Karat launches a credit card for online creators
Karat is building the next generation bank for creators, becoming the Brex for the rapidly growing passion economy. Karat’s features and platform are tailor made for the unique spending habits, saving needs, and income patterns of the rising group of independent workers in the creator category. Broader tailwinds, such as lowered distribution costs and the rise of virtual influencers as well as next generation advertising and media, have and will continue to contribute to a rapid growth in the number of full time creators. Karat is the first entrant in this market with a differentiated solution catering to a massively underserved population. Founder Eric Wei is a Harvard graduate with experience at McKinsey, Instagram, Blackstone, and Facebook.