Karta, a U.S.-issued credit card designed for global travelers with a 24/7 AI concierge service, engaged in a fundraise of $140 million, including a $15 million Series A and a $125 million credit facility. The Series A round was led by Galaxy Ventures, with participation from new investors such as Illuminate and existing investors such as Canary and Clocktower Ventures. The $125 million debt facility was provided by CIM.
The new capital in this round will fuel Karta’s product roadmap on three fronts: to launch an elevated tier card for the most demanding clients, to introduce a corporate card and payment platform and to continue reinventing the global travel concierge experience.
“In the last several months, we’ve seen explosive growth,” Freddy Juez, co-founder of Karta, said. “We set out to build the ultimate tech-forward credit card for the global traveler, and are thrilled to see the rapid increase in private banks working with us to offer this card to clients. We also appreciate the support of our partners and investors who will help Karta expand our reach and AI offering that makes travel and spending convenient and frictionless for users.”
Mike Giampapa, general partner of Galaxy Ventures, added, “Karta’s unique product offering has quickly earned the trust of dozens of the world’s largest financial institutions. The company has built an efficient distribution model targeting a high-value and engaged customer base, a combination that creates the foundation for a strong business.”
