#What is Karta and its Role in the FinTech Sector?
Karta is a Miami-based fintech startup that is making strides in the financial services industry by offering US Visa credit cards to individuals who lack a Social Security Number or an American credit history. The company recently secured $140 million in funding, which includes a $15 million Series A equity raise and a substantial $125 million credit facility.
#How Do Karta's Credit Cards Stand Out?
Karta provides premium Visa credit cards featuring impressive attributes such as credit lines that can reach up to $200,000, zero foreign exchange fees, and a 24/7 AI-powered concierge service available via WhatsApp. To enhance its distribution capabilities, Karta has formed partnerships with over 80 private banks and wealth managers around the globe. These collaborations enable them to reach high-net-worth individuals who travel frequently and are often turned away by major banks like Chase or Citi due to the absence of a US credit score.
#What Are Karta's Recent Financial Achievements?
In 2025, Karta experienced a remarkable tenfold increase in revenue, followed by a fourfold rise in both revenue and total payment volume quarter-over-quarter in Q1 2026. The company aims to achieve $1.2 billion in annualized total payment volume by the conclusion of 2026. This rapid growth is notable, especially considering that just eight months prior, Karta secured a $5.4 million seed round led by Canary Ventures, with participation from Clocktower Ventures and FJ Labs.
#Who Are the Key Figures Behind Karta?
Karta was co-founded by Freddy Juez, who has prior experience in the fintech landscape of Ecuador, and Orlando Espinoza, a Y Combinator alum. The startup has further strengthened its team by onboarding Fernando Dalceggio, a former executive from American Express, enhancing its leadership and operational expertise.
#What Does the Funding Structure Look Like?
The $125 million credit facility provided by Community Investment Management is a form of debt capital that supports the credit lines offered to cardholders, ensuring no equity dilution for the founders. Meanwhile, the $15 million equity component is allocated to support ongoing operations, technology enhancements, and the company’s growth objectives.
#Why is This Funding Significant?
The participation of Galaxy Ventures as a co-lead in this funding round illustrates a strategic shift towards financial infrastructure that serves a globally mobile and digitally native clientele. Karta distinguishes itself by not engaging in cryptocurrency or decentralized finance, remaining firmly entrenched within traditional financial systems. This focus on serving non-traditional clients positions Karta uniquely in the evolving FinTech landscape.