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Closing Guide


This guide covers all the good stuff around accessing your funds and finalizing the campaign: wrapping up administrative details, finalizing investment commitments to make those funds available for disbursement, finishing investor-related documents and contracts, and getting the money.

**If your campaign is currently live and you're looking to withdraw funds, scroll down to the section titled "What if I need some capital while the campaign is open?"** 


Your campaign closes on the date set in the Form C as the deadline to reach the (minimum) target offering. If you don’t reach your minimum by the campaign close date, we’ll have to cancel your campaign and refund investors. If you do reach your minimum, congratulations! We’ll start the administrative process of finalizing your campaign and disbursing funds to you.

Where do I find my campaign close date?

You can find your campaign close date on your Form C in the first section, under “Deadline to reach the target offering amount.” You can also see it on your /manage page under "Important Dates".

Can I change my close date?

Wefunder allows one extension per campaign with a maximum campaign duration of 6 months. You can also choose to close your campaign early (provided it's been open for at least 21 days), though you must provide investors with a 5 business day closing notice. (We'll need a bit of notice to make this happen, so let us know at your earliest convenience if you want to close early). To make adjustments to your close date, reach out to us at closing@wefunder.com.

How does closing work?

21 days before your campaign closes, we’ll reach out to confirm the date your campaign is closing and initiate next steps. If you have not yet used an extension and would like to, you can do so at this time. At this time, we’ll provide an update on:

  • Funds committed: This refers to all investments committed to a campaign — whether funded or unfunded. It’s every dollar someone said “I’m going to give to [company],” whether or not said dollar actually made its way to Wefunder.
  • Funds available: This includes all investments with funds in escrow and ready to be disbursed.
  • Unavailable or "blocked" investments: This includes all investments which are either unfunded or have funds in escrow but are not ready for disbursement due to another issue (learn more about issues that can block an investment in Section II).

In order for your campaign to be successful, you must clear your minimum target offering with available funds. It’s OK if unavailable investments become available after the campaign closes, but all commitments must be made before you close. You can see the status of every investment by downloading the csv ("Export Investor Info") on your /manage page. 

If you are unable to reach your minimum target offering in available funds, your campaign will be canceled and all investors will be notified and refunded.

What if I need some capital while the campaign is open?

Some founders choose to take advantage of a rolling close, which allows you to withdraw one tranche of available funds from your campaign while the campaign remains open. You must have at least your minimum offering amount in available funds to do so. If you launched your campaign without a lead investor or financials, we'll also need to first file a material amendment that formally adds those things to your campaign.  

Investors with investments eligible for disbursement must first be notified that you're initiating a rolling close and will have 5 business days to opt out of the tranche. Once the 5 business day period is over (provided you are still over your minimum in available funds) we can schedule a disbursement; we run a weekly tranche schedule with disbursements happening on Fridays. 

When you withdraw funds during a rolling close, you will countersign contracts for all investments included in the rolling close. This means that you’ve executed contracts with those investors whose funds are disbursed, and your campaign is officially successful. It also means that you can no longer cancel your campaign and refund investors whose funds you have withdrawn.

If you’d like to initiate a rolling close, feel free to reach out to us (closing@wefunder.com) to confirm the status of your available funds. Please note it may take a few weeks to set everything in motion and recieve your wire.

**Holiday 2020 Information **

In order to accommodate the significant number of companies set to close in December as well as give our staff some proper time off, we'll be instituting the following guidelines: 

If you're hoping to get funds before January of 2021 (excluding the one tranche we offer while the campaign is open), you'll need to close your campaign on or before December 2nd, 2020 to ensure we have time to send funds your way before the holidays. 

If you would like to close your campaign between December 3rd and January 13th,  you may do so with the understanding that we won't be disbursing any funds until 2021, and that most of the team will be on holiday at the end of December/early January so all questions should be addressed prior to the day of your close. 

