# Why WeFunder? (Only 10 Days Left!) | Simple Switch

- Canonical URL: https://wefunder.com/feed/161687
- Entity ID: wefunder:feed_item:161687
- Published at: 2023-03-01 19:38:55 UTC
- Updated at: 2025-07-09 03:22:59 UTC

## Author
Rachel Kois

## Subject
Simple Switch

## Content
Thanks to 110 investors, we've raised $62,350 so far! Our goal is $100,000 (10% of our total round of $1 Million) so our community can represent a significant part of our investors moving forward. Today I want to explain why we decided to do it this way, and more about how it works!WHY did Simple Switch decide to raise money on WeFunder?After a few years of bootstrapping Simple Switch and learning about our market, I realized we needed to raise some serious funding to scale our sales & impact we want to see. As I started looking into how I wanted to go about fundraising, I learned that until 2016 it was illegal to make an investment in a private company unless you were an “accredited investor.” Individuals can only become accredited investors with $1 Million in net worth, or $200,000+ in annual income. That wealth threshold means more than 90% of Americans couldn't invest in startups they believe in! YIKES! We have thousands of customers and active supporters of Simple Switch's mission and vision, and I wanted to make sure everyone in our community had the first chance to get involved as investors! Not only does this give our community the reward of a chance to grow their $ as we grow, raising on WeFunder reinvigorates our community and further engages them! This is a great signal that our demand in the market is valid, and our existing community supports our growth goals. After our community has the chance to invest we'll kick off raising the rest of the round from accredited investors like VC's and Angel Investors, so your investment shows them one more reason we're worth getting involved with!Simple Switch has raised money (through IndieGogo & KIVA Loans) before. How is this different?Hundreds of people in our community have donated money through our early crowdfunding campaigns (like the IndieGogo campaign that ended in me getting a butt tattoo of the company logo!) or lent us money through 0% interest microloan provider KIVA loans. This is different because it is equity crowdfunding. In WeFunder's own words, this means "you are not buying a product or donating to an artist. Instead, you are investing in a business with the hope of earning a return on your investment." You can find a good explainer video on Equity Crowdfunding (aka RegCF rounds) here.Can I actually make money doing this? How does it work?This is an actual legal investment, not a donation, so yes! (Or at least hopefully!) We're working hard to grow the company in a way that brings you a financial return on your investment. Startup investing is risky though, and returns can take years to convert, so please only invest what you can afford to lose.We're raising on SAFE Agreement terms, a common startup fundraising method for tech startups created by Y-Combinator. You can find some videos to learn more about what that means at these links below, and feel free to reach out with any questions!What is a SAFE Agreement (Video from WeFunder)How SAFE Agreements Work (Video from CARTA)Can accredited investors get involved in the WeFunder? And how does this work with the cap table?Yes! Here's more information on the nitty gritty legal answers, but the simple answer is that our community investors will represent just one line on the cap table through an SPV. No cap table mess or confusion.All fees are waived/covered for investments of $25,000 or more! As of today we'd only need 2 investors at this level to reach our goal, so please reach out if you're considering this. I'd love to talk with you and see if we're a good fit for your portfolio.One unexpected delight of raising on WeFunder is the vote of confidence that comes with each investment. Being a startup founder can feel lonely & difficult (there is a legitimate term for this... the "trough of sorrow" yikes!) so both the capital investment ($) and the words of encouragement have been powerful! Here's what a few of our current investors are saying, I hope you'll choose to join them!As always, reach out with any questions. I hope you'll join our investor team and help us use online shopping as a force for good!Rachel KoisCEO/FounderSimpleSwitch.org