Karta

What Karta does

Karta is a Miami-based fintech that issues US-denominated premium credit cards to internationally mobile, high-net-worth individuals who hold assets at US financial institutions but lack a Social Security Number or ITIN. The company targets a structurally underserved segment — credit-invisible HNW non-residents — created in part when American Express scaled back its International Dollar Card program. Its card portfolio includes Visa Infinite, Visa Signature, and World Elite Mastercard variants issued through Third National and Interaudi Bank, with credit lines up to $200,000 and a $300 annual fee, and operates with no foreign transaction fees and a Priority Pass Select lounge benefit.

Underwriting is powered by an AI system that consumes verified asset data from over 80 partner financial institutions via Plaid in lieu of traditional FICO scores, with reported digital approvals in under two minutes. Card management and customer service are delivered through a 24/7 AI concierge operating inside WhatsApp, which handles flight and restaurant bookings, hotel changes, disputes, and travel claims via natural-language conversation in any language. Revenue is generated through the annual card fee, interchange on Visa/Mastercard transaction volume, and ancillary add-ons such as Buy Now Pay Later installments and additional cards for family or team members.

Karta distributes exclusively through a B2B2C channel: private banks, wealth managers, and brokerages — including Raymond James, Itaú, XP International, Interactive Brokers, and Insigneo — recommend Karta to their international clients. The company is founder-led (CEO Freddy Juez), headquartered in Miami with 1-10 employees, and has raised $140 million in total capital, comprising a $5.4M seed round led by Canary and a $15M Series A led by Galaxy Ventures paired with a $125M credit facility from Community Investment Management.

Name

Karta

Legal name

Karta Inc.

Website

https://conkarta.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

1–10 employees

Short description

Karta issues US-based premium credit cards (Visa and Mastercard) to international high-net-worth individuals who hold US assets but lack SSN/ITIN, using AI-based asset underwriting and a WhatsApp-powered AI concierge. It distributes exclusively through 80-85+ private banks, wealth managers, and brokerages including Interactive Brokers, Itaú, and Raymond James.

Ownership category

akta.pro rank

Product category

Premium Consumer Credit Cards

NAICS

Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Embedded Card Issuing & Card-as-a-Service (FSAGALAC)

akta.pro secondary industry

Co-Branded Credit Card Partnerships (Issuers/Networks) (THABAKAD)

Keywords

• Premium credit cards
• Cross-border payments
• Asset-based underwriting
• Private banking partnerships
• AI concierge services

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Annual Card Fee: Karta charges $300 annual fee for the premium metal credit card, generating recurring revenue from cardholders
2. Interchange Fees: Standard credit card interchange fees on transaction volume processed through the Visa and Mastercard networks

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Karta issues US-denominated premium metal credit cards (Visa Infinite, Visa Signature, and World Elite Mastercard variants) to global high-net-worth non-residents who hold assets in US financial institutions but lack a Social Security Number or ITIN. Credit lines up to $200,000 are underwritten by an AI engine using verified assets from partner institutions rather than FICO scores. Cards are sold via a $300 annual subscription and are paired with a 24/7 WhatsApp-based AI concierge for travel bookings, disputes, and customer service.

Product overview

Karta is a financial technology company that issues U.S.-based premium credit cards for global travelers and high-net-worth individuals who lack Social Security Numbers or ITINs. The core product is the Karta Premium Credit Card portfolio, which includes Karta Visa Infinite, Karta Visa Signature, and Karta World Elite Mastercard variants, all powered by an AI-driven WhatsApp concierge service. The product architecture combines the card products (issued by Third National on Visa or Interaudi Bank on Mastercard) with the AI concierge as a differentiating service layer. Additional offerings include Priority Pass Select membership for airport lounge access, Buy Now Pay Later installment functionality, and additional cards for family or team members. The company announced plans to launch a Corporate Visa Card platform in 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Karta Visa Infinite Card Premium Visa Infinite tier credit card issued by Third National pursuant to a Visa license; metal construction, Priority Pass Select membership with 1,300+ airport lounges, 1 point per dollar spent on flights/hotels/experiences, travel insurance, ATM withdrawals worldwide, no foreign transaction fees, and access to the WhatsApp-based AI concierge. Aimed at global HNW non-residents with US bank assets but no SSN/ITIN.
• Karta Visa Signature Card Visa Signature tier credit card issued by Third National pursuant to a Visa license, offering premium benefits including the AI concierge service, travel protections, and global acceptance on the Visa network. Available to global non-residents without SSN/ITIN.
• Karta World Elite Mastercard World Elite Mastercard tier credit card issued by Interaudi Bank (Member FDIC) pursuant to a Mastercard license; provides premium benefits and global acceptance on the Mastercard network for HNW non-residents with verified US assets but no SSN/ITIN.

