Karbon Card funding, investors and company details
Karbon Card is an emerging Banking and Finance - FinTech startup from Bengaluru, working in the space of Combinator-backed platform (S21 batch) targeting Indian businesses with credit cards and payment tools. Founded by Pei Fu Hsieh, Kartik Jain, Pei-Fu Hsieh, Amit Jangir, Jianwei Jack Chen.
- Company: Interropac Private Limited
- Sector: Banking and Finance - FinTech
- Location: Bengaluru
- Founders: Pei Fu Hsieh, Kartik Jain, Pei-Fu Hsieh, Amit Jangir, Jianwei Jack Chen
- Total funding raised: ₹177.27 Cr
Company overview
Karbon Card was founded in 2019 by Pei-fu Hsieh, Amit Jangir, Kartik Jain, and Sunil Sinha (also referenced as Sunil Kumar or others like Jack Chen and Bo Li in some sources). Headquartered in Bengaluru, Karnataka, it functions as a Y Combinator-backed platform (S21 batch) targeting Indian businesses with credit cards and payment tools. The company has raised around $32 million total, including a $15 million Series A in February 2022 led by Olive Tree Capital, with participation from Harmony, Avenir Growth Capital, Ramp, Mercury, and Orios Venture Partners. The startup aims to provide hassle-free corporate credit cards without personal guarantees or fixed deposits, enabling quick access to credit up to INR 5 crore for business spends. It focuses on replacing personal cards for company use, offering expense management, prepaid options, vendor payments, forex remittances, and tailored rewards like AWS or SaaS credits. Karbon seeks to evolve into a corporate neobank, serving over 2,000 clients like PharmEasy and ixigo, with goals to scale GTV and support SMEs underserved by traditional banks
Funding rounds
- Latest round (Series A): $ 15.00 Mn (₹122.27 Cr.), 2022-09-02. Investors: Olive Tree Capital, Harmony and Avenir Growth Capital, Ramp, Mercury, Orios Venture Partners
- Past round: ₹55.00 Cr. ($ 7.09 Mn), 2022-05-17. Investors: Northern Arc Capital, UC Inclusive Credit, Oxyzo Financial Services