Fintech launches “world first” payment platform for creators in partnership with Weavr
London based revenue management fintech, MONET, has announced the beta launch of its revenue-based lending platform with dedicated Creator Business debit cards and accounts for creators, providing infrastructure that is a “world-first” in its field.
The platform is facilitated by embedded finance specialist Weavr, using their technology to provide business banking and payments infrastructure.
The platform for creator businesses smoothens cash-flow and offers unique business tools to manage multi-stream income from the likes of brand deals and platform earnings, offering the potential to drive powerful financial inclusion for those charging into the future of work.
The launch hails a significant step forward in supporting the creator economy with financial technology. Creator businesses can now say goodbye to chasing payments or needing to pace their creation roadmap in line with when they are paid for completed work.
Instead, MONET’s platform pays creators upfront on what they are owed from brand deals and platform earnings, pushing funds directly into the creator’s dedicated MONET current account, where they also get the benefit of 1 per cent cashback on all business spending.
Over 300 creator businesses joined the beta launch in the first month and over 7.5k creative businesses are awaiting an invite from the waitlist. MONET also provides creator marketing platforms with the opportunity to facilitate embedded cashflow finance for their users using MONET’s technology.
Jake Casson, founder of MONET, said: “There are so many highly driven and maturing businesses within the space who are either excluded or mismatched from wider SME finance and business infrastructure. On top of this, the economy has seen a wave of creation tools emerge over the last few years, but not so much in terms of revenue management.
“With the help of our partners at Weavr, we’ve been able to get to market with verticalized banking much quicker than we initially anticipated. Weavr has given us a cost-effective BaaS solution to bring MONET to life for UK creators in a safe and, regulatory compliant manner.”
Alex Mifsud, co-founder at Weavr, added: “Our aim is to empower innovators and disruptors everywhere. Embedded finance solutions are increasingly powering the digital applications we are all relying on in our lives, from transport and education, to housing and the future of work.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning London email for free.