Quantifiable outcome

• Fourfold quarter-over-quarter growth in total payment volumes and revenue
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core.

• Interactive BrokerscoreChannel Partner/ Reseller/ DistributorLaunched the Karta Visa card for eligible clients, enabling global purchases with no foreign transaction fees. Expands IBKR's cash management services to include comprehensive financial oversight and premium credit for global clients.
• Raymond JamescoreChannel Partner/ Reseller/ DistributorOne of approximately 85 partner institutions recommending Karta to international clients who have assets in US banks.
• ItaúcoreChannel Partner/ Reseller/ DistributorPartner institution recommending Karta to wealthy Latin American clients who have US banking relationships.
• XP International UScoreChannel Partner/ Reseller/ DistributorPartner institution recommending Karta to international clients with US investment accounts.
• Third NationalcoreOthersIssuing bank for Karta Visa Infinite and Visa Signature Cards pursuant to VISA license. Third National is the bank partner issuing Karta's consumer credit products.
• Interaudi BankcoreOthersIssuing bank for Karta World Elite Mastercard, Member FDIC, pursuant to Mastercard license.
• Plaid Inc.coreTechnology or IntegrationKarta uses Plaid to gather customer data from financial institutions for account verification and underwriting purposes.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Marqeta: Card-issuing infrastructure provider enabling fintechs to launch branded debit/credit programs via bank partners. Directly comparable as Karta operates a similar bank-rails-based model for card issuance, though Marqeta is a B2B platform while Karta is a verticalized consumer brand.
• Stripe Issuing: Embedded card-issuing API from Stripe that lets platforms create and manage card programs on bank rails. Comparable to Karta's underlying infrastructure choice and target market of fintechs/wealth platforms offering branded cards.
• Brex: Premium corporate card issuer for globally-mobile startups and businesses, with AI-driven underwriting that does not rely on FICO. Closest comparable in business model: premium metal card, AI underwriting, serving international clientele, and now expanding into consumer banking.
• Airwallex: Cross-border financial platform issuing multi-currency cards to businesses and individuals globally. Comparable as a competitor targeting internationally-mobile users with USD-denominated cards and integrated financial services, though Airwallex focuses more on SMBs than HNW individuals.
• Ramp: Corporate card and finance automation platform using AI-driven underwriting and spend management. Comparable premium positioning, AI-native underwriting (no FICO), and corporate card product overlap with Karta's planned B2B expansion.

Broad incumbents

• American Express: Global premium card network serving internationally-mobile consumers. Karta explicitly targets the gap left by AmEx scaling back its International Dollar Card business, making AmEx the most relevant incumbent benchmark and primary historical substitute.
• Capital One: Major US credit card issuer with premium travel card products (Venture X). Comparable as a broad incumbent credit card competitor; less relevant to non-residents without SSN but a benchmark for premium card economics and unit economics.
• Adyen: Global payments platform offering card-issuing services alongside acquiring. Comparable as a card-issuing infrastructure provider serving international businesses, though Adyen is more B2B-payments focused than consumer card issuance.

Emerging players

• Mercury: Digital banking platform for startups and tech companies offering USD accounts, cards, and treasury. Comparable in serving a tech-forward, international, often-underserved customer base with partner-bank infrastructure and premium digital experience.

Regional players

• Nu Holdings: Latin America's largest digital bank with credit cards serving tens of millions of customers across Brazil, Mexico, Colombia. Comparable regional focus on LatAm financial services and modern digital-first credit card experiences, though targeting mass-market rather than HNW.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/conkarta

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Karta