Eric Wei - Creating A Bank For The Creator Economy With Karat Financial

On today's episode I sit down with Eric Wei, co-founder and CEO of Karat. 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. Wei, a former product manager at Instagram, started Karat with Will Kim, a former analyst for Goldman Sachs, as a way of giving content creators the financial resources they found traditional banks were denying them. Their inaugural product, the Karat Black Card, approves applicants based on their income and social-media followers rather than Fico scores. Also, the Karat Black Card’s rewards system offers customizable cash-back options based on a creator’s industry. Learn more about Karat: https://trykarat.com Follow Eric on Instagram: https://www.instagram.com/erictway/ Learn more about your ad choices. Visit podcastchoices.com/adchoices