Bengaluru-based Fintech Startup Karbon Card has recently raised growth capital from Y Combinator. The capital amount is yet undisclosed.
Karbon Card will be using the funds to give a boost to their product development process. They also have hiring plans and decided to use funds received from Y Combinator in the process.
Karbon Card has raised $3.5 million so far from investors like Orio Venture Partner and 2AM VC (US-based). They are in the process of raising more funds from various investors in the upcoming few months.
This Fintech Startup, Karbon Card was founded in 2019 by four founders, namely Pei-fu Hsieh, Amit Jangir, Sunil Sinha, and Kartik Jain.
They provide a kind of new Corporate Banking facilities. Their main focus currently is on Business credit cards and provides the best customer experience to small businesses and startups.
They provide access to credit of up to Rs 5 Crore with no fixed deposits or personal guarantees.
Karbon Cards provides cards almost similar to bank cards but has a small difference in the onboarding process, customer service, high business card credit limit to startups and SMEs without any collateral, and ease of management of cards and expenses.
Karbon Cards claims that its customer service is 10 times better than bank cards. Their process is completely online and can be completed in less than 5 minutes.
The startup claims that it has popular companies and startups like CRED, Unacademy, MyGate, Pharmeasy, Nazara, Blackbuck, and Bizongo, etc among its 1500 customers.
The startup has many competitors including Brex, Ramp, and Divvy which are providing the same Corporate cards and competing to go ahead.
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