MONET, a Fintech revenue-based lending forum from London, is elated to announce the beta launch of its dedicated Creator Business debit cards and creator accounts, which will be the first-ever in the world to provide such a service. Weavr, a Finance specialist platform, is the partner who will provide the banking and business payments structure.
The technology aims to smoothen the cash flow by offering unique business tools which will help manage various income sources like platform earnings, brand deals, etc. which would be very inclusive.
Powered by Weaver’s unique PnP (Plug and Play) solution, MONET’s e-money enables customers to manage and interact directly with their bank accounts inside the apps ecosystem.
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With the launch of this service, the creator economy in the fintech domain will be supported and encouraged. Getting finances was the huge hurdle that now seems to have been eradicated and with this MONET entity, the money gets directly credited to the user’s current account. As a benefit, the users have also entitled to 1% cashback on all their business expenditures. MONET evaluates the value of transactions on the brand deals and platform earnings that the particular entity has attained.
The response has been huge and the creators hope to impact more lives. Just in the 1st month, they have over 300 businesses joining the beta launch and around 7.5K ingenious businesses are on the waiting list. MONET’s ecosystem has been designed such that the creator’s marketing can integrate and embed cash flow within the system. To cater to the multi-stream income sources like models, writers, musicians, streamers, course creators, gamers, etc., MONET helps by proving the right platform for all such activities.
EarlyPay, MONET’s first premium product caters to the need and enables users to generate invoices and platform income directly processed into the MONET account to secure the lending process. This enables the build-up of a finance hub-like structure of revenue for the creators. In this course, Weavr helps MONET by proving the initial setup so that it can further drive the financial goals of the user at a future stage.
Jake Casson, the 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. So we’re very proud to be offering truly useful finance and business tools that help more creators grow powerful businesses from their passions and skills.
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There is no doubt as to the growth of this economy, and the potential of the middle-class and side-hustle businesses within it. To put this into an example, we’re seeing bankers leaving high-paid jobs to create content, courses, merch, and other online businesses based on their experiences. Entrepreneurial professionals and creatives are unbundling from corporate life and we’re here to help stabilize and power up the shift – starting with cash-flow support and revenue management which is all powered by specialist banking infrastructure.”
Jake continues: “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, the co-founder at Weavr, said: “We aim 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.”
“Jake’s plans for MONET are a much-needed solution for creators to realize their earning potential, serving the increasing number of individuals making a living as creators. I am thrilled that Jake and the MONET team have chosen Weavr embedded finance toolset to build a service that helps creators succeed.”
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