Posting pictures on social media is no longer a fringe side-hustle, yet there’s one big problem that takes the glamour out of influencing: getting paid. That’s where a new wave of ‘fintechs for influencers’ come in. In the past 12 months, US startups like Willa, Archie and Karat Finance have popped up to streamline freelancers’ payments, backed by big investors like EQT.
“The last year, a lot of investors have realised this space is in dire need of help,” Willa’s cofounder Kristofer Sommestad tells Sifted, explaining that Covid-19 has changed the world of work. “The big shift has been from being employed, to being a freelancer. Gen Z assumes they’ll be freelancing, they don’t want to be employed. This will be the default way of working in 10 years… Who would have thought you could be a millionaire from posting videos on YouTube.”