Business ProfileforWefunder

I wanted to share my current experience with Wefunder, a crowdfunding platform, which has been quite troubling. I think it's important to express my concerns about their unfair and deceptive trade practices, as well as possible SEC compliance issues.Background information:When I decided to seek crowdfunding for my company, I turned to Wefunder for assistance, hoping they would serve as a helpful intermediary in navigating the complex world of SEC and Federal Regulations. Unfortunately, the situation has taken a confusing turn, worsened by the apparent lack of expertise of the individual overseeing our campaign, who seems to be inexperienced in this field. Matters at hand:1. Unforeseen circumstances: Wefunder has unexpectedly required us to secure $50,000 in investments before we can proceed with the necessary filing process. It feels like we're being held captive here, and it's impeding our advancement with our SEC registration.2. Practices that are misleading and dishonest: It appears that the platform is utilizing our campaign for promotional purposes without providing transparent information in their terms and conditions. The $50,000 investment requirement, which is not clearly stated in their terms, seems to function as a hidden and misleading trade practice.3. Obstacle to Progress: The lack of clarity regarding their requirements hinders my company's ability to pursue an IPO during the campaign, which could potentially violate our rights.Past efforts to find a resolution:Despite expressing concerns to Wefunder, a resolution has not been reached. The ongoing presence of our campaign on their platform adds to the intricacy of the situation.I am contacting the Better Business Bureau to look into these issues and help facilitate a fair resolution. In addition, I am considering legal options, such as pursuing action under the SEC Whistleblowers Act, due to the apparent breaches of SEC regulations.

The law requires that Wefunder perform fraud checks and due diligence on companies that raise on Wefunder. This company was informed about our rules and process for doing so - a process put in place to protect investors - and decided not to follow them. Instead, they circumvented our compliance review and named Wefunder as the intermediary hosting their fundraise. In order to best protect investors, we have chosen not to work with this company.