Karat is an all‑in‑one business banking platform for creators, influencers, and digital entrepreneurs. It offers high‑yield checking accounts with sub‑accounts, a credit card that bases limits on social performance, AI‑driven bookkeeping, invoicing, and bulk domestic and international payouts with automated tax and 1099 handling, all accessible via a mobile dashboard.
Funding
$40M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
1OFounders
Product
Problem
Creators, influencers, and digital entrepreneurs often lack financial tools that accommodate irregular income streams, international payments, and the need for credit based on social media performance rather than traditional credit scores. Traditional business banking services also require minimum balances and do not integrate invoicing, bookkeeping, or mass payout capabilities needed for creator economies.
Solution
Karat offers an all-in-one business banking platform tailored to the creator economy. It provides high‑yield checking accounts with FDIC‑insured deposits, no minimum balances, and sub‑accounts for expense categorization. The Karat Visa® Business Credit Card extends credit limits based on a creator’s social reach and revenue, with no foreign transaction fees. Integrated AI bookkeeping automatically categorizes transactions and generates real‑time profit‑and‑loss reports. Users can create, send, and track invoices, and execute bulk domestic and international payments with automated tax collection and 1099 generation. All features are accessible via a mobile app, enabling creators to manage finances, earn interest, and scale operations from a single dashboard.
Target Audience
Primary customers are content creators, influencer agencies, and digital entrepreneurs who need streamlined banking, credit, and financial management tools to support their creator‑driven businesses.
Features
- High‑yield business checking with up to 5 sub‑accounts and millions in FDIC insurance, no minimum balance
- Credit card with custom rewards, personalized design, and credit limits determined by social media performance rather than credit score
- AI‑driven bookkeeping that auto‑categorizes transactions and provides real‑time P&L and financial reports
- Invoicing tool that creates, sends, and tracks invoices, routing payments directly to the checking account via ACH or wire
- Mass payment capability for bulk payouts to talent, contractors, and partners, including automated tax collection and 1099 generation for domestic and international transfers
- No foreign transaction fees and competitive APY on checking and tax‑savings accounts, with a free tier and optional premium upgrade
- Integrated dashboard for monitoring cash flow, interest earnings, and credit utilization in one place