ComplaintsforWefunder

• Initial Complaint

  05/22/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  >>>"Hi *****,Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. Currently, we do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized.**** "Merc" ****** Head of Investor Sucess Wefunder ">>>Now that we have that out of the way, I would like to report that this business has now responded to my complaints with this verbiage 5 times across different reporting platforms and they refuse to be accountable for their behavior. I've had comments deleted on social media which tagged the business/their representatives to alert them to the seriousness of the problem. Emails are currently going ignored. It's clear this business is just trying to wear me down. They keep implying that I reached out too late and the fact that the raise was "finalized" removes their responsibility un-finalize it by alerting their investors they were defrauded and lied to on their platform. **** in mind it took them weeks to remove my image (along with the other stolen and deceptively used images) and they never apologized or admitted what happened. There's been no explanation for this. I am submitting another complaint because I'd like to officially mark this as a scam, but the BBB suggested a complaint again. Once more, a significant amount of investor money is unaccounted for with the SEC with the totals for this raise ranging from $1.4 MM to $3 MM depending on who you ask. I'll provide examples of the varying totals here.

  Business response

  05/22/2024

  Hi *****,
  
  Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. Currently, we do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized.
  
  Mark "Merc" ******
  Head of Investor Sucess
  Wefunder

  Customer response

  05/22/2024

   
  Complaint: 21745617
  
  I am rejecting this response because:
  

   

  You never updated me on how your "Compliance Team" ruled on the fact that you were aware since January that unreported CSAM images and *** propaganda posts were reported to have been a factor in this company's history by a former employee of it. Nor how your "Compliance Team" ruled on the fact that you were made aware that fake accounts and bots that were used to manipulate engagement, sign-up stats and end-users have been a factor in this company's history. Are you found to still be "Compliant" after refusing to let your investors/customers know that you failed the ~rigorous fraud checks~ mentioned in some of your other BBB complaint responses? I think you know that you have been caught intentionally withholding this information beyond a dereliction of duty. I think you might actually believe that nobody is going to find out about all of this. Which is why you've been stonewalling with the same response. Perhaps you don't want to admit that you couldn't have saved yourself the shame of this with a series of ****** searches because you were tempted by the idea of this founder's following migrating to your site by the thousands-- in numbers that could actually be twice as much as you've last reported on their page. So, no. I don't accept this response. Your investors won't, either. 

  
  Sincerely,
  
  **********************************

• Initial Complaint

  03/30/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have invested some money through Wefunder. I was told that before the business goes through the court system, I can cancel my investment at any time, and get my money back. I have cancelled my investment and I have not yet received my money. On the website it says that you can get the money back between 3 to 5 business days, it has been more than that, and my emails are not answered. I received one email that said due to safety checks it might take longer for the transfer to go through, but did not tell me how long. The irony is the money is going back to the same bank and account that it came from. There is also no one to speak with live. This looks like a scam.

  Business response

  04/03/2024

  Hi *******,

  I can see that our team worked with you and the refund has been submitted to you bank. We apologize for the delay that we had in this transaction.

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

• Initial Complaint

  03/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Wefunder has decided to collude with a fraudulent company and hide the disclosures of dishonest business/fundraising practices that I've made on their page in order to quietly collect their 6.5% intermediary fee from the highest sum. On top of all the misconduct I've reported to them, it very much looks like money is missing and that explains why they are so deep in bed with this company. On November 3rd, a sum of $2.8 Million collected from more than ***** investors was announced [ ********************************************************************************************** ]. Now, the total reflects half of that. Instead of responding to any of my questions and complaints publicly to acknowledge that wrongdoing had occurred or clear up the issue with transparency, Wefunder wiped my account and my comments with it. Luckily, my portfolio was tied to another account. I noticed that I only got my account wiped after I cited the discrepancy between this $2.8 Million announced thrice (by Wefunder's newsletter, the crowdfunding campaign's own post, and an update screenshot that showed investments inching toward that final number) and the end tally on the site/accounting on SEC ***** [ ******************************************************************************************* ]. All this information is ****** Searchable and not at all classified. They clearly just don't want to have to answer these questions. ***** has been made aware as well as the SEC.

