Invested in Aquaborne SAFE on Oct 2021. Love the idea. There was slow and little progress. I don't see how they were as ready for production as reported. I just checked Wefunder and the last update posted was over 2 1/4 years ago. Just checked on the catalog mentioned on the Wefunder page is a bad link. They reportedly received $113,349 in funding through Wefunder. I won't be using Wefunder again.

I can't add the bank account to platform, there no comunication posibility, only email. I can't Withdrawal the money, don't invest here..

I have invested in four venues. One of them failed and the money was lost. I know that's a risk taken when you buy shares. The other three in which I invested more than three years ago have not make any reports or communications two of them for more than a year and the other since August 2024. When I asked the wefunder personnel they said they just recommend fundraisers but it seems they don't have the comprommitment to investors. Total uncertainty

Its scam website completely . Customer service is more worst !

I paid for "VIP" membership and in terms of "support," there is none. I've sent 3 emails over 7 days, and left a voicemail. They claim they will respond within 1 business day, they do not. They are holding my money on interest in an investment I've asked multiple times to withdraw from, but nobody is responding. Do not do business with them if you want any sort of customer support.

A helpful platform for gaining access to early-stage startups.

Wefunder responded to my review and was not telling the Truth. The fee's are not on the front page of their website. You have to go to FAQ's and enter fee's to see what they charge. A Mr. Mark Mercer stated that untruth statement to me in an email. I stand by my 1 Star rating. The deception is Real!

Do not Invest in WeFunder!!! I sent my money to WeFunder on May 13, 2024 with the intention of investing in a movie. WeFunder never invested my money and several months later the movie that I was going to invest closed without my money being invested. They claimed that without their fee's they would not invest my money. Not once were there fee's ever mentioned. I have been trying to have money returned since October without any success. Customer service is horrible and I would definitely stay away from this company. That is the reason for me rating this company 1 star.

THIS WEBSITE IS A SCAM. I WAS INTRODUCED TO THEM FROM SOMEONE FROM INSTAGRAM. I WAS GIVEN A GRANT THE FIRST TIME AND THE PERSON WHO REFERRED ME RECEIVED A PORTION OF THE GRANT FOR REFERRING ME. THEREFORE I DIDN'T RECEIVE THE GRANT. THEY WANTED ME TO PAY TO GET IT BECAUSE SHE RECEIVED A REFERRAL FEE. FOR A SECOND TIME A GRANT WAS OFFERED BUT I HAVE TO PAY $300 TO GET IT. MAKE IT MAKE SENSE MOST GRANTS ARE FREE AND YOU ARE MADE AWARE OF ANY FEES UP FRONT. LASTLY YOU CAN ONLY PAY THE FEE WITH CASH APP AND YOU CAN'T DISPUTE ANY CASH APP FEES THROUGH YOUR BANK. THEIR CUSTOMER SERVICE SUCKS AND THEY'RE VERY RUDE. I WAS REJECTED THE GRANT BECAUSE OF THE $300 FEE. THEY ALSO WAS MAD SO THEY BLOCKED ME AND MY SON. MY SON HAD NOTHING TO DO WITH MY QUESTIONS. SMH. RUN DON'T DEAL WITH THESE PPL.

I filed a medium-sized “reservation” to invest in a local startup. WeFunder:
− took 2% transaction fee, which is unnecessarily large as I paid via ACH (this is in addition to the 7.9% fee they charge the investees!);
− took the money immediately, despite the company not actually being ready to receive it yet; and
− has been sitting on my money, KEEPING 100% of the interest on it for these past several months!

To be clear, I’m not blaming WeFunder for the delays — they can’t control how quickly the investees move — but I must blame them for their own actual behavior.

EDIT: They “responded” to this review with a string of weird non-sequiturs 🤨 [2024-12-21 Reply from Wefunder, Inc.]
• Instead of explaining why ACH supposedly warrants a 2% transaction fee when banks generally charge well under a dollar for it, they just vaguely announce that they offer some *even worse* payment options- namely, credit card with higher fees, and bank wire with the same fees but higher minimums.
• They correct something I never claimed, which is that “investors” are responsible for the 7.9% investee fee. (I mentioned the 7.9% investee fee in my original post only to emphasize that, at least prima facie, WeFunder *does not* need to be charging excess fees on the front end of the transaction since they’re already profiting substantially off the back end.)
• They remind me that I “approved” my third complaint in a tiny paragraph (§19.4, “Interest”) buried a fifth of the way into their 46,000-word ToS document.
• They conclude by bizarrely “apologizing” for the *only* negative aspect of my experience which I clearly stated that I understand isn’t their fault.

There's a company called Runner City that has raised multiple rounds on this platform. However they've violated laws and deceived the public on what they're offering. I questioned multiple times over last three years and addressed this via question only to have the founder flag as spam and Wefunder delete it. So basically if anyone questions or asks something significant, Wefunder enables the company to delete it and stop investors from seeing it. I'm weary of a platform that pretty much lets people get defrauded under the guise of investment in my opinion. Do your due diligence. There's neutrality and then there's enabling bad actors by censorship.

