The Three Platforms That Matter
If you're a retail investor looking to participate in equity crowdfunding in the United States, three platforms dominate the landscape: StartEngine, Republic, and WeFunder. Each has a distinct character, investor base, and deal flow. Understanding the differences will help you decide where to focus your attention.
This is not a sponsored comparison. I've invested on all three platforms and have no financial relationship with any of them.
WeFunder: The Community-First Platform
WeFunder was one of the first platforms to launch after the JOBS Act opened equity crowdfunding to retail investors in 2016. It has since become the platform with the largest volume of active raises.
What I like about WeFunder:
The community ethos is genuine. WeFunder attracts founders who are building mission-driven businesses and investors who care as much about the company's impact as its financial potential. The minimum investment is low (often $100), which makes it accessible for first-time investors. The "Wefunder Fellows" mentorship program is a genuine differentiator for founders.
What I'm cautious about:
The sheer volume of deals on WeFunder means the signal-to-noise ratio can be challenging. There are a lot of pre-revenue, pre-product companies raising on the platform, which requires more careful filtering. I rely heavily on KingsCrowd scores to cut through the noise.
Best for: Investors who want broad exposure to early-stage deals across a wide range of sectors, and who are comfortable doing their own due diligence.
Republic: The Curated Platform
Republic has positioned itself as the premium, curated option in the US market. The platform is more selective about which companies it accepts, which means fewer deals but (in theory) higher average quality.
What I like about Republic:
The curation is real. Republic's acceptance rate is lower than WeFunder's, and the average deal quality reflects that. The platform also has a more global reach, with deals from Europe and Asia alongside US companies. Republic's co-investment model — where professional VC funds sometimes invest alongside retail investors — is a meaningful signal of deal quality.
What I'm cautious about:
Republic's fees are slightly lower than StartEngine's but the platform has fewer deals than WeFunder. If you're looking for volume, Republic may frustrate you. The platform also tends to skew toward consumer-facing companies, which may not suit all investment theses.
Best for: Investors who want a curated selection of higher-quality deals and are comfortable with a smaller deal flow.
StartEngine: The Data-Driven Platform
StartEngine is the platform that most closely resembles a traditional brokerage experience. It has the most sophisticated secondary market infrastructure (StartEngine Secondary), the most advanced analytics tools, and the most institutional-grade investor base.
What I like about StartEngine:
The secondary market is a genuine differentiator. While equity crowdfunding investments are generally illiquid, StartEngine Secondary provides at least the possibility of an early exit. The platform's analytics tools are excellent, and the deal flow in hardware, consumer products, and later-stage companies is strong.
What I'm cautious about:
StartEngine's investor base skews toward accredited and data-driven investors, which can make it harder for smaller retail investors to compete for allocation in popular deals. The platform also has a higher minimum investment on some deals.
Best for: Investors who want the most sophisticated platform experience, value the secondary market option, and are interested in later-stage (Series A) deals.
The Bottom Line
| Feature | WeFunder | Republic | StartEngine |
|---|---|---|---|
| Deal Volume | High | Medium | Medium |
| Average Deal Quality | Variable | High | High |
| Minimum Investment | $100 | $100 | $100 |
| Secondary Market | Limited | Limited | Mature |
| Platform Fee (Investor) | None | None | None |
| Best Stage | Pre-Seed | Seed–Series A | Seed–Series A |
My personal approach is to use all three platforms, but with different objectives. WeFunder is where I find the most early-stage opportunities. Republic is where I look for curated, higher-quality deals. StartEngine is where I look for later-stage companies and where I pay most attention to the secondary market.
This comparison is based on my personal experience as a retail investor. Platform features and fees change regularly — always verify current terms directly with each platform.
