Wefunder
Angel investing for everyone
Overview
$1,459,037 - RegCF
$2,760,843 - Total
$2,760,843 - Total
Total Commitments ($USD)
Platform
Honeycomb
Start Date
08/30/2022
Close Date
11/02/2022
Min. Goal
$50,002
Max. Goal
$4,999,997
Min. Investment
$100
Security Type
Equity - Preferred
Series
Series A
Funding Type
RegCF / RegD 506(c)
Price Per Share
$3.58
Pre-Money Valuation
$290,000,000
Rolling Commitments ($USD)
Status
Funded
Reporting Date
11/30/2022
Days Remaining
Funded
% of Min. Goal
2,918%
% of Max. Goal
29%
Likelihood of Max
Funded
Avg. Daily Raise
$22,797
# of Investors
2,128
Momentum
Funded
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Location
San Francisco, California
Industry
Financial & Insurance Products & Services
Tech Sector
Fintech
Distribution Model
B2B
Margin
High
Capital Intensity
Low
Wefunder, with a valuation of $290 million, is raising funds on Honeycomb. The crowdfunding platform allows investors to invest in a variety of startups. The company is building a stock market for startups to raise money in pre-IPOs. Wefunder is a market leader in crowdfunding with over 40% market share in Regulation Crowdfunding over 2022. The business generated $10 million in revenue in 2021 and is launching in Europe in the fall of 2022. Nick Tommarello and Greg Belote founded Wefunder in 2012. The current crowdfunding campaign has a minimum target of $50,002 and a maximum target of $4,999,997. The campaign proceeds will be used for working capital, hiring, and general and administrative expenses.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$9,864,058 |
$4,243,105 |
|
COGS |
$0 |
$0 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-3,334,409 |
$-1,122,515 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$7,547,982 |
$1,567,778 |
|
Accounts Receivable |
$0 |
$0 |
|
Total Assets |
$8,000,901 |
$1,625,220 |
|
Short-Term Debt |
$1,592,735 |
$79,896 |
|
Long-Term Debt |
$0 |
$0 |
|
Total Liabilities |
$1,592,735 |
$79,896 |
Financials as of: 08/30/2022
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Raise History
| Offering Name | Close Date | Platform | Valuation/Cap | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|---|
| Wefunder | 11/02/2022 | Honeycomb | $290,000,000 | $2,760,843 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
| Wefunder | 06/04/2021 | Honeycomb | $160,000,000 | $8,990,050 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
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Ratings 
Wall Street has Morningstar, S&P, and Bloomberg
The equity crowdfunding market has KingsCrowd.
Analyst Report
Pending Review