Karbon
Karbon is an India-focused fintech platform providing cross-border payments, multi-currency accounts, prepaid corporate cards, and an AI accounting module to Indian exporters, importers, freelancers, and SMBs engaged in international trade.
- Company typePrivate
- Founded2021
- HeadquartersBangalore, India
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Karbon does
Karbon (legally Interropac Private Limited) is an India-focused B2B fintech platform headquartered in Bengaluru that delivers cross-border payment infrastructure and corporate expense tools to Indian exporters, importers, freelancers, D2C ecommerce sellers, Amazon/Walmart resellers, and IT services exporters. Its flagship product, Karbon FX, provides virtual multi-currency business accounts in USD, GBP, EUR, and CAD, with RBI-compliant inward remittance processing, automatic e-FIRA generation within 24 hours, and INR settlement within 24-48 hours at mid-market exchange rates with markups starting at 0.1-1.0%. The platform is layered with a prepaid Karbon Corporate Card (issued via LivQuik under IDFC First Bank partnership), a domestic payouts product (Karbon PayOut), a cloud-cost optimization service (Karbon Cloud), and a suite of free utility tools (FIRA, SWIFT, Import Duty, and PayPal Fee calculators) used as top-of-funnel acquisition assets.
Underlying the payment stack is AiAccountant, an AI-powered accounting module that automates bookkeeping, invoicing, GST filings, and reconciliation through a natural-language conversational dashboard, trained on over 30 crore transaction records from 3,000+ businesses. The technology architecture combines multi-currency virtual accounts, FEMA/RBI-compliant documentation automation, and PACB-licensed partner banking rails (IDFC First Bank, BlueDOT) with an in-house AI data layer and integrations (XFlow Connected) for payment processing.
Karbon's business model is primarily transaction-based: a 1% platform fee plus 0.5-1.0% forex markup on foreign remittance, plus subscription revenue from AiAccountant and interchange/cashback economics on the corporate card. Go-to-market is product-led growth through a self-serve 10-minute digital signup, supported by content-led SEO, comparison marketing against PayPal, Stripe, Payoneer, and Razorpay, and a channel partnership program. As of 2025, the company reports 2,000+ users across the platform, 500+ paying customers on AiAccountant, 51-100 employees, and approximately $32M in equity funding plus ₹55 crore in debt financing raised between 2019 and 2022.
Karbon firmographics
Firmographics- Name
- Karbon
- Legal name
- Interropac Private Limited
- Website
- https://karboncard.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Karbon is an India-focused fintech platform providing cross-border payments, multi-currency accounts, prepaid corporate cards, and an AI accounting module to Indian exporters, importers, freelancers, and SMBs engaged in international trade.
- Ownership category
- akta.pro rank
Karbon industry classification
Industry- Product category
- Cross-border payments and corporate expense fintech
- NAICS
- Sales Financing (52222)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industry
- Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK)
Keywords
Where Karbon is headquartered
LocationHeadquarters
- HQ city
- Bangalore
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Karbon business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Forex Transaction Fees: Revenue from forex markup fees charged on inward and outward remittance transactions. Markups start at 0.5-1.0% for standard transactions, with some sources indicating 0% markup for certain products. Additional transaction fees of 1% apply.
- Corporate Card Services: Prepaid corporate cards for business expense management with cashback benefits. Cards issued through partnerships with LivQuik and IDFC First Bank.
- Platform Fee: Flat platform fee of 1% on transactions with no hidden charges, providing transparent pricing to customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard forex service with 1% transaction fee and 0.5-1.0% forex markup |
| Transaction based/ take rate | Pay-as-you-go | Receive Foreign Payment with competitive exchange rates and low fees |
| Subscription | Monthly | AiAccountant AI accounting platform with 50% month-on-month growth |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels9 records
Karbon product offering
Product offeringCore offering
Karbon Business is an India-focused fintech platform that provides cross-border foreign exchange remittance services (inward and outward), prepaid corporate cards for business expense management, and an AI-powered accounting platform (AI Accountant). It serves Indian exporters, importers, freelancers, D2C ecommerce brands, and Amazon/Walmart resellers with FEMA/RBI-compliant documentation, multi-currency virtual accounts (USD, GBP, EUR, CAD), and automated tools for GST filings, bookkeeping, and financial reconciliation.
Product overview
Karbon Business is a unified fintech platform providing a portfolio of financial services for Indian businesses engaged in international trade. The core offering combines Karbon FX for foreign remittance (receiving and sending international payments with FEMA/RBI compliance), the Karbon Corporate Card for business expense management, and AI Accountant for automated accounting. Additional tools include Karbon Cloud for cloud cost savings, Karbon PayOut for expanded banking services, and free calculator tools (FIRA, SWIFT Code Finder, Import Duty, PayPal Fee). The platform targets Indian exporters, importers, freelancers, D2C ecommerce sellers, Amazon/Walmart resellers, and IT services exporters, with a stated customer base of over 2,000 users.
