Let your community invest to deepen stakeholder alignment and amplify word-of-mouth
Open a crowdfunding or community investment round alongside institutional fundraising. When customers become shareholders, they have financial incentive to promote and defend the product, creating a word-of-mouth flywheel stronger than any referral program.
When to use
When you have an engaged community of users or waitlist members who are passionate about your mission, and you are raising a funding round where community allocation is possible.
Don't do this
Treating fundraising as purely institutional and keeping customers at arm's length from the business side. Also: using community rounds as primary funding strategy without institutional backing.
2 Founders Who Did This
Mercury ran a $23M community round on Wefunder, allowing customers and community members to invest directly. This deepened stakeholder alignment and amplified word-of-mouth — investors became evangelists.
Raised $5M from 1,440 community investors on Wefunder in less than six hours in February 2022, with 155K waitlist and 15K beta users at the time. Returned to Wefunder in 2024 for additional community round