Bengaluru- and Shanghai-based fintech startup Karbon Card, which issues corporate cards to Indian startups, has raised a seed funding of $2 million from a clutch of Indian and Chinese investors, it announced on Monday.
The investors include Kunal Shah, founder and CEO of Cred, Amrish Rau, co-founder of Citrus Payments, and Jitendra Gupta, co-founder of Jupiter, the startup said in a statement.
Karbon Card will use the corpus raised for product development, operations and market expansion.
Founded in 2019 by Pei-fu Hsieh and Amit Jangir, Karbon Card offers corporate cards to Indian startups with funding of at least Rs25 lakh. The startup offers an interest-free corporate credit card that includes rewards specific to startups such as AWS credit, Uber, HubSpot, Freshworks discount, and MakeMyTrip, and also expense management software among others.
“…the banks’ position to protect their customers’ savings at all cost make their requirements and policies rigid and unfriendly to startups. We will strive to improve your cashflow with credit, help you to spend wiser and manage better through our suite of products,” Hsieh, co-founder and CEO of Karbon Card, said.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India for March 8-March 9.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|Karbon Card||Bengaluru/Shanghai||2 million||Seed||Kunal Shah, Amrish Rau, Jitendra Gupta||-||Financial Services|
|Singularity Automation Pvt Ltd||Bengaluru||1.15 million||Pre-Series A||IvyCap Ventures||-||Software/Software Services|
|StyleNook||Mumbai||-||-||Lead Angels Network & Stanford Angels & Entrepreneurs||-||E-Commerce|