Follower Numbers, Not Credit Score: Karat Launches Credit Card For Online Creators

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Karat, a fintech startup founded by Will Kim and Eric Wei in San Francisco, has raised more than $4.5 million to finally breathe life into an ambitious project: influencer credit card.

Thousands of podcast hosts, artists, streamers, beauty gurus and other creators continue to flourish on different online platforms these days. As their work gets monetized, their business model grows more and more successfully — but this is still an alien concept for many banks, Wei said as quoted by TechCrunch. Great revenue from a surging medical following doesn’t equal great credit score. 

When an online creator applies for Karat Black Card, the size of their audience (and the platform they operate on) matters more than their credit score. The revenue and business model, however, are also looked into. 

Right now, the card’s target customers are creators with no less than 100.000 “real” subscribers, but the developers have plans to push the limits further. 


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