community round
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A Community Round allows you to let anyone—including your customers, users, community, friends, and family—invest a minimum of $100 in your company.

Your most loyal customers are your most passionate evangelists. By raising a Community Round, you can now make them investors, too—giving them a financial interest in helping your business succeed.

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Immad Akhund

Founder @ Mercury

“It makes a big difference when customers have ownership—they’re aligned with your success.”

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Amjad Masad

Founder @ Replit

“I've always found benefit from having angel investors, so why not have thousands of them?“

Why raise a Community Round?

Raising a Community Round means that when your company succeeds, your most loyal supporters succeed, too.

Grow faster. When your customers are owners, they want to help your startup succeed. They can refer new customers or partnerships, help with recruiting, and increase your luck surface area. For example, in the week following their Community Round launch, Synthesis grew their waitlist by 20% from 5000 to 6000, saw a 200% surge in job applications, and hired 92 teachers (about 25% of the teaching team).

Raise faster. With a Community Round, you call the shots on your own timeline. For example, when Immersed founder Renji Bijoy was short on runway to pay his staff and VCs were taking too long to close, he raised a $2M Community Round in 4 days, and another $7M Community Round in two weeks.

Show your community how much you value them. Community Rounds allow your community to join your journey and share the upside. For example, Mercury and Replit built their products alongside their communities from the beginning. Giving their community members ownership was a natural next step.

Community Rounds are a marker of prestige. If you can raise money from your customers, you've probably built a very good product. Most people would never invest in things they don't care about.

Market your round to the public. Unlike any other type of funding round, it’s legal to publicly promote and solicit investors for your Community Round. On the flipside, you can also open the round in private, like Levels, who first gave the investment opportunity to members, or Synthesis, who first gave the investment opportunity to its teaching staff and customers.

Build a wall of love. Every founder we’ve talked to after raising a Community Round round has shared a universal sentiment: seeing investor comments pile up in the “What People Say” section of Wefunder feels incredible.

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Gautam Gupta

General Partner @ TCV

“Fast forward 5–10 years, the way you build a brand or a movement is to allow users of your community or product to be investors and stakeholders in the business.“

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Renji Bijoy

Founder @ Immersed

“I'm super grateful that we did a Wefunder round. It allows us to partner with people who will take us to the billions of dollars in valuation someday.“

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Lucia Quan

Head of BizOps @ Mercury

“The entire company touched it in some way, moreso than a typical raise.”

Interested in raising a Community Round?

How does it work?

Regulatory reforms in March 2021 made Community Rounds easier than ever before

One line on your cap table

All your Community Round investors are wrapped in a Special Purpose Vehicle (SPV) so that there’s only one line on your cap table. In addition, all voting rights are given to one lead investor, someone you pick to represent everyone in the SPV.

Raise up to $5M

You can raise a maximum of $5 million from unaccredited investors each year through a Community Round. Prior to March 2021, the limit was $1.07 million.

Start in 15 min

You can upload your pitch deck and see if your community would be interested in investing before doing any legal work.

How it all started

We’re Wefunder, and we created this industry in 2012.

It all started with our founders getting Congress to change the laws that made it illegal for unaccredited investors to invest in pre-IPO startups.

Read our founding story in our own Community Round case study: A Decade of Community Rounds

Read Morein the Wefunder Case Study

As of July 2022, Wefunder has helped 2000+ founders raise over $500 million in Community Rounds. Over 1.5 million people have invested on Wefunder, with a median investment of $250.

Companies raising Community Rounds range from a16z-backed startups like Mercury, Levels, and Replit to small businesses across the country: a fruit and bison bar company on the Pine Ridge Reservation in South Dakota; a neighborhood restoration in Chicago’s South Side; an artificial pancreas for people with type 1 diabetes; a literal flying car company; and many, many more.

Our goal is to fund 20,000 more founders by 2029. In all 50 states. From all backgrounds. From coffee shops to supersonic planes. Backed by the people who believe in them.


Contact Us

Interested in raising a Community Round?

Fill out the form and someone from our team will be in touch!

Case Studies