If you'd like to keep your campaign open past December 2nd but need funds in the meantime, please request a withdrawal of funds in October/November (using your one allotted "rolling close") and plan to receive the remaining funds in January/February after your campaign closes. **We will not be offering rolling closes between December 2nd and January 15th**


Congratulations on a successful campaign! So what’s next?

Our goal is to get you an initial tranche of available funds within 2 weeks of your close date. A member of our team will check to make sure your available funds are over the minimum threshold and work with you to schedule a tranche date.

We'll then work to clear your blocked investments and ready them for a final disbursement. You can see which investments are still incomplete by downloading the csv ("Export Investor Info") on your /manage page. We will email everyone whose investments are blocked (and ask you to do the same) and prompt them to take the necessary steps by a deadline. Once the deadline has passed, we’ll cancel all remaining blocked investments and slot you in for the final wire. 

We typically disburse all funds within 2-3 tranches, depending on the size of your raise, whether or not you have early bird terms, the number of blocked investments, etc. 

Some common reasons why investments are blocked and how to clear them:

To resolve an issue with an investment, the investor can visit their "My Investments" page at https://wefunder.com/portfolio. Here they will see and be able to resolve any issues with all investments. 

  • Payment failed or missing payment: The investor has committed to investing but we have not yet received their payment. 
  • Reconfirm investment: If an investor needs to reconfirm their investment due to a material change, their funds (even if in escrow) will be blocked until this is resolved. If the investor doesn’t reconfirm the investment within 5 business days of viewing the material changes, the investment must be canceled per SEC regulations.
  • Re-sign contract: If an investor needs to re-sign their contract to agree to some change of terms during the raise (i.e. if they’ve been upgraded to Early Bird terms), their funds (even if in escrow) will be blocked until this is resolved.
  • KYC/identity verification: We're unable to verify the investor's identity with the documents provided; they'll need to provide a photo ID or their SSN. 
  • Accreditation verification: We're unable to verify accredited status with the documents provided; they'll need to upload a document to verify their status as an accredited investor. 
  • Tax ID: Some companies require that investors provide a tax ID number in order to invest, as their corporate structure will require them to send annual tax documents.
  • Reconciliation and refunds: These and a handful of other blockers are mostly housekeeping on Wefunder’s side, and we usually don’t handle them until it’s time for a final tranche. However, if all other blockers have been cleared and our housekeeping items are keeping available funds from climbing over your minimum, we’ll make an exception and clear them early.


Woohoo! Your money has been disbursed, but there are a few more steps...

1. Once all investments are disbursed, we’ll follow up with a zip drive of your executed contracts and a final investor list. Remember, once contracts are executed you have a legal relationship with your investors. Be mindful to adhere to the terms of the contract, and to keep their personal information secure.

2. Review your investor contracts and Form C to see what is owed to investors (i.e. repayments, stock certificates, etc.) and prepare to delight your supporters by making good! 

For Revenue Share or Loans: Reach out to closing@wefunder.com to make sure the repayment schedule is set. You can find the terms in the template contracts your team reviewed (also linked at the bottom of the Form C page). Please also keep in mind if you have early bird terms that those contracts will have different terms.

For SAFEs: Work with your attorney or reach out to closing@wefunder.com to learn about our partners who can work with you to issue stock certificates, provide cap table management, etc. Make sure to follow up with investors and send them updates about this! 

Don’t forget to send out perks! If you have questions about perks, email our team closing@wefunder.com.

3. We recommend posting monthly updates (here’s why) to keep your investors engaged and aware of how your company is doing! Here’s an example of how important updating and engaging investors can be to a company’s success. On your dashboard, and through this direct link, you can find a form to send updates to the Wefunder community.

And remember — your investors form a community of your most committed users/supporters. They’re your most passionate brand ambassadors, so feel free to mobilize this network in your favor!


If your campaign is successful, we’d love for you to raise a future round on Wefunder! Feel free to reach out to your Wefunder contact at any point in the future. 

And… as always, feedback! We would love to hear from you! Please email closing@wefunder.com with any thoughts, complaints, celebrations, or anything you’d like to share with us.