Getting started on your Wefunder campaign
What you'll do for your Wefunder Campaign:
- Provide information about your business — things like GAAP financials and potential risks
- Create your public Wefunder profile — we've provided you with a custom-made editor to help you craft a beautiful landing page
- Bring the crowd — invite your customers, friends, family, and colleagues to invest in your business
What we'll do for your Wefunder Campaign:
- Generate, review, and file your Form C with the SEC — our lawyers will make sure your Form C is compliant with the law
- Provide ready-to-use standard contracts for revenue shares, convertible notes, and a standard SAFE
- Polish your profile to provide the best experience for you and investors
- Handling everything to do with gathering investors including:
- promoting your campaign to our community of over 170,000 investors
- handling all transactions
- targeted marketing to our community if you reach certain fundraising milestones
- providing software that allows you to easily engage with investors even after your campaign closes
As the team that helped write the JOBS act in 2012, we know crowdfunding inside out.
Step 1: Get started on Wefunder.com [30 minutes]
As you start your application, we'll ask for some basic information about your business and your plan on Wefunder.
Think about the type of terms you would like to offer investors. If you aren’t sure, we’ve put together a helpful guide here.
Step 2: Receive a fundraising estimate from our team of experts [1 - 2 business days]
Hold tight for a day or so while we review what you've submitted and come back with an estimate of how much we think you'll raise on Wefunder.
Step 3: Finish filling out information for the SEC [3 hours]
Now that you've received an estimate of how much you'll be raising, we'll ask you to provide some more information.
Your goal in this section is to fill in the information as accurately as possible — next we’ll be reviewing it with our lawyers and filing it with the Securities and Exchange Commission.
What you should provide: Two years of CPA reviews and GAAP financials. If you're planning to raise more that $107,000, your GAAP financials also need to be reviewed by a CPA. If you don’t have that yet, don’t worry — we can introduce you to a CPA to help. You can learn more about financial requirements here.
Step 4: Build a polished profile [3 hours]
In this section you’re building the profile that investors will see and use to determine whether or not to invest in your business.
Your goal here is to build the most compelling pitch about your business possible, without including any projections of future growth (the SEC doesn’t like that) or making any false claims.
What you should bring: any photo, video, or written content you have about your business, as well as compelling numbers and charts.
The best profiles also usually offer perks to investors; check out our guide on perks here, and more information about how to build a beautiful profile here.
Step 5: Get ready to launch! [5 - 10 days]
Once you've completed your profile and disclosures, you'll be assigned an Account Manager on the Wefunder team, who will be your point of contact moving forward.
During this time, your primary role is to be available for questions. As we generate and review your Form C with our lawyers, and file it with the SEC, we’ll probably have additional questions for you.
This process can take a few days. We want to make sure everything is perfect before filing your Form C with the SEC. Once you’ve done a final review and signed off, we’ll take care of the filing for you — and you’re off!
[1 - 6 months]
Your campaign is live! When your campaign first goes live, it's in stealth mode, meaning only investors with the direct link to your campaign can see it. Your job during this time is to bring the crowd — usually about 60% of it — with support from our team. Once you've raised $5,000, one of our Storytellers will polish your profile before it appears on our explore page. You have up to six months from your initial launch date to reach your minimum fundraising goal.
Once you've chosen a route and reach $20,000 in investments, you'll be featured in our weekly newsletter and a targeted marketing newsletter, which goes out to our community of over 170,000 investors. You'll also be featured on our Instagram and Facebook.
Once you reach $50,000 or your minimum goal, you can withdraw one lump sum once before the closing of your campaign.
We’ve helped a lot of companies fundraise on Wefunder, and we’re here for you during this time. Check out the fundraising playbook we’ve put together with best practices, including advice from 300+ founders on how to run a successful campaign. Also be on the look out for regular check-ins from the Account Manager to talk strategy. If you want more advice, or have questions, don’t hesitate to reach out — your success is our success!
Step 1: Tying up the loose ends [3 - 6 weeks]
Your campaign ends once you reach your maximum goal or your deadline comes. Congrats on completing this journey! We're grateful to have played a part.
During this time, we'll continue to take care of closing the campaign. We'll finalize all of your investments and send a lump sum directly to your bank account.
At closing (and at the time of your one other withdrawal, if you make it) we'll charge our fee — 5% cash and 2% equity of whatever you raise.
Step 2: Continue to engage the network you’ve built [30 minutes]
You've launched a successful campaign, collected your money, and are building your business. Don't forget that you now have a network of dozens, even hundreds of people who are financially invested in your success!
Your role during this time is to engage with your Wefunder network by:
- Posting quarterly updates on your profile page
- Adding your investors to your newsletter or other marketing promotions
- Asking them for support — looking for a designer or help finding a venue? Ask your investors!
More information about the closing process can be found here.