Fintech Firm Karbon Cards Bags $2 MN From Cred, Citrus Pay Founders

Si TeamFintech Startup Karbon cards founded in 2019 by Pei-fu Hsieh and Amit Jangir offers corporate credit cards for Indian startups with funding of at least INR 25 Lakh.

The startup has received $2 Mn seed funding from its investors including Kunal Shah, Founder of Cred, Amrish Rau, Co-Founder of Ex PayU and Jitendra Gupta, Founder of Jupiter.

The Company aims to use the funding to grow its product, operations and advance its customer service.

The corporate cards come with expense management tools and

contain rewards worth up to $50K for startups.

This includes Amazon Web Services(AWS)credits, expense management software and discounts on several other platforms such as MakeMyTrip, Uber, Hubspot, Fresh works.

Karbon intends to expand its services to more startups in India by the end of the year 2020.

Startup founders can opt for credit with no personal guarantee and no fixed deposits and can issue the card within 24 hours.

Karbon Credit offers a management tool that helps the founders to understand where the company expenses are spent.

More than 200 startups in India uses the services offered by the company. The company believes that there are many startups in India that require corporate cards but are not able to get it, due to bank criteria and conditions.

Founder of Jupiter and Citrus Pay, said "I can see first hand that within a short span of a few months, Karbon Card has been embraced by many Indian startups. We see massive potential for this sector in India”.