This is a letter I sent to the WeFunder CEO that was never responded to. I gave him 2 months to answer and he did not. I am writing to formally express my disappointment with WeFunder’s platform, operations, and investor-facing disclosures.I have invested in 21 companies through WeFunder. Nearly all have failed. While I fully understand and accept the inherent risk in early-stage investing, outcomes at this scale indicate something beyond normal venture risk. They point to systemic failures in company vetting, disclosure, and post-raise accountability.What I find particularly troubling is how portfolio performance is currently represented to investors. My dashboard reflects an overall return of approximately 0.97. In reality, based on actual company outcomes and capital impairment, my return is closer to 0.10 to 0.20, if that. This discrepancy is misleading and materially minimizes investor losses. Investors may be retail, but they are not unsophisticated, and accuracy matters.Additionally, WeFunder appears to exercise little to no meaningful oversight or accountability once companies have raised capital. Many issuers provide minimal updates, fail to execute on basic expectations, or simply disappear, with no apparent consequences. That lack of accountability ultimately rests with the platform that curated and promoted these offerings.At this point, I have no viable mechanism to recoup losses or pursue remediation. As a result, I plan to share my experience publicly through a social media series describing my investments, outcomes, and concerns regarding WeFunder’s practices. This is not motivated by emotion or retaliation, but by a responsibility to inform other investors who may be relying on WeFunder’s representations.Before proceeding further, I am offering you the opportunity to respond substantively or explain how WeFunder justifies these representations and outcomes.I look forward to your reply.
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