This piece was originally featured on the Wefunder blog on September 28, 2018.
I’m proud to announce that Wefunder is now a Certified B Corp!
We’re the first equity crowdfunding platform to join the movement of over 2,650 companies around the world harnessing business as a force for good.
Why did we become a B Corp?
In November 2016, we became a Public Benefit Corporation to give us the legal standing to pursue goals that relate to our mission in addition to pursuing profit. We live and die by our Charter, and can be sued if we don’t abide.
Becoming a Certified B Corporation builds on our legal commitment to doing good. It’s akin to a Fair Trade certification for coffee or LEED certification for buildings. B Corps meet high standards of social and environmental performance, transparency, and accountability. We’re honored to be a part of the B Corp community, and join other purpose-driven organizations like Patagonia, Kickstarter, and Ben & Jerry’s in creating benefit for all stakeholders, not just shareholders.
Our mission remains the same: increase economic growth, increase social mobility, and reduce wealth disparity. So far, we have raised $68M for 203+ companies from 180,000+ investors, with $1.5B in follow-on financing. Our portfolio includes eight PBCs and B Corps that raised over $4M on Wefunder, including Beta Bionics who recently raised a $50M Series B.
With the launch of Funds, we’re figuring out ways to help earlier-stage founders and spur long-term investments in marginalized communities around the country. Our first Funds are for women, immigrants, moonshots, and two areas historically overlooked by venture money, Detroit and Puerto Rico.
However, we still have a long way to go.
As the largest regulation crowdfunding platform, we are in a unique position to have a greater impact. By partnering with many more PBCs, B Corps, and impact-driven companies, we hope to give investors more opportunities to invest in the change they want to see in the world and fund companies whose growth will lead to more positive outcomes for local economies, communities, and the environment. Thanks for being part of our journey
Wallstreet has Morningstar, S&P, and Bloomberg
The equity crowdfunding market has KingsCrowd.
About: Jenna Perelman
Storyteller at Wefunder that has focused her career on facilitating strangers to join a movement and use their collective voice to have an outsized impact on the world.