This guide covers all the good stuff around accessing your funds and finalizing your Wefunder round: wrapping up administrative details, finalizing investment commitments to make funds available for disbursement, finishing investor-related documents and contracts, and getting. that. money. 💸
If your round is currently live and you're looking to withdraw funds, scroll down to the section titled "What if I need some capital while the round is open?"
Your round closes on the date set in the KIIS as the deadline to reach the (minimum) target offering. If you don’t reach your minimum by the round close date, we’ll have to cancel your round and refund investors. If you do reach your minimum, congrats! We’ll start the administrative process of finalizing your round and disbursing funds to you.
You can find your round close date on your KIIS in the first section, under “Overview of the crowdfunding offer.” You can also see it on your /manage page under "Important Dates".
Wefunder allows one extension per round with a maximum round duration of 6 months. You can also choose to close your round early, though you must provide investors with a 5 business day closing notice. (We'll need notice to make this happen, so let us know at your earliest convenience if you want to close early). To make adjustments to your close date, reach out to us at email@example.com.
After your round is launched, we’ll reach out to confirm the date your round is closing and initiate next steps. If you have not yet used an extension and would like to, you can do so at this time. At this time, we’ll provide an update on:
In order for your round to be successful, you must clear your minimum target offering with available funds. It’s OK if unavailable investments become available after the campaign closes, but all commitments must be made before you close.
If you are unable to reach your minimum target offering in available funds, your round will be canceled and all investors will be notified and refunded.
Some founders choose to take advantage of a rolling close, which allows you to withdraw one tranche of available funds from your round while it remains open. To qualify, you must have at least your minimum offering amount in available funds to do so.
You can become eligible for subsequent rolling closes each time you raise another €100k, and you can request another rolling close each time. Additionally, if you've received one rolling close and have a significant amount of funds that can be sent but have yet to request a second, we might send you one proactively.
Additionally, investors with investments eligible for disbursement will be notified that you're initiating a rolling close and will have 5 business days to opt out of the tranche. We send this email out 2 weeks before your disbursement. Once the 5 business day period is over (provided you are still over your minimum in available funds) you can receive a disbursement; we run a weekly tranche schedule with disbursements happening on Fridays.