Sweater: Invest in Startups Reviews

by Gamestopbeliver

Do NOT put your bank account information into Sweater unless you’re absolutely certain you want to invest and lose access to that money. Once you put your bank account information, Sweater will automatically charge your account EVEN IF YOU DON’T CLICK CONFIRM. This is a major issue they need to address immediately, and even though I contacted customer service the second it went through, they told me they couldn’t cancel it and I would have to wait for the transaction to post on my bank account and dispute the charge. It took 5 days to post on my account, and once it did, the charge had already finalized, so I had to file an official dispute payment request that could take up to 10 days and MAY NOT EVEN WORK. Absolutely unacceptable, I know this is a startup, but I haven’t heard back about anything they’re trying to do to fix this problem or rectify my situation.

Oh and once you input your bank account information, there’s no clear way to delete it from Sweater , so who knows if they’ll charge me again in the future? Now I have to block the merchant from charging my bank account, so even if I want to invest in the future, I wouldn’t be able to.

by Justasincerereview74

It’s disgraceful that the reviews I’ve seen about this issue they reply that you get charged only if you hit confirm. BUT IT IS NOT THE CASE. I didn’t dispute anything because I was eventually going to invest in this but if you just want to go through the workflow know that your money will get taken out of your account without hitting confirm.

Other than that I love the idea of enabling us to build the future. But Sweater itself needs lots of improvements

by Tmorgan.23

Sweater shows a helpful and straightforward account overview with some good but not overbearing featured content also available to view. Sign in can be a little clunky, with a few random sign outs where Face ID wouldn’t work and an error message that wasn’t very clear. Overall, login issues aside, Sweater has only made for a better experience with what I think is already a really cool concept.

by Tomtomwin

I did not know much about Venture capital until I ran into this fund. I’m always looking for efficient ways to invest and diversify my portfolio and the this app fund breaks it down in a simple way to understand with short informational videos. They are transparent with what you are getting into and the startups that will be in the fund. Overall Sweater is simple to use and simple to input automatic reinvestments for long term goals. They do have biannual redemption windows if you want to sell of your shares keep that in mind and don’t invest money that would you need in the short term. This fund is definitely for long term investors.

by Samwell Ricardo

Great app functionality so far. Gives me my daily NAV, education on VC funding, some “disruptor” content for new up and coming companies. If you read the prospectus, the management fees include a large chunk for marketing expenses, which obviously initially I understand is needed to get the kind of reach that is needed to make this a feasible operation. But having expenses potentially over 6% of AUM concerns me long term in eating away at any returns. Hopefully as the AUM grows, these fixed cost percentages will lower and they will build in a performance structure that better aligns both portfolio manager and investor incentives.

by Govxhkvgkk

I had heard of this app a few months ago and was instantly excited about the potential of the idea. When it launched I was sure to get involved as soon as possible.

The idea is fantastic, team is great and Sweater interface is easy to understand. I have weekly reoccurring deposits set and excited to see what will happen over the coming weeks, months and years!

by Sniper564477

Big fan and supporter of this app. I loved how easy it was to invest and track which companies I’ve invested in through the fund. The recurring investment option makes this an easy set and forget, much like a 401k long-term strategy. Excited to back and learn about the next generation of venture-backed rocketships! Also, Jesse and team are great people and top-notch great investors.

by Slazar33

Love the fund. The founding members have personally messaged and called me after investment. They are extremely knowledgeable and excited about their future as a fund. Their due diligence goes above and beyond and their work ethic is unparalleled. This will eventually equate in the funds value. App very useful. Happy to have a percentage here. Thanks.

by THEgOOSE2112

So far I’ve had no issues w Sweater & have been using it quite a bit. I have no probs sending feedback and do often but haven’t had to reach out yet so I can’t speak to the level of customer service, but would be very surprised if it was less than excellent 🫣🫠😁

by RA Eagle

I found Sweater and account set up very easy.! 😀 Even family & friends have the same feedback. Really like how you can get to the website of each company they have in the portfolio. While I’m in this for the long term, like how you can check your account with ease at any time. 👏

by Riz_8

Sarah reached out to me via email. I had been seeing this app in several different feeds but did not take an in depth look right away. Both Sarah and Georgina helped me to make sure my investment was complete. Thank you to them I was able to invest. Their member experience team was great! I highly recommend this app to diversify your portfolio.

Regards,
Rizwan

by Pmcmillanut

this app has made some excellent progress on their app recently. The dashboard is easy to navigate, I can track and understand my investment history, and the videos are very informative. I’ve met with the founders and execs, and they’re very open to feedback to make improvements. As a founding member, I will continue to make investments into this app.

by Stuntdubl

This is the first and only way to get involved in venture capital today without having filthy amounts of money. They make it simple to get started and get invested. Your money is managed by this fund and they decide which companies and investments to make. The research is still on you though. Be sure you invest an amount you are comfortable losing as venture capital is still a large risk regardless of who manages your money or how it gets invested.

by Fin-Guru_

The company and app are amazing! I completely understand having some bugs in Sweater upon launch and have already seen those problems get fixed.

I’m excited to be part of the this app family and to finally be able to access venture capital.

by Talon

App Store reviews often walk the line between app reviews and company reviews…ok, in reality there’s no line-walking, and this is no exception. 5 stars because what this app is creating here is industry leading and incredibly needed. Sweater is brand new and improving all the time. It’s not much more than a minimum viable product, but it gets the job done, and the job earns a 5-star rating.

by Ajai Karthick

Before this app, I could only invest in Reg-A and Reg-cf seed rounds and had to research myself to determine the startups to invest money in. With this app, the access to top tier startups without being an accredited investor has opened paths for another investing avenue. Thanks to Jesse for creating this.

As always nothing is risk free but with a seasoned team to vet the startups, it feels a lot better than direct investments into startups.

by Areyes507

I was part of the waiting list, the this app team kept me inform of the process and even schedule open Q&A sessions. Once launched, it was easy to navigate through Sweater , set my profile and start investing.

Wrote to the support team, regarding the recurring investment capability. The team promptly responded, accepted the feedback I suggested and incorporated the change in the next release.

Love to see, how close the this app team is to their customers and genuinely trying to make it better every single time.

by MarindaCW

I've been looking for years for a way to invest in startup companies, but was always locked out but high minimum investment amounts. Finally this app offers a way for those of us without millions of dollars to invest in companies before they grow up to become publication traded. I was able to meet Jesse Randall at an event in 2021 and super excited to hear about the progress the team was making. Now it's live with SEC approval. Love it!

by BotanicalAnimalFan

Sweater certainly isn’t perfect- I’d say it was probably launched as a minimum viable product- but I think it’s awesome what they’re trying to accomplish. I think it’s worth it to deal with the half-baked app in order to be able to invest a safe amount of your portfolio in VC. Hopefully this will help level the investing playing field for lower net worth individuals.

by Dawnster2016

Super easy app to navigate. A wealth of information guiding you to make sure you understand before moving forward.
The education videos and back story or provided was instrumental in my decision to move forward.
I’ve been telling everyone that know about this app! This is what leveling the playing field for all of us means!
Highly recommend!!

by ChicagoMan1893

Love what this app has done. Generally you need to write a $250k check to be an LP in a fund. this app allows you to get in with just $500 and they open up bi-annual redemptions which is a first for venture. Usually have to wait 5-10 years until there’s a distribution. Low commitment way to dip your toe into venture - highly recommend.