MicroVentures vs Wefunder 2026: Where the Offerings Are, and Where the Records Are

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Both platforms arrived at the same two-channel design. A Regulation Crowdfunding book lets any investor buy into an early-stage company at low minimums, and a Regulation D side-car sells accredited investors interests in vehicles that hold the same kind of company. Wefunder runs the retail side through Wefunder Portal LLC and the side-car through Wefunds LLC, 96 series raising $60.1 million. MicroVentures runs both through its broker-dealer, with 999 single-purpose vehicles reporting $260,740,526 sold. The proportions are inverted: Wefunder's side-car is a small adjunct to a large retail book, and MicroVentures' vehicle series is roughly nine times the size of its entire crowdfunding history and is the part still filing. That inversion is the guide. It shows up in what you can buy, what it costs, and, most usefully, in whether anyone ever filed a document stating what an offering sold.

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Regulation Crowdfunding requires an issuer to file a final Form C-U progress update within five business days of its offering deadline, stating how much it sold. It is the document that puts an offering's closing amount on the public record, and the filing rates on these two platforms are not close. AltStreet measured it on the only defensible basis: offerings whose deadline has passed and which were not withdrawn, so a report is genuinely due. On MicroVentures, 144 of 195 such offerings carry a C-U stating an amount, 74%, and 169 carry any C-U at all, 87%. On Wefunder, 293 of 2,730 carry one stating an amount, 11%. That difference decides what can be said about each platform's record. MicroVentures' $28,540,887 of realized crowdfunding capital is a filing-derived number covering three quarters of its offerings, which is why this guide can state it to the dollar. Wefunder's aggregate raise claims rest on a filed deal-level record that exists for about one offering in nine; AltStreet could parse final totals for 254 closed offerings, where the median raise was $283,000 and only about 21% reached $1 million. Two cautions. Neither platform is the filer, since the obligation sits with the issuer. And a C-U states what an offering sold, not whether the investment went on to succeed, which neither platform discloses at all.

Short answer

The two platforms charge in different shapes, and for the size of raise these venues actually do, the shape decides the answer. Wefunder takes a $10,000 per-offering setup fee from the issuer and nothing from the investor on a direct Regulation CF offering. MicroVentures took a percentage: 7% of the amount raised on 50 offerings from 2016 to 2018, 5% on 81 offerings from 2020 to 2025, plus securities equal to 2% of the securities sold on 126 of 194 offerings, which at the issue price is worth roughly a further 2% of offering value. On an offering carrying both the 5% cash commission and the 2% securities interest, and the securities interest appeared on 126 of 194 offerings rather than all of them, run those against MicroVentures' median offering of $123,698 and the load is about $8,659 against Wefunder's flat $10,000. The lines cross at roughly $142,857, and above that the flat fee is the cheaper of the two, increasingly so as the raise grows. Two caveats before anyone treats this as a price list. The 2% is compensation in securities and dilution to existing holders rather than a second cash charge. And this is a comparison of historical fee structures, not a live choice: MicroVentures had no Regulation CF offering open on September 18, 2026, so a founder today is not picking between these two schedules. For the investor the comparison is simpler, because Wefunder states 0% on a direct offering and MicroVentures publishes no investor-side fee at all, in either channel.

Short answer

Both platforms put a Regulation D side-car next to a Regulation CF book, and both ran into the question that structure raises: what stops the accredited vehicle from becoming a way around the retail rules. On Wefunder that question has a regulatory answer. FINRA's May 2022 settlement covered, among five categories of violations between 2016 and 2021, 39 offerings in which investors were redirected into Regulation D in a way that circumvented Regulation CF maxima, roughly $20 million in aggregate, alongside about $290,000 of dormant escrow not transmitted and supervisory failures. Wefunder filed a corrective action statement and no subsequent enforcement has followed in the four years since. At MicroVentures the two channels instead moved in opposite directions: Regulation D activity stayed substantial, at 80 to 180 Form D filings a year, while Regulation CF activity contracted to four offerings in 2025. AltStreet is describing a filing trend, not a mechanism, and nothing in the record establishes why the mix changed. What can be said is that on both platforms the accredited product came to dominate the retail one, and that only one of the two produced a FINRA action about it.

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Nine companies raised on both platforms, and AltStreet could only identify them after repairing its own Wefunder census in September 2026, which until then stored a placeholder issuer identifier on every row. They are 20/20 GeneSystems, Zeehaus, ReGrained, Gleantap, Leaping Harts, Aladdin Scheme, SuperdopeTV, Jetoptera, and the issuer that raised on MicroVentures as Oracle Health and on Wefunder as Future Cardia. Nine out of 179 is a small overlap, and the useful thing about it is not its size but its structure: it holds the company constant and varies the venue. For anyone comparing these platforms on a specific deal, those nine are the only cases where the same business filed a Form C through both, so the terms, the instrument and the eventual filing record can be read against each other without the company itself being the variable.

Short answer

If you want to invest in a startup this month and you are not accredited, the comparison is over before it starts: Wefunder has offerings and MicroVentures has none. Read the Form C, price the valuation against the filed financials, note that a direct Wefunder offering is most often a SAFE, with no investor fee and no K-1, while the Wefunds side-car carries a 5% management fee, 10% carry and a K-1, and size every position for total loss. For a founder the arithmetic is historical rather than a live choice, because MicroVentures had no Regulation CF offering open in September 2026: below roughly $142,857 its percentage was cheaper than Wefunder's flat $10,000, above it the flat fee won, and on the 126 of 194 offerings that carried it the securities interest counted as part of the cost. For anyone holding an existing position on either platform, the task is the same and it is the reason this guide exists: find your issuer's Form C-U and Form C-AR history on EDGAR, because on one of these platforms that record usually exists and on the other it usually does not.