Looking to ensure the longevity of the creator economy, Accelerated Payments, the business funding solutions provider, has partnered with inflverse, a global financial management platform for creator agencies.
inflverse has been able to develop a proprietary platform using the Accelerated Payments funding solutions to change the way the creator economy is making payments. Creators utilise platforms like YouTube and Meta to cultivate authentic audiences, distributing and monetising content by partnering with brands whose target customers align with the creator’s audience.
According to Goldman Sachs Research, the creator economy now includes 50 million creators. It is poised to double in market size to $480billion by 2027. The majority of medium to large creators work with talent management agencies to manage their commercialisation. This also includes the handling of invoicing and payments.
However, liquidity issues are a growing problem for both agencies and their creators. This is due to heightened macro-economic challenges and extended payment terms. Agencies are caught in a balancing act. They must navigate between brands’ delayed payments and creators’ urgent need for access to their earnings to sustain their livelihoods.
The Visa Creator Commerce Study found 90 per cent of creators have experienced issues when getting paid presenting a significant opportunity for innovative financial products that solve the payment issue.
According to Accelerated Payments and inflverse, creators are the SMEs of the future. Therefore, the partnership is directly tackling the challenges encountered by the financially underserved creator economy.
Improving the agency-creator relationship
By integrating with Accelerated Payments’ global funding solutions, inflverse’s technology offers creator agencies end-to-end invoice management and collections. Consequently, this gives them instant access to advanced funding. In turn, agencies can compensate their creators within 24 hours of campaign completion.
Commenting on the partnership, Ian Duffy, CEO of Accelerated Payments, said: “We recognise the significance of cash flow management for creators and their agencies, especially in an industry as dynamic as the creator economy.
“Our collaboration with inflverse aims to address the unique challenges faced by creator agencies. We will offer simple, flexible, and innovative financing solutions. We are also achieving this by providing funding solutions to power inflverse invoice financing platform.”
Hugh Mooney, CEO of inflverse, expressed enthusiasm about the partnership. He stated: “At inflverse, we are committed to building a more financially sustainable creator economy. Our strategic partnership with Accelerated Payments gives us access to funding across all major creator markets. Together, we empower our agency partners to compensate their talent the very next day, whilst minimising payment risks.
“We want to address the primary challenge in the creator economy: payments. As such, this is our first step towards developing the industry’s first end-to-end creator-focused campaign management tool.
Francis Bignell
