Creatively, the online professional network designed for freelancers in creative fields, has teamed with fintech firm Orum for a venture that aims to speed up the payment process for freelance workers.
Creatively Pay is designed to eliminate the wait times that can be as long as 45 days or more for freelancers to get paid for their services. Orum will work with Creatively to advance the fees to freelancers who work for companies that use Creatively’s platform for job postings. Creatively bowed in May 2020 as a startup venture backed by Stacey Bendet Eisner, CEO and creative director of the Alice + Olivia fashion brand.
Creatively CEO Gregory Gittrich and Orum founder and CEO Stephany Kirkpatrick previously worked together as part of the executive team that launched SoulCycle’s at-home business. When the two compared notes on their new startup ventures, they saw a ripe opportunity to ease some of the strain of working freelance.
“We did a survey of our members and found the No. 1 hassle for freelancers is getting paid in a timely manner for their work,” Gittrich told Variety.
Orum assumes the risk for fronting the money and verifying the payment process. The service is free for Creatively’s individual users. Monetization comes from the companies that pay Creatively monthly fees to post job availabilities on the site. To date, Gittrich said about 160,000 freelancers are using the site free of charge to showcase visual portfolios of their work. About 1,000 companies have signed on to use the platform to scout for freelance talent.
Orum’s goal is “to become to money movement what Amazon is to same-day delivery,” Kirkpatrick said.