FEBRUARY 20228FINTECH FIRM KARBON CARD RAISES $15 MILLION LED BY OLIVE TREE CAPITAL & OTHERSKarbon Card, a fintech company, revealed that it has raised $15 million (about Rs. 112 crore) in a funding round headed by Olive Tree Capital. The funding round also in-cluded Harmony and Avenir Growth Capital. Existing investors Ramp, Mercury and Orios Venture Part-ners also contributed, according to a statement from the business.Karbon is now in a position to become the largest player in the expense management segment, ac-cording to the statement. Karbon has raised a new round of funding less than four months after raising a $12 million pre-Series-A round in September of last year. Karbon has now raised around $32 million in to-tal capital through this round."We are delighted to close our Series-A because it means we now have the resources to build an even more compelling product and ser-vice to all our current and future customers. We now have more than 2,000 companies as happy custom-ers and are determined to grow this by many times this year", says, Kar-bon's Co-Founder Amit Jangir.Karbon Card is a business-to-business payment solution for India's financial leaders, entre-preneurs, business owners, and executives. It works with over 1500 teams across India, includ-ing award-winning firms and tech startups. Karbon Card provides up to Rs. 15 crore in free credit, no per-sonal guarantee, and free employee cards. Vendor payment on credit, 24x7 payout, bulk processing, in-voice management, and more fea-tures are all available with Karbon Payout.According to the statement, Karbon ended the year 2021 with a monthly GTV (gross transaction value) of $30 million and plans to increase the GTV to $200 million per month in 2022 as credit demand increases. BUDDING BIZZKarbon has raised a new round of funding less than four months after raising a $12 million pre-Series-A round in September of last year
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