About this raise: 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.
Investment Overview
$2,760,843 - Total
Deal Terms
Total Commitments ($USD)
- Platform
- Honeycomb
- Start Date
- 08/30/2022
- Close Date
- 11/02/2022
$50,002
$4,999,997
$100
Equity - Preferred
Series A
RegCF
/ RegD 506(c)
$3.58
$290,000,000
Company & Team
Company
- Year Founded
- 2012
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- B2B
- Margin
- High
- Capital Intensity
- Low
Financials
- Revenue +132% YoY
- $9,864,058
- Monthly Burn
- $277,867
-
Runway
- 24+ months
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $11,941,385
- VC Backed?
- No
| Close Date | Platform | Valuation | Total Raised | Security Type | Status | Reg Type |
|---|---|---|---|---|---|---|
| 12/22/2023 | Wefunder | $175,000,000 | $4,034,287 | SAFE | Funded | RegD 506(c) |
| 11/02/2022 | Honeycomb | $290,000,000 | $2,760,843 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
| 06/04/2021 | Honeycomb | $160,000,000 | $8,990,050 | Equity - Preferred | Funded | RegCF / RegD 506(c) |
Growth Charts
Revenue History
Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.
Valuation History
Price per Share History
Note: Share prices shown in earlier rounds may not be indicative of any stock splits.