Karbon Card, which offers corporate cards to small businesses, Wednesday said it has raised $15 million in a Series A funding round, led by Olive Tree Capital, Harmony, and AvenirGrowth Capital.
The financing also saw the participation of existing investors Ramp, Mercury, and Orios Venture Partners, the startup said in a statement.
The startup had raised $12 million in pre-series A funding from Ramp, Rainfall Ventures, Roka Works, and Y Combinator in September last year. The company’s total funding now stands at $32 million.
The company will use the funding proceeds to step up product development, hiring plans and operations as it transitions into India’s first corporate neobank this year.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced between February 6 and 9, 2022.
