Sanil Chawla recalls his interactions with numerous artists during his college days. These creative individuals were seeking a sustainable financial infrastructure that could support their growth without overwhelming them with paperwork and administrative tasks.

Seeing an opportunity, Chawla launched a music monetization platform in 2020. However, in response to the pandemic, he transformed the company into Slingshot, a platform that assists creatives in managing their operational needs. It even offers a corporate card to streamline financial transactions within its platform.

"Many talented creators spend excessive time navigating the complexities of being self-employed," Chawla explained. "Our mission is to utilize technology to simplify these tasks, allowing creatives to focus on their craft."

Recently, Slingshot secured a $2.2 million pre-seed funding round with support from Dorm Room Fund, 1916 Enterprises, Key Partners Group, and angel investor Vincent Francoeur, former head of web and mobile at Blizzard.

As the creator economy continues to flourish, Slingshot sets itself apart by offering centralized features and automated bookkeeping integrated with its business card. It collaborates with banks to facilitate financial transactions, empowering creatives to manage funds, make transfers, and process payments. Stripe serves as its primary BaaS partner for customer accounts through its Treasury and Issuing programs.

In addition to financial services, Slingshot enables creatives to save a portion of their revenue and access benefits like healthcare and retirement plans. The platform also handles HR functions, legal filings, and tax documentation. Chawla, now 24, shared that it took four years to secure the pre-seed funding, starting with small angel investments in 2020 and pivoting to the current model in 2023.

Initially focused on providing legal and financial support to musicians, Slingshot raised $50,000 and later $1.2 million to develop the concept. To meet evolving customer needs, the company pivoted in late 2022 towards offering a comprehensive financial product. Subsequent fundraising efforts raised an additional $1 million, positioning Slingshot for growth.

Looking ahead, Slingshot plans to raise additional funds in the upcoming year, leveraging the $2.2 million investment to expand its feature set. This includes the development of an AI assistant to revolutionize how creatives manage their operations. Chawla envisions better tools and infrastructure for the creative economy, fostering greater artistic expression and innovation. "We are still in the early stages of our journey, but I am excited about the impact we have made and the potential for even greater accomplishments ahead," he expressed.

This update corrects the spelling of Vincent Francoeur's name.