Wefunder launches Public Impact Report as it works towards its goal of democratizing angel investment
2 March 2021, San Francisco: Wefunder, a Public Benefit Corporation aiming to fund more than 20,000 founders by 2029, is announcing the debut of its first-ever Public Impact Report that offers insights into the growing angel investment community. Founded in 2011, Wefunder now has more than 900,000 angels investing directly in the people, ideas, and causes they believe in – with investments as small as $100.
Its Public Impact Report found that over $230 million has been raised across entertainment, breweries, healthcare, education, energy, and more, which is disrupting the way early stage businesses secure capital. The report found that companies have gone on to raise over $5 billion in follow up investments post-Wefunder. It also includes a map highlighting the 45 States founders have called home and which have seen the most funding from angels.
Already more than 1,000 startups strong, the industry-leading investment company’s founders helped write the Jumpstart Our Business Startups (JOBS) Act, which legalized Regulation Crowdfunding in the United States. The company hopes to address the pitfalls of capitalism by letting customers and fans invest in the founders they truly believe in and later share in their success. The report highlights that 78% of investments are under $500, demonstrating their success in helping anyone become an angel investor.
The report also compares Venture Capital investment with Wefunder across gender, race, and location, showing that Wefunder is a leader in getting under-resourced founders access to capital. Positioning itself as a viable, attractive alternative to raising through Venture Capital is especially convincing with new rules going live on March 15 that will maximize the company’s funding power.
Nick Tommarello, Founder & CEO of Wefunder said: “We believe one of the most powerful forces in the world is when someone believes in your dream… and then backs it up by investing their own money. Guys in suits should not be the only ones deciding where all the capital goes. Instead, on Wefunder, normal people are voting with their own dollars on the future they want to see built. Our Impact Report attempts to quantify the impact this has had on America – from the lives and communities we’ve helped transform, to the products and inventions our founders have created.”
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Media contact:
Gallium Ventures