A New Card Ties Your Credit to Your Social Media Stats
Founded by Instagram and finance alums, Karat wants to be the black card in every influencer’s wallet. Karat’s first product is the Karat Black Card, designed specifically for influencers. Its perks can be customized (gamers get cash back on streaming services; beauty influencers get perks for product purchases), and the credit limits are determined by an influencer’s social metrics, revenue streams, and cash in hand. To issue the cards, Karat has partnered with the payments company Stripe, which launched its own corporate card late last year. For now, Karat wants to be the flashy card in every influencer’s wallet. But eventually, the startup could become a one-stop shop for a creator’s business needs.