There are more than 50 million creators in the creator economy with 3.2 million who consider themselves full-time, pulling in six-figure incomes. As creators continue to spin online content into legitimate businesses, Karat Financial aims to position itself as an indispensable resource where they believe traditional banks haven’t been.
Karat Financial launched out of stealth last year coming from Y Combinator’s Winter 2020 batch and raised $4.6 million in seed funding from the likes of Twitch cofounder Kevin Lin, Coatue, and SignalFire. And today, the company is announcing a combined $26 million in funding that includes $11 million in Series A led by Union Square Ventures and an additional $15 million in debt financing.
In a way, this fundraising round legitimatizes Karat Financial’s mission to reframe content creators as full-fledged entrepreneurs.
“Symbolically, this is really important, because part of what we do is explaining to the financial industry what it is to be a…
Read More…
Source : fastcompany.com
Source link