  Business response

  03/18/2024

  Hi *********,
  Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. We do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized.
  Mark "Merc" ******
  Head of Investor Success
  Wefunder

  Customer response

  03/18/2024

   
  Complaint: 21445816
  
  I am rejecting this response because:

  Mark, 

  You said this verbatim in response to my last complaint. However, this doesn't explain why you don't feel the need to let your customer base (which included/includes ME) know that false information that would have swayed people to reach into their pockets to support Tribel was present on your page throughout the raise. You have not addressed the fact that it appears like you have a vested interest in covering for this company's clear dishonesty. You have not addressed the fact that it took way too long to have the image removed. You have not addressed the fact that you wiped my comment from the page which made multiple disclosures of information that any SEC-governed entity would be expected to disclose, or at the very least NOT destroy evidence of. However, your response lets me know everything that I need to know. I truly, truly hope that this exchange will make it onto the public profile for your business via the BBB. But rest assured, if it does not, it will make it to the public all the same. 

  
  Be Best,
  
  **********************************

  Business response

  04/12/2024

  Hi *********,
  Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. We do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized.
  Mark "Merc" ******
  Head of Investor Success
  Wefunder

  Customer response

  04/12/2024

   
  Complaint: 21445816
  
  I am rejecting this response because:

  Dear ****,

  Thank you for responding with the exact same verbiage for yet the third time. I will be rejecting it once more because as you can see from the comment you wiped (but not before I could grab a screenshot) the graphic wasn't (quietly) removed until February 8th. So, I'm glad that you keep noting the date that I reached out because it still doesn't explain why it took you so long, after so much rallying from me. It also doesn't explain anything else that I've point out. So, again, thank you for your clearly ill-intentioned and bad faith responses. Because having them in triplicate will be fantastic proof for all relevant regulators that this is pompously, intentionally unethical behavior on your end. I'll be passing this on duly. 

  Enjoy These Reindeer Games,
  
  **********************************

  Business response

  04/15/2024

  Hi *********,
  Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. We do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, 2024, which was well after the raise had already been finalized.
  Mark "Merc" ******
  Head of Investor Success
  Wefunder
  

  Customer response

  04/15/2024

   
  Complaint: 21445816
  
  I am rejecting this response because:

   

  I'm unsure if this is an attempt to provoke me to unprofessional behavior so that this complaint becomes unpublishable by the BBB, or if it's just an indication of where this company is in its playbook. But I will continue to reject this repetitive response for as long as you push it. As well as submit this record to my contacts in regulation and enforcement.

  
  Sincerely,
  
  **********************************

• Initial Complaint

  03/04/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  send by wire transfer

  Business response

  03/04/2024

  Hi ******,

  This was sent to you on the 28th of February and we show it as complete. If you have any other questions, please reach out to **********************************

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

  Customer response

  03/05/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  02/15/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have sought a refund from a crowdfunding raise for the business FYTA.Wefunder have not responded to multiple emails requesting the funds be returned, nor does their website allow for the cancellation to occur.

  Business response

  02/16/2024

  Hi *******,

  Thanks for reaching out. I have searched through our emails for your email and your name and don't have any emails from you. Please ensure that you are sending your requests to *********************************** In regards to your investment, unfortunately, your funds have been disbursed to the company, and your contract is countersigned, so your investment is confirmed, and we cannot cancel it. Once your contract is countersigned, it becomes legally binding, so at this point, your investment is fully executed and can no longer be canceled.

