London-based revenue management Fintech MONET, has launched in beta its revenue-based lending platform for creators, powered by embedded finance specialist Weavr.
The platform is designed for creator businesses to smooth cash flow and offers business tools to manage multi-stream income from the likes of brand deals and platform earnings, which MONET said offers the potential to drive powerful financial inclusion.
MONET’s e-money proposition is powered by embedded-finance specialist Weavr’s Plug-and-Play Finance solution, allowing users to access bank accounts and manage payments directly within the app.
According to MONET, 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 said its 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% cashback on all business spending.
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. 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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