Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:05/08/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:01/07/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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 Answer

  Date: 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

  Date: 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.

• Initial Complaint

  Date:10/27/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I invested using Wefunder in a company called NYCE Temple Ii project. Neither Wefunder nor NYCE have any idea where my money is. And neither account can I access that will show me the asset I bought. I am feeling scammed!! I want to know where my money and investment are located or a full refund of my money!!

  Business Response

  Date: 10/27/2022

  Hi ******,

   

  Thanks for reaching out. I have looked in our emails to try and see where you have reached out and cannot find any communication with us since January 18, 2022. I went to the raise for NYCE Temple II and easily found your investment of $500 in their company. You used your Apple ID login when making this investment. You created the investment on February 6, 2022 and it was sent to the NYCE's Temple II on February 25, 2022. You have your contract in your portfolio (https://www.wefunder.com/portfolio), which is an SPV with Early Bird terms. Unfortunately, your funds have been disbursed to the company, and your contract is countersigned, so your investment is confirmed and we are unable to 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 cancelled. 

  If you need my help to have NYCE find it on their end, I'm happy to. You can reach out to me at *******************************.

  Best,

  Merc

  Head of Investor Success

  Wefunder, Inc.

• Initial Complaint

  Date:07/18/2022

  Type:Product Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Wefunder is telling me something different. They said the SEC filings should be completed within 2 months of closing. I got the email to prove it. I never heard the company, invested in, can deal differently with each investor. It's about 3 months and ******************* did not complete the investment. Merc said the investment is complete from Wefunder's end but on my Wefunder account the investment is still in pending status. Another company, ********** did this and their company returned their investment. I contacted Wefunder and reported that these were the only companies taking long in filing their SEC claim, which sounds unreasonable and suspicious.

  Business Response

  Date: 07/19/2022

  Hi *******,

   

  Thanks for reaching out. As stated in our discussion yesterday, the time to close a raise can vary - this is not uncommon. Also, I want to clarify that I never said we treat certain investors differently. What I stated to you was that sometimes in the closing process, we may come across issues with an investor account and our closing team has to work with that investor to get their application correct before they can close it. This can be a payment issue, the need to a Tax ID, identity verification, etc. As I also stated, your investment is already confirmed - the money has been disbursed to the company and the contract has been countersigned. At this time, a refund can not be given as you have a legal contract between you and the company. 

   

  Thanks,

   

  Merc

  Head of Investor Success

  Wefunder, Inc.

  Customer Answer

  Date: 07/19/2022

   
  Complaint: 17585152
  
  I am rejecting this response because:
  Now Merc is stating that something might be wrong with my account. He said investor's accounts that need fixing may take longer. Nobody brought this to my attention, not Wefunder or the company. I received an email from a previous Wefunder stating that the investment must be confirmed on both sides with Wefunder and my account. This is the only company that I am having a problem with. All the other companies filed Their paperwork confirming on both sides. Why Wefunder isn't seeking a response from them? I am appalled and concerned.
  Sincerely,
  
  *****************************

  Business Response

  Date: 07/22/2022

  Hi *******,

   

  I'm not sure why you think I alluded to the fact that your investment had something wrong with it. All I have said is that we are finalizing the campaign and that sometimes during this process there can be issues with investments that we are working out. This is nothing out of the normal. Again, I have told you that your investment is confirmed - we have the countersigned contract for it. It just won't show in the portfolio until they finalize the entire raise. I'm happy to send you your contract if you'd like so that you can have it prior to it showing on the portfolio. I can see you have 20 confirmed investments with us and that you have trusted our process this far. Let me know what you would like me to do.

   

  Respectfully,

   

  Merc

  Head of Investor Success

  Wefunder, Inc.

  Customer Answer

  Date: 07/29/2022

   
  Complaint: 17585152
  
  I am rejecting this response because: I have new Evidence today I went to my Wefunder account and in the Portfolio section, and under Mainstreet *******, Wefunder had written "investment Finalizes by Jun 14, 2022" yet Mainstreet ******* is still in the pending part of my account. Like I told Merc something is wrong with this company, my investment should have been finalized by June 14, 2022. And Wefunder confirmed receipt of investment and that the paperwork was going through but also Wefunder stated that when the investment is complete it will appear in my Portfolio in the complete investment section. 
  
  Sincerely,
  
  *****************************

  Customer Answer

  Date: 08/09/2022

  I would like a refund on Mainstreet Phoenix because I have evidence of suscipous activity. My Wefunder account stated their company should of confirmed my investment on June 2022 but they didn't. This was on my account since last Friday in July 2022. I would like a refund. 

  Business Response

  Date: 08/09/2022

  Hi *******,

   

  Thanks for reaching out. As stated before, your investment is already confirmed on our side. It just hasn't been updated in the portfolio yet until **************** finishes everything. Your money was sent to the company on February 11th and your contract was countersigned already. I attached that contract to the email that you sent yesterday. If you would like to cancel at this point, you would need to do so with the company and contact them directly as the legal contract is between you and the company and Wefunder cannot break the legal contract. As you know, I sent you the contact information in the email yesterday.

   

  Respectfully,

   

  Merc

  Head of Investor Success

  Wefunder, Inc.

  Customer Answer

  Date: 08/10/2022

  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,
  
  *****************************