WeFunder Review and Overview of Equity Crowdfunding Platform

[@nickylove7768]

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[@CrowdWise]

Sorry, one minor typo at 6:26 $83.9 million is the total Reg CF capital Wefunder helped raise since 2016, NOT year to date. WeFunder had raised $27.43 million (Jan-Nov 2019) at the time of this video. That still puts it as #1 across all Reg CF funding portals.

[@thepodlabs]

Thanks for this video, it’s been very informative and helpful!!

[@thelivealohashow6162]

I'm starting a campaign, but from what I've seen is we still have to create a PAD list with all of our contacts. But most of us indies working on zero budgets don't have reliable contacts.

[@samheldmann]

Is the guide for Netcapital still coming?

[@ariqkamil571]

is it possible to invest for non us citizen,and how they pay the investor from outside American?

[@benhael3624]

So does that 2019 number mean that only 103 startups received funding for the companies through the platform in 2019?

[@CrowdWise]

It's a little hard to say for sure, since a company that started in 2019 may not have closed until 2020 or after, while companies that closed in 2019 may have been started in 2018 or even before. That being said, I'm seeing about 122 unique campaigns active for Wefunder in 2019. To compare, they've already had 285 campaigns in 2020! You can explore the data yourself using Kingscrowd here: www.kingscrowd.com/analytics/ - that page is free, so you can select start/stop dates, and then filter based on platform or anything else. For each individual raise data (valuation, amount raised, etc.), you can check out their Ratings tool here - www.kingscrowd.com/ratings/ It does need a subscription for a free 30-day trial, use coupon code "WISE20", then you will get access to the complete dataset on the above Ratings page.

[@steenbramsen320]

What happens if the minimum funding target for an offering isn't reached. Will wefunder automatically return the money to your account?

[@CrowdWise]

Yep! Investor funds will be held in an escrow account until the fundraising target has been met. If it fails to meet the minimum, funds are returned to investors. In addition, investors are typically notified a few days before a campaign closes or starts to withdraw funds so that investors can cancel their investment up until then if needed. More info on WeFunder's escrow here - help.wefunder.com/payment/304319-do-my-funds-go-in-an-escrow-account

[@1Queen_Dee]

@@CrowdWise Is there anyway to stop investments after countersigning?

[@CrowdWise]

@@1Queen_Dee I believe the rule is that you have up until 48 hours before either the closing deadline or before a rolling close to cancel your investment commitment. The company is required to notify you if they plan to do a rolling close so that you have a chance to cancel you investment. Once the funds have been "closed", however, you can no longer cancel your investment.

[@1Queen_Dee]

@@CrowdWise you cant ever cancel it. You are locked in for the life of the contract? How often is a rolling close? Sorry, about all the questions

[@CrowdWise]

@@1Queen_Dee So let's say you invest in a company and their "Close date" is December 30, 2022. Now once they hit their minimum goal, say $100k, they may choose to start withdrawing funds, even before Dec. 30 - that is what's typically referred to as a "rolling close". It means that their campaign will still stay open until Dec. 30, but they can start "locking" in funds and withdrawing it to start using the crowdfunding capital before that date. Now in order to do this, they are obligated to notify investors before doing such a rolling close, so you would have received an email, which gives you the necessary 48 hours to cancel your investment. But after either a rolling close or the final close date, then yes, you are locked in to the investment. That is the nature of investing in these early-stage companies - they are "illiquid", meaning you can't buy or sell them whenever you'd like, like you could with a public stock. There may eventually be secondary markets set up, but not yet on Wefunder. The best way to tell if your investment has already closed or not is simply to log into the platform where you made the investment (e.g. Wefunder), click on "Portfolio" in the top right under your profile image, and then find the investment. If it hasn't closed yet, you still still be able to click "Cancel" for that investment.

[@pieterborremans428]

No deal curation is a big no for me.

[@VideoNash]

thanks