  If you require further discussion, please reach out to ***********************************

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

• Initial Complaint

  02/12/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Invested in **************** thru Wefunder,($****) Jan 31, 2023. (**** from my bank, $510 from my wefunder account). Decided to reduce investment Feb 1, 2023 from **** to 510 dollars. Didn't see any update in portal nor received any email. Just was able to take screen shot of adjustment. Still didn't see any log of any money invested. Contacted support services and wanted to know when I would get my ***** back to bank account(Feb 7) Was told it takes 3-5 days back. Amount has not been ($****)refunded. On Feb 7th it shows refund back to my wefunder, account ******** my **** from bank has not been refunded and no notation of where my money is

  Business response

  02/12/2024

  Hi ******,

  Thanks for reaching out. I'm not entirely sure why you reached out to BBB as we have responded to you and told you that refunds take 3-5 business days, which is standard practice. As you will note, today is the third business day. I can see that the refund is in progress. In addition, you have money in your Wefunder Cash account that you can refund back to your bank account if you wish.

  Thanks,

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

  Customer response

  02/16/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that I have been refunded and am happy with this resolution.

  
  Sincerely,
  
  ***********************

• Initial Complaint

  02/07/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I have been decrying fraud at the top of my lungs via Wefunder's Launch/Compliance teams for weeks now. The campaign in question is still operational as far as I can see.They were misusing my photo and other people who are not associated with this particular crowdfunding/stock project to fraudently represent us as current personnel for a campaign that raised almost 1.5 million dollars in its first round. Again, this campaign is still active. And while the graphic was VERY RECENTLY removed, there has been no public disclosure of the situation to correct/remedy it. People are still posting questions asking about how they can contribute to a campaign Wefunder knows is EXTREMELY suspect. They know this in full detail. As someone who used Wefunder to purchase shares of a totally different company years ago, this makes me furious. I don't even want to keep my personal shares in this unrelated company because of this, but I also would feel terrible trying to unload them onto another person and pull them into such unregulated territory. Again, this campaign in question is STILL operational on their site and it looks like they will be raising more funds in the spring. This is beyond absurd given the ***** I know Wefunder has on this campaign's activity and the questionable ethics of its founders/exec team. They can ask ******************* for the details because I have sent the ********************************* box EVERYTHING I have.

  Business response

  02/08/2024

  Hi *********,

  Thank you for contacting us. As you can see, the raise you mentioned was completed and concluded in November 2023 and is no longer active. Currently, we do not have any plans to host another raise with this company in the future. It is worth noting that your initial communication expressing concern was received on January 17, ****, which was well after the raise had already been finalized.

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

  Customer response

  02/09/2024

   
  Complaint: 21262116
  
  I am rejecting this response because:

   

  I believe it WeFunder's responsibility, at least in part, to publicly acknowledge what has transpired. Especially because they didn't do their due diligence to verify important information such as the validity of this company's advertised staff/personnel. I was/am personally impacted by this, along with several other people I know. The portal was used to raise funds with this misleading information up-- and that misleading information remained up for about two weeks after I specifically reported that my image and name were being misused to fraudulently represent me as somenoe who was associated with the project. Implicitly, WeFunder investors (customers) were led to believe that I and several other people associated with this project would be supported by their contributions as the staff. I was blatantly and deceptively tokenized in a humiliating way and it took the site far too long to act. And now accountability is being skirted. This is highly unacceptable.  

  
  Sincerely,
  
  *******************************

• Initial Complaint

  02/05/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  Wefunder failed to investigate City Zeniths business background and its constant failure since 2009. Wefunder led me to believe that Wefunder was regulated by FINRA. However, they have never been regulated by FINRA albeit Wefunder advertises their regulation on their website.Ive sent many emails to Wefunder since last fall with no response.

