Karbon Card, a financial platform for Indian entrepreneurs, announced it has raised $12 million in a Pre-Series A round from Unicorn Ramp, Rainfall Ventures, Roka Works, Y Combinator, and other global investors.
Founded in 2019 by Pei-fu Hsieh, Amit Jangir, Kartik Jain and Sunil Sinha, Karbon was selected by Y Combinator in the Summer 2021 batch and had earlier raised $3.5 million from Orios Venture Partner and US-based 2AM VC.
Karbon’s Co-founder and CEO, Pei-fu Hsieh said, “Excited to be partnering with Ramp, the global corporate card leader, to build the most customer centric card platform for Indian startups and SMBs with a $20 billion market opportunity at present. We are solving a major challenge faced by Indian startups and small businesses while availing corporate cards from the banks that ask for 110% deposit guarantee, personal guarantees and massive amount documentation. Karbon’s corporate cards eliminate all these hurdles and provide solutions in just five minutes.”
Karim Atiyeh, Co-founder and CTO at Ramp said, “We are impressed with what Karbon has built so far and are looking forward to seeing them deliver more value for Indian SMBs and startups.”
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.