Fintech startup Karbon Card has raised $15 million in a Series A round led by Olive Tree Capital, Harmony and Avenir Growth Capital. Existing investors Ramp, Mercury and Orios Venture Partners also participated in this funding round.
Fintech startup Karbon Card was founded in 2019 by Pei-fu Hsieh, Amit Jangir, Kartik Jain, and Sunil Sinha.
“We are delighted to close our Series-A because it means we now have the resources to build an even more compelling product and service to all our current and future customers. “We now have more than 2,000 companies as happy customers and are determined to grow this by many times this year,” Karbon’s cofounder Amit Jangir said.
Karbon Card said it will put the funds from its new round to foray into the corporate neobanking space, ramp up its product development, and hire people.
Along with the current round, Karbon Card has raised $32 million in total funding, it said. Its gross transaction value in 2021 was $30 million, and the startup said it hopes to grow its GTV to $200 million per month in 2022.
Karbon is a new age corporate bank built specifically for Indian companies. They are a startup ourselves and understand the challenges of building and growing a company. They strive to serve and make the entrepreneur journey easier.