Wealthtech and Fintech platform built exclusively for creators to help realize undiscovered revenue opportunities and understand their market value
LOS ANGELES, April 23, 2024 /PRNewswire-PRWeb/ -- Bump, the wealthtech and financing platform for creators, today announced that it has raised $3 million in seed funding. Investors in the round include Impact X Capital, Capitalize VC, Serac Ventures, Tristan Walker's Heirloom Ventures, Plug and Play, Symphonic Capital, Gaingels, and Mana Ventures. Existing investors include Snap Inc, H/L Ventures, Connetic Ventures and Sixty8 Capital. The investment underscores the growing recognition and support for Bump's mission to reshape the financial and wealth-building landscape for creators and their businesses. This infusion of capital will expand Bump's servicing of creators and their businesses throughout the U.S., Europe and Africa.
The capital raise comes at a formative time for both the company and the industry as the creator economy is experiencing explosive growth, with influencers and content creators becoming key players in shaping consumer behavior, driving engagement, and expanding monetization opportunities. However, navigating the financial complexities of this industry as a creator can be daunting.
Bump fills this gap by providing creators with financing options and business growth tools such as a real-time market value tool for creators to negotiate brand deals, and an income discovery feature that helps creators understand what they are owed and from whom.
"We built Bump to address the unique financial and wealth creation challenges faced by creators," said James Jones, Co-Founder and CEO of Bump. "This investment further advances our vision to empower creators and influencers with trusted financial resources they need to thrive in today's digital landscape. With this funding, we are poised to accelerate our growth and deliver even greater value to our community of creators."
Bump enables creators across YouTube, Instagram, Spotify and TikTok to discover and track all income sources and to manage their market value in order to grow their digital assets, business and wealth. The company offers the Bump Creator Credit Card, which offers creators no monthly fees, no hidden fees and no credit checks. Bump also provides direct deposit accounts (DDAs) that allow creators' royalties and payouts to be placed securely in a managed money market account so that creators can earn interest on their idle cash.
"We are excited to invest and partner with Bump to bring additional strategic resources to the table in the US and as they expand abroad," said Kimberly Davis King, Partner at ImpactX Capital Partners.
"At Capitalize VC, we invest in the rapidly growing commerce industry at the intersection of commerce enablement, commerce infrastructure, fintech and consumer brands. We're thrilled to invest in James Jones and his team at Bump as they're developing a fintech solution for creators to leverage their revenue to establish commercial credit. What excites us most about Bump is the bridge they're creating between enterprises like Mastercard and the growing creator population, which has been historically left out of the credit equation. We're looking forward to this exciting partnership," said Tessa Flippin, Partner at Capitalize VC.
"Their unique approach to addressing the financial needs of creators and influencers and eliminating the financial barriers within positions them as a pioneer in this rapidly evolving space. We believe Bump has the potential to drive significant value for both creators and investors alike."
"We are very excited about Bump and the tools they provide for millions of entrepreneurs in the creator economy. Our investment in Bump is a testament to our belief in the growth of the creator economy as a whole, but even more importantly our conviction in James Jones as a visionary leader." said Kevin Moore, Founding Partner at Serac Ventures.
About Bump
Bump is a pioneering wealthtech and financing platform designed to deliver personalized financial and wealth tools for creators. Recognizing the challenges these professionals face with traditional financial institutions, Bump aims to simplify financial management, optimize revenue streams, and drive growth for content creators. To learn more, visit https://www.usebump.com.
Media Contact
Donna Burke, Spark PR, 1 (415) 962-8200, [email protected], sparkpr.com
SOURCE Bump
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