Talenthouse to partner with and invest up to $7mn in cash and shares in US-based digital SME banking provider, Nerve.
In brief:
TalentPlus is Talenthouse’s financial services vertical, providing Creators with financial services solutions to support their creative endeavours.
US-based Nerve is an embedded banking solution for US businesses in the creator economy.
TalentPlus plans to build out its business banking solution in the US market with BETA launching in late-November, followed by a UK, LATAM launch in early 2023. Furthermore, it plans to launch personal banking in early 2023.
What does this mean?
TalentPlus, Talenthouse’s one-stop-financial app built for Creators, has partnered with and Talenthouse will invest up to $7 million in cash and shares in Nerve, an embedded banking solution for the US creator economy. This is the first time Nerve will be providing their embedded banking proposition on a private-label basis.
Through this investment and partnership, TalentPlus plans to launch in the US in late-November and move into several markets in 2023 including the UK and Latin America to lessen the financial burdens of Creators. Furthermore, TalentPlus plans to add personal banking services to its offering in 2023 across all markets to benefit the Creator Economy.
The Creator Economy is not limited to social media influencers and YouTubers – it is a global phenomenon of working creative professionals. Adobe estimates (August 2022) that less than 15% of the 303 million creators across nine key markets that were surveyed are influencers. The sector is estimated to be worth in excess of $2.8 trillion and is heavily driven by digital advertising needs.
The TalentPlus solution comes at a time where Creators, now more than ever, want to merge their passion with their profession and monetise their skills. TalentPlus will merge local and global financial service offerings seamlessly, taking advantage of Open Banking solutions where available to best service the rapidly evolving Creator Economy