Differentiator
Problem solved
Functional benefit
Products and services
- Karbon FX (Forex Remittance)
Quantifiable outcome
- Settlement to beneficiary accounts in 4-8 hours (PayOut product)
- +6 more outcomes
Companies that use Karbon
Customer profileNamed customers7 records
Segments7 records
Ideal customer profiles5 records
Karbon technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability3 records
Feature5 records
Karbon partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- LivQuik Technology (India) Private LimitedcoreRBI-authorized PPI (Prepaid Payment Instrument) issuer providing the regulatory framework for Karbon's corporate card program. LivQuik issues prepaid instruments with co-branding partner Paygrex Technologies. Cards are backed by wallets with 5-year validity.
- Interropac Private LimitedcoreCo-branding, marketing and distribution partner for Karbon Cards. Registered office at 336, Second Floor, Udyog Vihar, Phase IV, Gurugram, Haryana. Responsible for distribution, marketing and facilitating services offered through the Karbon Cards.
- Paygrex Technologies Private LimitedcoreMarketing partner for prepaid instruments issued by LivQuik. Under the co-branding arrangement, Paygrex markets LivQuik-issued cards under the Karbon brand.
- IDFC First BankcoreCard Issuer Bank for Karbon Cards. IDFC First Bank is referenced as a reliable banking partnership in the 'Why Is Karbon The Right Solution' section, providing the banking infrastructure for card issuance.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Karbon competitors and assessment
Company assessmentDirect peers
- Razorpay: India's leading full-stack fintech for SMBs offering payment gateway, business banking, and cross-border payout products. Directly comparable as an Indian SMB-focused fintech with payment, banking, and corporate card ambitions overlapping Karbon's positioning.
- Payoneer: Global cross-border payments platform for freelancers, exporters, and SMBs receiving USD/EUR/GBP. Directly comparable as Karbon explicitly positions against Payoneer for Indian freelancers and exporters receiving foreign currency.
- Open Financial Technologies: Indian SMB neobank offering business accounts, expense cards, payouts, and automated bookkeeping. Comparable as an India-focused business banking platform competing for the same SME/freelancer segment with overlapping corporate card and accounting features.
- Niyo: Indian digital banking platform offering salary accounts, prepaid cards, and travel/forex products for blue-collar and SMB workers. Comparable as an India fintech bundling multi-currency accounts and corporate expense cards for underserved customer segments.
- Skydo: India-focused cross-border payments startup serving exporters and freelancers with virtual USD accounts and FIRA-friendly remittance. Directly comparable as a YC-adjacent Indian player targeting the same exporter/freelancer FX pain points.
Broad incumbents
- Wise (TransferWise): Global cross-border money transfer and multi-currency account platform serving consumers and SMBs. Comparable as a benchmark on FX pricing transparency and multi-currency virtual accounts that Karbon must compete against for Indian exporters.
- PayPal: Global digital payments giant serving freelancers, SMBs, and exporters with cross-border receipts and PayPal-fee calculators. Comparable as Karbon explicitly targets PayPal's customers via its own PayPal fee calculator comparison-page strategy.
- Brex: US-originated corporate card and spend management platform for startups and SMBs. Comparable as a model for the corporate card + expense management + bill-pay stack that Karbon Card aspires to, though Brex operates at much larger scale.
- Ramp: US corporate card and spend management platform with bill pay and automation features for SMBs. Comparable as a benchmark for AI-augmented expense automation and corporate card issuance, though focused on US market.
Emerging players
- FamPay: Indian fintech for teens and young consumers offering prepaid cards and parental controls, now expanding into broader fintech use cases. Comparable as a younger Indian fintech moving from a niche into broader SMB/business payment services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Karbon social profiles
Digital presenceKarbon compliance and trust
Trust signalCompliance2 records
Karbon financial estimates
Financial estimateRevenue estimate
Valuation estimate
Karbon leadership team
Management profileNumber of profiles
Profiles5 records
Karbon subsidiaries and ownership
Company hierarchySubsidiaries5 records
Karbon funding detail
Funding detailFunding overview
Funding rounds7 records
Investors24 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Karbon M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Karbon
What does Karbon do?
Karbon Business is an India-focused fintech platform that provides cross-border foreign exchange remittance services (inward and outward), prepaid corporate cards for business expense management, and an AI-powered accounting platform (AI Accountant). It serves Indian exporters, importers, freelancers, D2C ecommerce brands, and Amazon/Walmart resellers with FEMA/RBI-compliant documentation, multi-currency virtual accounts (USD, GBP, EUR, CAD), and automated tools for GST filings, bookkeeping, and financial reconciliation.
Is Karbon a public or private company?
Karbon is a private company. It is classified as venture growth investor backed and is currently operating.
When was Karbon founded?
Karbon was founded in 2021. It employs 51 to 100 people.
Where is Karbon based?
Karbon is headquartered in Bangalore, India, in the Asia region.
How does Karbon make money?
Three revenue lines are on record. Forex Transaction Fees are the primary driver. The others are corporate Card Services and platform Fee.
Who are Karbon's main competitors?
Direct peers on record are Razorpay, Payoneer, Open Financial Technologies, Niyo and Skydo. Broad incumbents are Wise (TransferWise), PayPal, Brex and Ramp. FamPay is listed as an emerging player.
Does Karbon have an API?
No public API is recorded for Karbon.
What industry is Karbon in?
Karbon's product category is Cross-border payments and corporate expense fintech. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of FSAMANAK, Prepaid Card Program Managers & Issuers (BIN Sponsors). Its NAICS code is 52222 and its SIC code is 6159.