Craftom Secures $1.75 Million in Direct Private Investment

Financing enables the B2B buying platform to support its rapid growth

BREVARD, N.C., May 21, 2024 (GLOBE NEWSWIRE) -- Carofin and Carolina Financial Securities are pleased to announce they have secured $1.75 million in growth capital to support the rapid expansion of Craftom, Inc.’s B2B buying platform. Craftom is an enterprise software-powered marketplace of physical goods, software products, and enterprise services with over 1,000,000 of such products and services available in its marketplace. It provides one point of contact for Revenue, IT and HR departments to purchase products and services, saving countless hours coordinating with many different vendors.

“Craftom’s automation-focused software, robust marketplace, and fulfillment speed have created a meaningful competitive advantage for us over legacy resellers,” said Caleb Musser, the Company’s founder and C.E.O. “This short-term debt capital will enable us to expand our sales team, continue to enhance the Company's marketplace and software systems, and arrange for a replacement warehouse to meet the increasing demand for our products.”

“As hybrid/remote employees represent the new normal workforce, automation in purchasing from a platform like Craftom becomes increasingly necessary,” commented Joshua Greene, Carofin’s Vice President. “The Company’s predictable, recurring, subscription-based revenue stream made a secured promissory note structure the perfect investment vehicle for our network of current income-oriented accredited investors.”

Carolina Financial Group (CFG), Carofin’s and CFS’s parent company, is a private investment bank that structures investments and raises critical capital for small to medium-sized businesses seeking growth capital in the U.S. Carofin and CFS have raised over $1.1B since 1997 across more than 200 private transactions. For more information, visit Carofin’s website.

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Nash Roberts
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