Wefunder

Wefunder

Angel investing for everyone

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Security Type
Preferred Stock
Categories
Financial Services
Min Investment
$100
Location
San Francisco, CA
Offering Date
March 16, 2021
Expected Close Date
June 14, 2021
Target Raise
$1.00M-$5.00M
Deal Notes

Price per Share: $2.19

Company Description

Creating a new, riskier stock market: angel investing for the public

Key Deal Facts

$200+ million annual run rate in funding volume (GMV)
February '21 results: $982,911 revenue, 98% gross margin, $662,543 expenses, $302,723 net income
5X+ year-over-year growth in investment volume, Q4 '20 over Q4 '19
Market leader. 40%+ market share in Regulation Crowdfunding in Q4
Over $5 billion of follow-on financing into startups first funded on Wefunder
New regulatory reforms by SEC go live on 3/15/2021. We expect reforms will help us grow faster.
Created industry by helping Congress pass JOBS Act in 2012

Use of Proceeds

$1,000,000

  • 5% goes towards HoneyComb Portal filing fee,
  • 95% goes towards working capital, including hiring and general / administrative.

$5,000,000

  • 1% goes towards HoneyComb Portal filing fee,
  • 99% is intended to be used as working capital to support our plans to 2x our headcount, primarily in recruiting additional engineers, as well as support our expansion into Europe. Unforeseen events may cause us to direct our working capital into other areas of growth.

Management Team / Advisory Board Bios

Nick Tommarello
Founder & CEO
Designer, engineer, MBA, holder of Series 65, alumni of Y Combinator and Techstars. Also enjoys rock climbing, bungy jumping, and climbing mountains.

Greg Belote
Founder & CTO
Master's from MIT. Alumni of Y Combinator and Techstars. Codes in VIM with 8 windows open. Built embedded robot operating system as a hobby.

Jonny Price
Director of Fundraising
Former head of Kiva US and member of the community advisory council of the Federal Reserve. Master's from Cambridge.

Suzanna Rush
Director of Operations
Formerly led operations at Kiva U.S. Rock climber and political biography enthusiast.

Jiwon Moon
Head of XX
Grew up at Wefunder as 4th hire on founding team. Started my 20s interviewing founders making boba. Now invest in women, immigrants, scientists and builders with XX. It’s hard to have hobbies at Wefunder but I vlog now.

Benjamin Nguyen
Software Engineer
Self-taught wannabe programmer turned Wefunder programmer. I dropped out of medical school for this. Medical school dropout #1.

Jake Suggs
Account Manager
Taught youths through TFA and filed more Form C’s than all of our competitors combined. Former 3x bodyweight deadlift, current struggling rock climber. My dog is my son.

Justin Renfro
Fundraising Team
Launched the Kiva US program giving entrepreneurs their first injection of capital, started boat charter business, and ended up at Wefunder. I enjoy helping entrepreneurs. I also enjoy basketball, national parks, hot tubs, and dogs (and hot dogs).

Arie Milner
Software Engineer
I code stuff at Wefunder...

Gadi Borovich
Head of Venture Partners
I heard about Wefunder during my freshman year and knew I wanted to work here; I reached out to Nick, but he ignored me, so I hunted Nick’s house down and knocked on his door. Fast tracking, college dropout #1.

Emilio Mendoza
Software Engineer
Hacked my school's access control system to sell students better credential tags they could stick to their phones. My school wasn't too happy with this. Also, totally unrelated: college dropout #2

Olivia Li
Software Engineer
Hacked into UC Berkeley’s access control system and pretended to be a Berkeley student for 3 months. They have no idea I have done this. Also, totally unrelated: college dropout #3

Kati Conley
Fundraising Team
Wisconsin girl in a California world. Connecting people and sharing insights to ensure success for founders on and off the platform

Adolf Akuffo-Afful
Fundraising Team
Just your typical British born, West African raised American. Ecosystem builder by day, farmer by night. Ice fishing, beer brewing, camping and panda watching.

Marisa Trapani
Storyteller
Formerly, a child. Currently, a writer, dancer, and Slack emoji enthusiast. Unrelated, degree in Neuroscience from Harvard.

Elena Weissmann
Account Manager
Former journalist & pricing consultant (knows a lot about faucet pricing). Loves podcasts, running, and as of late, Vitamin C gummies.

Mark Rodli
Fundraising Team
Former CPG brand builder. I enjoy helping startups raise money and am driven by Wefunder's mission to democratize capitalism. I also once ate a burrito as my 'talent' in a male beauty pageant. I did not win.

Josh Dague
VP of Engineering
Slinging code since age eight. Startup veteran. Builds things from solder to software. Snowboard, motorcycle, and chocolate aficionado. Fun fact: at a startup many years ago, I accidentally ended up leading a motorcycle gang.

Benjamin Garcia
Fundraising Team
Perfect score on NYS Regents Exam in 9th Grade. Currently at 1 exit per 20 years alive. Related, college dropout #4.

Katie Powers
Account Manager
Studied in 3 countries & at the United Nations. Kiva alum. Started a plant-based meat company. Soccer player, hiker, and craft beer nerd.

Todd Folk
Founder in Residence
Founder/CEO of AppApp 10+ years in the hospitality industry. Serial Entrepreneur, Tobacconist, & Rum aficionado.

Mariel Rosic
Fundraising Team
Invested in student founders @DormRoomFund, tinkered with fish robots @Harvard and brain-computer interfaces @Brown, still thinks the world looks cooler upside-down"

Alex Martens Software Engineer
Master’s from Ualberta. Built a tool for construction progress tracking based on drone data. His code is deployed on various AI and Computer Vision systems

Adrian Parlow
General Counsel
J.D. from UPenn, former startups lawyer at Fenwick & West. Powder skier, slackliner, and international backpacker

Eric Lin
Community Team
Minerva Alumni, delivered Ramen, built bicycles, and likes to eat

William Sulinski
Head of Growth
Founder of Federacy (Y Combinator, pentesting platform) and Pistol Lake (Techstars, minimalist activewear). Love building software and companies with a positive impact, camping, motorcycles, and surfing poorly

Dorianne Ma
Operations Manager
Northwestern grad passionate about too many topics working to help others succeed in their passions. My bios always comes out boring because i'm a boring graduate who got into tech.

Stefan Vukanic
Software Engineer
Studied telecommunications, loves electronics and mechanics, enjoys functional programming. Passionate about crafting software that helps others. Teaching associate at Petnica Science Center.

Nemanja Stojanovic Software Engineer
Loves programming languages in theory, occasionally enjoys them in practice. Also loves kayaking, paragliding, and anything outdoors that involves moving faster than walking speed, as long as it's not running.

Lydia Smith

Deal Notes

Price per Share: $2.19

Amount Raised : $0
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Security Description

Preferred securities are a type of investment that generally offers some sort of preferred treatment through a dividend or preferred treatment in a liquidation.

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