Crafter

Crafter

Growth Stage

Bringing makers of every level together through the art of crafting

Bringing makers of every level together through the art of crafting

Overview

Raised to Date: Raised: $135,799

Total Commitments ($USD)

Platform

Wefunder

Start Date

04/26/2023

Close Date

06/29/2023

Min. Goal
$50,000
Max. Goal
$124,000
Min. Investment

$200

Security Type

Convertible Note

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$8,000,000

Discount

20%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

07/01/2023

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$2,122

# of Investors

165

Momentum
Funded
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Year Founded

2015

Industry

Education, Training, & Coaching

Tech Sector

CommerceTech

Distribution Model

B2B/B2C

Margin

Medium

Capital Intensity

Low

Location

SAN DIEGO, California

Business Type

Growth

Crafter, with a valuation of $8 million, is raising funds on Wefunder. The company has developed a platform to bring artists and crafters together through the art of crafting. The platform offers artisan tools, materials, and education through its kits and workshops and provides a space for artists and crafters to support, educate, and learn from one another. Crafter has launched over 100 workshops to more than 25,000 makers and has a CAGR of 39% since its launch. Morgan Spenla founded Crafter in November 2015. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $124,000. The campaign proceeds will be used for hiring additional marketing team members and a development team member, marketing, and operating expenses.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$1,849,412

$2,038,060

COGS

$1,215,793

$1,533,173

Tax

$0

$0

 

 

Net Income

$-1,188,379

$-1,735,993

Summary Balance Sheet

FY 2022 FY 2021

Cash

$776,233

$464,893

Accounts Receivable

$0

$2,956

Total Assets

$803,297

$1,320,939

Short-Term Debt

$838,676

$397,787

Long-Term Debt

$528,950

$0

Total Liabilities

$1,367,626

$397,787

Financials as of: 04/26/2023
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Crafter on Wefunder 2023
Platform: Wefunder
Security Type: Convertible Note
Valuation: $8,000,000

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