Karbon

Karbon is a fintech company founded in 2019 that provides corporate payment solutions for startups and small to medium-sized businesses in India. The company offers corporate credit cards and expense management tools designed to streamline business spending and financial operations. Karbon's core product is its corporate card, which comes in three variants - Standard, Cashback, and Booster. These cards offer features such as high credit limits (up to 10 crore for the Standard card), cashback rewards (up to 1% on all transactions for the Cashback card), and no fixed deposits or personal guarantees required.

Karbon's platform integrates with accounting software and provides real-time visibility into company expenses through a centralized dashboard. This allows businesses to set spending limits, track transactions, and manage employee expenses more efficiently. In addition to credit cards, Karbon has expanded its offerings to include other financial products. In April 2022, the company launched a Payout feature to simplify salary and vendor payments. In June 2023, Karbon introduced Card++, a mobile-based expense management card that offers uncapped cashback of up to 1% on spending. More recently, in February 2024, Karbon unveiled its Corporate Prepaid Card aimed at optimizing business spending.

Key customers and partnerships

Karbon caters primarily to venture capital-funded startups and SMEs in India. The company reported serving over 2,000 startups and SMBs as customers for its corporate cards and expense management solutions. In February 2024, Karbon announced partnerships with IDFC and Yes Bank to launch 'Karbon Forex', an integrated solution for facilitating inbound and outbound remittances. This move was in response to regulatory changes regarding international transactions. Karbon aims to onboard approximately 5,000 new customers on its Card++ product by the end of 2024, indicating its focus on expanding its customer base in the corporate card and expense management space.