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Klinic

Removing barriers between life saving treatments and the patients who need them.

https://wefunder.com/klinic

Total raised on Wefunder: 4999000

Total investors: 4405

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Avish Bhama

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Ellen Petry Leanse

Klinic

Removing barriers between life saving treatments and the patients who need them

klinic.com New York, NY

Technology B2B Healthcare SaaS Health & Fitness

Last Funded June 2022

$4,999,000

raised from 4,405 investors

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June 15, 2022 Shame on you Avish Bhama for taking advantage of us! I just got my hard-earned funding placement bumped 6/14/22 for bigger investors!( it took over an hour of determination to get in on the funding round when I did- system was overwhelmed by us investors trying to help you out). The first bumping email I received yesterday said I wasn't in the system early enough but when I produced my time-stamped email indicating that I got in within the first several hours, then the emails from several employees all indicated that the issue wasn't with Wefunder and that Klinic decided to fix this flow issue of oversubscribing by only taking the biggest investors to fill the SEC allotment. I got the same form letter from Dylan, Madac, Siena and several just signed the "Wefunder Success Team". You came to Wefunder I assume to get the support of the little investor and a lifetime support base. If Klinic didn't make this poor, poor choice, then you are getting slimed by the Wefunder staff. I was ready to send several letters to all of your staff yesterday but I see this bumping issue has been going on before yesterday! I am a long-time small investor using several other platforms and have NEVER had this occur. You still have time to go in and honor the time-stamp of the early investors. We will be waiting to see what HONOR your company comes up with. Long-time Investors - Susan and Kevin (You may contact me directly Mr. Bhama at [email protected] with your plan on redemption for us)
I am completely shocked by your response. I can't believe that you are treating and responding to your potential investors and clients like this. You did not even try to fix anything. Yes you can do something about this, so why don't you? Look at yourself trying to convince us that when you have zero money in the bank then everyone who you can grab $100 from is good enough for you, but when you oversubscribe $5M round then it's OK to dump those that backed you up. Tell me please, how did the conversation with your regulatory counsel and Wefunder on this topic go? Did it go something like this: "Yeah, let's just keep the round open to keep the fat cats rolling in heavily to gobble the round so we don't pay much for investor administration by keeping the investor roster as small as possible, and dumping all of these $100 losers." I really don't get it how money and greed can convince people to act like this, but please don't insult my intelligence and try to convince me that this is the right and only way how to treat small individual crowdfunding investors and that there is nothing you can do about it. I would not be surprised that a person with such a poor customer service skills combined with poor business ethics could cause something way worse than this fiasco and had to spend millions on attorneys and PR agencies to get out it. I can't even imagine what would happen if I ran my business in the same manner like you are running yours. That I would set expectations that I will do something for my customers for a certain price on a certain date, and then four weeks later, I would contact them and tell them: "I am sorry I am too busy now and in order to do your job, I would have to comply with the department of labor regulations and pay my guys little bit extra in overtime pay, so I won't do the job for you at all". I don't think I will ever again invest in any of your future rounds, because to say it nicely, in my opinion you are "too saavy to do business with". Sorry I am also going to cancel our new LinkedIn connection. Good luck to you, I am sure you will need a lot of it.
Maybe Wefunder isn’t the right platform for nonaccredited crowdfund investors. For future stakeholders in Klinic this is establishing precedence. If bigger investors later come along Klinic will probably cast you aside or minimize your contribution as well. It’s really a slap in the face that they would want our small investments if they hadn’t maxed out. As for Wefunder, I may not be a big investor but I have been excited to support more than 20 raises in the past year. Now that excitement is gone, because the platform is seemingly rigged against a small investor as myself. Guess my money is not really welcome in this space and I should stick to public markets or crowdfunded real estate.
Very Unhappy! I subscribed as recommended by Jeff and now I am told Cancellation Reason: Klinic's round was oversubscribed and your investment was unable to be included as investments were included based on investment size and date the investment was made. It is not because the timing because there was lots of headroom when I got my subscribe confirmation May 18th at 10am so it has to be the amount??? I invested within the limits, so if your going to prioritize amounts, then you just should have done a Reg D and just took accredited investors. Not to mention, you wait 20+ days to let me know. No A Happy Camper! REPL: Avish - Read what you wrote as a reply below. This is your company and they provide advise, and I can not believe they would provide that advice. It is very simple: Mr Public we are offer an opportunity to invest in our company, but we reward the ones that come the latest and have the most money. Crowd Funding is not about the amount, it is about giving regular people that are passionate a chance to be a part of your company. Instead you took the accredited investor approach and we want the people with the most amount of money and don't worry about when you invest, we will wait to the end and push out those that really acted early and believed in who were passionate about our vision. Just saying Avish, bad decision and not the way to treat your passionate and loyal believers. I would say the actions just did the opposite unfortunately and alienated many of your small passionate investors based on advice that makes no sense in the crowd funding concept. Anyways, wish you guys the best in your adventures, just one small fish that is no longer passionate about the journey.
Why was my investment cancelled? I invested before it was funded at 100%. I just received email that my investment was cancelled due to larger investments knocking me out.
On May 20, I subscribed to this funding round and received an email with the subject "Your Klinic pledge is confirmed!' My bank account was charged, along with a small fee. Today, June 14, I received an email indicating that my investment had been "automatically cancelled" because "Klinic's round was oversubscribed and your investment was unable to be included as investments were included based on investment size." That's not a very good customer experience, in my humble opinion. Maybe it's a good thing, since I wouldn't want to do business with any organization that treats its stakeholders in such a manner.
I did invest $100 and I have not canceled my Investment; However I got email today saying my investment is canceled and other I am being told that, while most wefunder investments are first come, first serve, Klinic elected to be largest investors first. So I assume that means that the investment got oversubscribed, and latecomer, larger investors replaced smaller investors who subscribed immediately when the raise started? I don't think this is right.
So now I am being told that, while most wefunder investments are first come, first serve, Klinic elected to be largest investors first. So I assume that means that the investment got oversubscribed, and latecomer, larger investors replaced smaller investors who subscribed immediately when the raise started? I don't think this is right.
Any updates for investors? I just saw that you raised $24m: https://www.sec.gov/Archives/edgar/data/1926655/000192665526000004/xslFormDX08/primary_doc.xml
when are you intending to post an update?
Ellen Petry Leanse

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