I invested $100.00 in a company on Sept. 15, 2024. Later the same day, I received two calls from numbers in Washington, which was odd. Then another a few hours later. I was annoyed, but I had not yet made the connection to Wefunder. At 12:30 am on Sept. 16, a call came from a different number, and then another at 1:20 am from another number. Then another at 5:05 am from a different one on Sept. 17. At this point, I started questioning what I did differently to cause this and realized it was singing up for Wefunder and trying to verify my number by text, which never came. I blocked and reported all the numbers as spam. I know nothing will be done, but at least I took the step to block them.

8:30am on the 17th, I cancelled my investment and deleted my account.

The finalization date was set for Nov. 14. I cancelled two days after investing since their email said I can cancel up to 4 days after the fundraiser closes at 11:59 p.m. on Sept. 15. I contacted them to let them know I cancelled the investment and deleted my account, and I also told them why. Aside from an automated confirmation message, I received no other email from them, so I don’t know if they actually read it.

I cannot attest to the validity of the companies they represent or any other services they may provide. I only signed up for a few days, but what happened with the late-night phone calls during that period was unacceptable, so I cancelled everything.

Your experience may be different, but I would recommend exercising significant caution if you plan to sign up and invest with this company. You might receive unwanted and unwelcome phone calls at random hours of the night. 

They refunded all the money, including the $10.00 fee. I got lucky since I cancelled before they sent the money to the company. Others were not so fortunate. 

If you decide to go ahead with signing up for Wefunder and investing, I recommend creating an email address only for that purpose. Also, buy a cheap smartphone and get a separate number for signing up. That way, you can just mute the phone and toss it in some corner so you don’t have to concern yourself with companies trying to call at random hours for whatever reason. If I ever try again, that’s what I’ll do. Also, if interested in a company they recommend, try to do some of your own research on the company just to be a little safer.

I gave them 2 stars instead of 1 because I had only signed up for a short while and they refunded my money. If you read all of this, I’m sorry and thank you for indulging in this excessively lengthy review/rant.

I invested $2000 and heard nothing about any physical address or any reliable phone contact. I wish "Wefunder" respond to this email where at least I would have someone to communicate with!! If I do not hear from Wefunder, I will contact the FBI for "WeFunder" Interstate and Wire Fraud.
Will file IC3.gov

Here is the last Review July 2024 Copy & Paste:
There is no update for many companies after raising fund!! Many companies do not communicate with investor after raising fund which some completely stopped work or disappeared . This is not high-risk, but a deception that some companies can be on the platforme With some listed information to shade the investor then no protection for the investor after all. and I don’t know where my money has gone !.
Unfortunately, (a high-risk )approach is still being used to defend the platform and be stripped of any responsibility!!

Date of experience: July 21, 2024

Pathetic customer support.

There is no update for many companies after raising fund!!
Many companies do not communicate with investor after raising fund which some completely stopped work or disappeared . This is not high-risk, but a deception that some companies can be on the platforme With some listed information to shade the investor then no protection for the investor after all. and I don’t know where my money has gone !.
Unfortunately, (a high-risk )approach is still being used to defend the platform and be stripped of any responsibility!!

I gave my documents to them for an Education Loan and they told me we will call you soon but I was waiting for took theirs call but they didn't call me And when I told them for Give me permission to delete My parents and my documents they didn't seen.
My humble request to you guys it's a scam, Plz don't give them your documents, And they Terminated my Father's "CIBIL SCORE" plz guys stay away. If you can see my Review sir so plz Talk to your Member and then Delete me and my parents Documents
Your Member Phone number:- +91 89775 23525 Talk to them and Delete me and my Parent's Documents

I donated to a campaign on Wefunder ONE TIME, several years ago. Since then I've been relentlessly barraged with a million emails from anybody and everybody looking for money. I removed my information from their site but to no avail. They have a list they give out to everyone that includes names and email addresses, completely disregarding user preferences, not to mention against email spamming laws. Don't invest on their platform if you don't want to receive spam mail forever.

Please excuse my tone, but I 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 and I see my face on a graphic that depicts the Tribel "team"-- along with some other former co-workers who are in a similar boat. I warned Wefunder about fraud for weeks before it was quietly taken down without alerting the investors. I was on Wefunder since 2017. And they 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. Final straw is that they just had LinkedIn wrongfully delete a comment addressing this, too. 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 since JANUARY. Jonny and Suzanna are so wrong for letting Mark play the bad cop while they were in on this the whole time. If you need receipts, I have around 140 pages of them. And you better believe the proper authorities do, too.

I'd like to note that this below reply from Mark is now the 5th time the exact same verbiage has been used to respond to this complaint. Furthermore, yet again, he 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. 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 Tribel's 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. Let the record also show that even though they allegedly have no plans to raise more money with the company in question (Tribel), 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 investor with 115 projects in his portfolio just asked them about a fraction of this and they still haven't been able to explain themselves.

I "invested" in two companies and never got anything in return. I went into it with good intentions, thinking I was helping smaller companies expand. It felt more personal than Wall Street. But I never got anything in return. Twice burned, I will never use Wefunder again.

I put my company on it , this week send me email saying . Can be on their site yet new company that just came out. Now its a problem to try and raise money for your own company.