StartEngineReviews 195

I invested in two things on their website their stock and Phormed. I was trying to figure out a way to get my money back. I initially tried to get my money out and was told by support that I couldn't. I was just wanting to take the money out and put it in my checking account. I then tried to cancel my account since I was trying to do the above and unfortunately since it's in the stock market I can't access my funds. So I guess I will need to figure out what I want to invest in since I am unable to cash it out. So be warned that you are unable to access your funds once you invest. No live person to talk to but the support email does respond which is a good thing.

For starters, the numerous one-star reviews here don't really understand crowdfunded venture investing. Sure, companies fail -- usually about 90% of them, and you're not going to get your money back.

I'm an experienced angel/venture investor, usually investing $250k to $2m in various startups, and I've been doing this for nearly 30 years. I've had some hits, some misses, and some in-betweens. But that's not the point.

I wouldn't normally touch this kind of thing with a ten-foot pole, but a friend wanted some shares in an up-and-coming Seattle distillery, so I signed up. They had an option for investing as an "entity" (a business), and as I normally invest primarily through an LLC, I ticked that box. What a mistake. They wanted my Bylaws (uh, from 30 years ago, where are they?), several IRS forms, and other things, and they wanted them RIGHT AWAY. When I contacted them, they said they were just the middleman to a bank (who itself is a middleman).

Ultimately, the problem here is that the distillery in question is using this dubious form of (expensive) fundraising, when they should just go direct. StartEngine isn't *exactly* a scam, it's just unnecessary. If you're an inexperienced investor -- avoid it. If you're an experienced venture investor -- avoid it. Maybe there's some sweet spot in the middle that makes it worth it, but... I dunno.

They have no customer service over the phone - only an answering service that tells you to contact them by email - and then they don't respond to the emails sent to them.

If you have been burned by this scam please email me at
*******@yahoo.com
I am going to file a complaint with the FTC.
Then an attorney.

Great investment platform for investors willing to take some risk for huge returns. I have approximately 20 investments and have 300pct gain in 1 year

Its a good website but they did leave a bad taste in my mouth after they did NOT make it clear about the owners bonus. I thought the owners bonus was referring to the owner of the business I was investing in. In other words, I thought the owner was offering up a special, if you invest this amount you will get 10% more shares. Owners Bonus refers to a subscription on Start Engines website. You pay 275 smackaroos and you get 10% more shares of everything you invest in on smart engine. I like to invest in things but I wasn't prepared to pay that much for just 10% more shares. Especially when I planned to use the website once. Start Engine needs to make it more clear. I feel bad for those smaller investors, they may be turned away from investing ever again. Maybe call it something else, like StartEngine Membership? You will get less pissed off people and maybe even more customers once you make it clear *******@StartEngine Please fix!

I invested in Mr O'Leary core hold account Start Engines to see if this was something that I would make me small return of 6 to 8% After one year I lost 67% I am. not sure I can get the remaining 34% back. I was hoping that the holding company that charges large fees would be a safer risk. Thank God I invested $1,000. According to the value of my 89 stocks it is worth $325. I do even know if there are any takers at that amount. Looks like a scam to me. My other $700 has no value. Stay away unless you have money to burn

Took them 3 months to run an AML check on my LLC for trading in their secondary market. During that time they held my $ and froze those from being transferred back to the original source account. Rather interesting that when I suggested that the SEC be called in to investigate that approval came through. Oh and the toll free number for the company points people to their email address. Very kindergarten like operation. Would have 1 star except their customer service emails are polite while lacking anything useful in content.
Update: Their response was to an issue still creeping into their management of the data customers upload. 3 times a different company's IRS form was associated with my company and stalled the AML. More recently they updated their trading policies page and wanted me to enter my name to acknowledge. However their 'bots' can't seem to associate my name or the company name with the account. Took 2 weeks for them to respond to my request for help. Email is not a way to operate a help desk.

You can be subjected to 3-4% in transaction fees, then another 5% once you sell anything your investing in. Naturally you'll be taxed 15-20 percent on any gains depending on your taxable income. Just go to Fidelity.com get into a medium/ medium high investment and feel more satisfaction that your not getting hosed over by these scam artists taking advantage of those trying to do good.

StartEngine is also the largest with Q3 2021 out raising Wefunder or Republic. Ive invested in 10 separate companies. One was sold to a larger company and I was paid for my shares at 2.6x in only 8 months. Another did a stock split after 1st year 3/1 and is selling higher today in 2ndary markets. 2rd is closing in 2 days and maybe revalued between 3X or 5X based on current Sales. So extremely happy with StartEngine. Especially the low buy-ins my son also is using it. Will continue to invest Money is usually tied up for a year or more. And also advise startups to raise this way

Yeah, as most even I'm stuck in the trap. These mfs don't want to give my money and wants me to find a buyer on my own. So why the $#*! we invest with these mfs when they can't give our money back or sell the shares. Not sure how these companies are being encouraged to loot the money of the people who try make little money. I THINK WE ARE ALL LOOTED BY THESE MFs. Wish someone burns these mfs. DIE MFs. DIE

Crooks! Don't waste you're time with this scam. They pretend to be an investment company but make it impossible to get your money returned to you once it's in their control.

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They don't tell you the investment is non refundable and that you have to find another sucker to sell your shares to. They don't stand behind the investment. BUYER Beware!

I have been told that I need to provide further information regarding 2 investments.
Fine, I tried but the link in the email took me to the StartEngine website where I was told that no further information was required.
The emails kept coming so I tried emailing the *******@startengine.com email address. I've sent about 20 emails as of July 7th 2021 and have yet to receive a reply. The emails from THEM, however, are daily.
I've never encountered such atrocious customer service.

Edit: finally after sending 50＋ emails to as many addresses I could find I have been refunded.

I invested in 2 seperate companies on Startengine and cannot find info on either one anywhere. It's like they took the free money and disappeared.
SCAM!

I have participated in several different crowdfunding platforms and it is SO refreshing to participate in one that is:
1) organized!
2) communicates a step-by-step investment timeline on your portfolio page so that you know at a glance where you are in the process with each campaign
3) has customer service that responds in a timely manner to email inquiries/requests.

Start Engine also tells you upfront *before* you invest if a campaign is already oversubscribed. There are some platforms that do not, but hold your money for MONTHS after a campaign has ended before telling you that you didn't make the round due to over-subscription, which is beyond unprofessional and unacceptable. But with SE, there were two startup companies I had changed my mind on after further due diligence and I was able to request a refund before the campaign closed and got my funds back quickly. THAT IS REALLY IMPORTANT!

The ceremonial "Ownership Certificate" that Start Engine sends the investor with a CEO signed agreement is a very nice touch as well.

I give StartEngine 5 stars! They are head and shoulders above the 3 other crowdfunding platforms I have invested with in the past.

I have invested in multiple companies with Start Engine. It's easy to use and very good early high return investment opportunities.

It's a excellent place to get in at rock bottom prices I really like it. I've never had issues, you'll have to sit on your investment a while but I recommend start engine.