Corporate cards player Karbon raises $12-M

Karbon Card, a Bangalore-based fintech startup offering corporate cards, has raised USD 12 million (INR 88.8 crore) in a round that saw participation from US-based fintech unicorn Ramp, Rainfall Ventures, Roka Works, and Y Combinator among other global investors. The capital will be used to step up product development and operations, as well as for hiring to double its staff strength to 60 over the next six months. Karbon was selected by Y Combinator for its Summer 2021 batch. It has previously raised USD 3.5 million from Orios Venture Partner and US-based 2AM VC.