• Initial Complaint

  05/08/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Date of transaction January 17, 2023 in the amount of $1050.00 (one thousand and fifty dollars)The company sent me an email about cancelling my initial investment. I went to the website and canceled my investment. As, well as they sent me an email reading my investment was cancelled. Also, the email and website read my initial investment would be returned in the manner the account was funded (credit card.) I have provided them with documentation of all the above information (forwarded emails and screenshots of bank transactions) . However, my initial investment has not been returned to my bank account. **** (Investor CEO) sent me an email with fraudulent information. The email read my investment transaction was processed on January 17, 2023 and returned to my bank January 19, 2023. I emailed him a screen shot of my account for the month of January that did not confirm this information and forwarded the emails sent by the company confirming my account cancellations. Then he emailed Send ** your official bank statement so the company could research my concerns. I have contacted them several times trying to rectify this situation. Unfortunately, they refuse to rectify this complaint according to their agreed upon business practices. Thus, I am filing this complaint to be made whole again.

  Business response

  05/08/2023

  Hi ********,

  Thanks for reaching out. As I stated to you earlier today (5/8/23) in an email, I am happy to help and will do so once you provide an official statement of the account for January 2023 transactions that I can pass along to our payments team. Until we get the requested statement(s), we won't be able to move forward.

  To be clear, you have not sent a statement from your bank for your transactions in January 2023 as you stated above. We have never refused to help you, we have stated that we can't move forward until you provide the documentation requested. Your refusal to do so has put this situation on hold. We are happy and willing to help when you are ready to provide the requested documentation.

  Best,

  Mark "Merc" ******
  Head of Investor Success
  Wefunder

• Initial Complaint

  01/07/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  For months I have been trying to "link" my Wefunder account with my bank through both their required Plaid method, and by manually linking my account providing the routing and account numbers as well as the deposit verification, to no avail. The one time it allowed a deposit verification they said two small amounts would be sent but only 1 was sent therefore I could not verify my account. All other attempts have failed to connect altogether. I have been dealing with this intermittently at least since my last investment, and have stopped using the platform because of it. There's no way I'm going to keep putting money in if I can't get my unspent money out. Right now the money in my Wefunder Cash account is stuck in limbo and I cannot withdraw it. I have been in contact with Wefunder via email but their response has either been slow and unhelpful or I've simply been provided a basic copy and paste script on how to withdraw my funds without addressing the actual issue at hand. There is no phone number to call to speak with someone so I am feeling scammed. My bank is listed as an option through Plaid but the Wefunder system says there is a "connectivity" issue despite my account being linked previously without any known changes. I simply want my money out of the platform so that I can close down this account.

  Business response

  01/12/2023

  Hi there,

  We completely understand your frustation here. Unfortunately, our hands have been tied while waiting for ***** to figure out the issue. We have about 5 customers in the same boat. I did just write back a bit ago to all 5 of your offering to have you pay by credit card in the meantime and waiving your fees. There is also the option to send a wire. I'm sorry for the long wait, but we are at the mercy of Plaid and we hope to have this corrected soon as we don't like this not working either.

  Merc

  Head of Investor Success

  Wefunder, Inc.

  Customer response

  01/12/2023

   
  Complaint: 18702253
  
  I am rejecting this response because:

  the business did not at all address my issue. It is clear that Im still receiving the same cookie cutter response. If the business read my issue at all they would not have written the reply that they did. My issue is not about being able to add my credit card to make a payment, but about being able to pull my money out from their platform. Their technical issues with Plaid is not my problem and does not prevent them from mailing a physical check for my funds. And the fact that they only responded after contacting BBB further demonstrates that this is not being taken seriously. It seems like the next step *** be *** have to be legal in nature at this point.

  
  Sincerely,
  
  ***********************

  Business response

  02/01/2023

  Hi ***********************,

  We have been back and forth with Plaid and they haven't gotten us a solution for your account for some reason yet. So, in the effort to not make you wait longer, I emailed you asking for your wire details so that we can get your money back to you. I understand your frustration, but I am trying to get you taken care of. Please provide the information and we will get the money sent out to your account.

  Merc

  Head of Investor Success

  Wefunder, Inc.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