BENGALURU: Fintech startup that deals in providing corporate cards to small businesses and startups said that it has raised $2 million seed funding led by angel investors from India and China, including Kunal Shah (Cred), Amrish Rau (Ex PayU) and Jitendra Gupta (Jupiter) among others.
The Bengaluru based firms said that it plans to use the funds raised for product development, operations and market expansion. “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. I myself am not just an investor but also an avid user of Karbon Card,” said Jitendra Gupta, founder of Jupiter.
Founded in 2019 by Pei-fu Hsieh and Amit Jangir, the company offers corporate cards to Indian startups with funding of at least Rs 25 Lakh. The company claimed that it services to more than 200 Indian startups that include Cred, MoEngage, Jumbotail.
“This validation along with the continued support from hundreds of other startups such as Cred, Jumbotail, MyGate, among others have been incredibly encouraging to our team, assuring us that we are on the right track,” said Amit Jangir, Co-Founder at Karbon Card.
“Karbon Card is a startup founded for all Indian startups. Our vision is to empower all startups to achieve more through a Karbon Card. We will strive to improve your cashflow with credit, help you to spend wiser and manage better through our suite of products. Let us worry about these issues while you focus on changing the world,” said Pei-fu Hsieh, Co-Founder and CEO at Karbon Card.