The main downside of using Wefunder is that the law requires that you disclose some information about your company to the public, such as your financials and ownership. If you are not comfortable doing this, you can't raise money on Wefunder.
Otherwise, most of the other potential downsides have been solved:
- One entity on your cap table
- You choose a Lead Investor to direct the vote of all shares
- Startups first funded by Wefunder have since raised over $5 billion from VCs
- Accept unlimited retail investors
- No legal obligation to file annual reports