Karma Wallet
Karma Wallet is a Raleigh-based fintech that runs a data platform combining financial products with a curated sustainable-shopping marketplace of 100+ brands, serving values-driven consumers. Its ecosystem expanded in April 2024 via the acquisition of DoneGood.
- Company typePrivate
- Founded2019
- HeadquartersRaleigh, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
Karma Wallet firmographics
Firmographics- Name
- Karma Wallet
- Legal name
- Karma Wallet
- Website
- https://karmawallet.io
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Karma Wallet is a Raleigh-based fintech that runs a data platform combining financial products with a curated sustainable-shopping marketplace of 100+ brands, serving values-driven consumers. Its ecosystem expanded in April 2024 via the acquisition of DoneGood.
- Ownership category
- akta.pro rank
Karma Wallet industry classification
Industry- Product category
- Sustainable Consumer Finance
- akta.pro primary industry
- Merchant / Closed-Loop Wallets (Retail & Marketplace) (FSAMAEAF)
- akta.pro secondary industries
- Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC), General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)
Keywords
Where Karma Wallet is headquartered
LocationHeadquarters
- HQ city
- Raleigh
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Karma Wallet business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Financial Products Platform: Data platform and financial products integrated with a sustainable brand marketplace, suggesting revenue generation through financial services and potentially marketplace transactions.
Go-to-market motion1 record
Karma Wallet product offering
Product offeringCore offering
Karma Wallet operates a data platform paired with financial products that enable consumers to align their spending with social and environmental values. Following the April 2024 acquisition of DoneGood, the platform integrates a curated marketplace of more than 100 sustainable brands, giving users a unified destination for conscious shopping and impact tracking.
Differentiator
Problem solved
Functional benefit
Products and services
- Karma Wallet Platform Data platform and financial products that help individual consumers evaluate the social and environmental impact of their spending and align purchasing decisions with their values.
- DoneGood Sustainable Marketplace Curated online marketplace of over 100 sustainable and ethical brands acquired by Karma Wallet, enabling consumers to discover and purchase from vetted sustainable sellers in one place.
Companies that use Karma Wallet
Customer profileSegments1 record
Ideal customer profiles1 record
Karma Wallet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Karma Wallet partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- DoneGoodcoreKarma Wallet acquired DoneGood, a marketplace for sustainable shopping. The acquisition integrates Karma Wallet's data platform and financial products with DoneGood's marketplace of over 100 sustainable brands. This strategic acquisition expands Karma Wallet's ecosystem by combining financial tools with a curated sustainable brand marketplace.
Scale indicators1 record
Karma Wallet competitors and assessment
Company assessmentOthers
- Greenly: Greenly is a carbon accounting platform focused on businesses. It is thematically adjacent to Karma Wallet through sustainability impact measurement, though it operates B2B rather than consumer-facing.
- Watershed: Watershed is an enterprise carbon accounting and climate platform. It is an adjacent enabler rather than a direct competitor, but shares Karma Wallet's underlying theme of measuring sustainability impact of economic activity.
- EarthHero: EarthHero is an online marketplace for sustainable goods. It is directly comparable to the DoneGood marketplace inside Karma Wallet and represents the kind of curated sustainable commerce surface Karma Wallet aggregates against.
- Package Free Shop: Package Free Shop is a curated sustainable goods marketplace. It is comparable to DoneGood as a specialized sustainable commerce destination that competes for the same conscious-consumer wallet share Karma Wallet is trying to capture.
Broad incumbents
- Klarna: Klarna is a broad consumer fintech with a marketplace and wallet-style app experience. It is comparable to Karma Wallet as a benchmark for consumer fintech distribution, marketplace integration, and digital wallet UX at scale.
- Stash: Stash is a consumer investing and personal finance platform with subscription tiers. It is broadly comparable to Karma Wallet in subscription-recurring consumer fintech mechanics and product-led growth.
- Acorns: Acorns is a consumer micro-investing and personal finance app. It is a broad incumbent comparable to Karma Wallet in consumer fintech distribution and subscription-driven financial product monetization.
Direct peers
- Tomorrow: Tomorrow is a sustainable banking app that ties consumer spending to climate impact. It is comparable to Karma Wallet in targeting values-aligned consumers with banking/wallet products plus sustainability impact data.
- Aspiration: Aspiration is a consumer-facing sustainable banking and financial services platform. It is directly comparable to Karma Wallet as it combines financial products with values-aligned (sustainability-focused) branding for conscious consumers.
- Doconomy: Doconomy provides carbon footprint tracking and impact-linked financial tools to consumers and banks. It overlaps directly with Karma Wallet's positioning of impact data on top of financial decision-making for conscious consumers.
Market position
Customer concentration
Karma Wallet social profiles
Digital presenceKarma Wallet financial estimates
Financial estimateRevenue estimate
Valuation estimate
Karma Wallet leadership team
Management profileNumber of profiles
Profiles2 records
Karma Wallet subsidiaries and ownership
Company hierarchySubsidiaries1 record
Karma Wallet funding detail
Funding detailFunding overview
Funding rounds5 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Karma Wallet M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Karma Wallet
What does Karma Wallet do?
Karma Wallet operates a data platform paired with financial products that enable consumers to align their spending with social and environmental values. Following the April 2024 acquisition of DoneGood, the platform integrates a curated marketplace of more than 100 sustainable brands, giving users a unified destination for conscious shopping and impact tracking.
Is Karma Wallet a public or private company?
Karma Wallet is a private company. It is classified as venture growth investor backed and is currently operating.
When was Karma Wallet founded?
Karma Wallet was founded in 2019. It employs 11 to 50 people.
Where is Karma Wallet based?
Karma Wallet is headquartered in Raleigh, United States, in the North America region.
How does Karma Wallet make money?
One revenue line is on record: financial Products Platform.
Who are Karma Wallet's main competitors?
Others on record are Greenly, Watershed, EarthHero and Package Free Shop. Broad incumbents are Klarna, Stash and Acorns. Direct peers are Tomorrow, Aspiration and Doconomy.
Does Karma Wallet have an API?
No public API is recorded for Karma Wallet.
What industry is Karma Wallet in?
Karma Wallet's product category is Sustainable Consumer Finance. Its primary akta.pro industry code is FSAMAEAF, Merchant / Closed-Loop Wallets (Retail & Marketplace), with a secondary code of BPAMAFAC, Digital Wallet Platforms (Consumer & Merchant).