Most financial institutions don’t cater to the hundreds of millions of content creators, despite their enormous industry which could swell to $181 billion by 2032. Karat and Visa want to change that.

Fintech Karat Financial just raised $40 million in equity financing and $30 million in debt to increase financial access for content creators, or people who make money on their videos, social feeds, or personal brands.  

The startup’s credit cards rely on social stats and financial statements instead of FICO scores to determine customers’ credit card limits, and it offers accounting tools tailored to creators as well. It’s also launching a new partnership with Visa to improve access to capital.  

“When it comes to their financial lives, creators are underserved,” according to Visa’s head of fintech, Marie-Elise Droga. “They’re running a business and have the needs of a business, yet, for the most part, they are treated as individual consumers.”    

While other FinServs target startup founders – for example, JPMorgan – Karat and Visa hope that they can carve out a lucrative market by catering to this growing segment.  

As Will Kim, Karat cofounder, put it: “Creators are eating the world, and Karat is in a great position to be the financial system that powers them.”