CARTEX

Embedded Fintech Infrastructurecartex.com

CARTEX is a Dubai-headquartered embedded fintech infrastructure provider offering API-driven card issuing (Mastercard), payment gateway, and telecom (eSIM/SIM) solutions to enterprises, banks, telecom operators, and digital commerce platforms via white-label partnerships.

Company typePrivate
Founded2022
HeadquartersAthens, Greece
Headcount1–10
GTM typeB2B
OfferingSoftware

What CARTEX does

CARTEX is a private B2B embedded fintech infrastructure provider headquartered in Dubai Media City (Cartex Middle East FZ LLC), with founding roots in Athens, Greece. The company operates a unified API-driven platform spanning three product lines: card issuing (retail, virtual, business, physical, and white-label Mastercard-branded debit cards), payment gateway (crypto acquiring, crypto payouts, alternative payment methods, fiat payouts, and online acquiring), and telecom solutions (eSIM and physical SIM issuance, MVNO support, IoT/M2M connectivity). All card programs are issued on the Mastercard network with PCI-DSS-certified APIs, and the company markets a 14-day white-label deployment timeline as a core differentiator against legacy issuers.

The platform targets enterprise and mid-market clients across digital commerce platforms, banks and neobanks, telecom operators and MVNOs, crypto exchanges, and HORECA/retail verticals, delivering value through API integration, white-label partnerships, and direct enterprise sales. CARTEX monetizes via per-transaction processing fees on payment gateway services, subscription-based card program licensing with per-card fees, telecom service fees tied to SIM issuance and connectivity, and enterprise platform/API licensing. Marketing and distribution rely on direct enterprise sales and documentation-driven discovery; an API-first and OEM/embedded go-to-market is paired with an emerging enterprise field-sales motion reinforced by a COO hire from Tata Communications.

CARTEX holds PCI-DSS and GDPR compliance certifications and claims AI-powered fraud detection (anomaly detection on transactional data) plus AI-powered financial insights (predictive spend analytics) as platform features. No funding rounds, named customers, revenue figures, or ownership details are disclosed in the source data, limiting visibility into capitalization and commercial traction.

CARTEX firmographics

Firmographics

Name: CARTEX
Legal name: Cartex Middle East FZ LLC
Website: https://cartex.com
Company type: Private
Founded year: 2022
Operating status: Operating
Headcount range: 1–10 employees
Short description: CARTEX is a Dubai-headquartered embedded fintech infrastructure provider offering API-driven card issuing (Mastercard), payment gateway, and telecom (eSIM/SIM) solutions to enterprises, banks, telecom operators, and digital commerce platforms via white-label partnerships.
Ownership category
akta.pro rank

CARTEX industry classification

Industry

Product category: Embedded Fintech Infrastructure
NAICS: Credit Card Issuing (522210), Credit Card Issuing (52221)
SIC: Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
akta.pro primary industry: Card Issuing & Program Management Platforms (BPAMAFAH)
akta.pro secondary industries: Card Issuing Platforms (Issuer Processing) (FSAGABAD), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)

Keywords

Embedded fintech infrastructure
Card issuing platform
Payment processing services
Crypto payment processing
Telecom SIM solutions

Where CARTEX is headquartered

Location

Headquarters

HQ city: Athens
HQ country: Greece
HQ region: Europe

Offices1 record

Markets served

CARTEX business model

Business model

GTM type: B2B
Offering type: Software
Cost components: Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

Payment Processing & Transaction Fees: Revenue generated from transaction processing fees on payment gateway services, card acquiring, and crypto payments. Fees are charged per transaction with competitive, transparent pricing based on volume and transaction type.
Card Program Licensing: White-label card program fees for branded debit and credit card issuance, including Mastercard network access, API integration, and platform management tools. Typically subscription-based with per-card fees.
Telecom Services: eSIM and physical SIM card issuing services for mobile connectivity, including plan management, roaming solutions, and IoT connectivity services for enterprise clients.
Platform & API Access: Enterprise licensing fees for API access, compliance infrastructure, and dashboard analytics. Includes 24/7 support and dedicated account management.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

CARTEX product offering

Product offering

Core offering

CARTEX is a unified embedded fintech platform that enables businesses to launch branded card programs, process payments, and issue telecom SIMs through PCI-certified APIs. Its core offerings span three product lines: Card Issuing (white-label Mastercard retail, virtual, business, and physical debit cards), Payment Gateway (crypto acquiring, alternative payment methods, fiat payouts, and online card acquiring), and Telecom Solutions (eSIM and physical SIM issuing). The platform targets banks, ISPs, telecom operators, fintechs, and digital commerce platforms, with white-label card programs deployable in 14 days.

Product overview

CARTEX is a unified fintech platform offering three integrated product lines: Card Issuing (retail debit cards, virtual debit cards, business debit cards, physical debit cards, and white-label card programs), Payment Gateway (crypto acquiring, alternative payment methods, fiat payouts, and card acquiring), and Telecom Solutions (eSIM and physical SIM issuing). The platform is built on PCI-certified APIs and Mastercard network infrastructure, enabling businesses to launch card programs in 14 days and process payments across crypto, fiat, and alternative payment methods globally.

Differentiator

Problem solved

Functional benefit

Products and services

Card Issuing Platform A comprehensive card issuing platform enabling businesses to issue retail debit cards, virtual debit cards, business debit cards, and white-label card programs backed by Mastercard, with PCI-certified APIs and real-time management capabilities. Targeted at banks, fintechs, and digital commerce platforms seeking branded payment experiences.
Payment Gateway Advanced payment gateway infrastructure supporting crypto acquiring, alternative payment methods (APMs), fiat payouts, and acquiring services with seamless integration into billing systems, websites, and mobile apps. Built on PCI DSS-compliant infrastructure with real-time approvals, dynamic routing, and fraud prevention tools.
Telecom Solutions Comprehensive telecom services offering eSIM issuing, physical SIM issuing, and MVNO prepaid card payment support with seamless activation and global connectivity options, including global roaming solutions, IoT & M2M connectivity, and private LTE/5G network deployment for businesses and end customers.
White Label Card Program Turnkey white-label solution allowing businesses to launch completely branded debit and credit card programs with custom card designs, onboarding flows, and app theming in 14 days. Enables partners to offer retail debit, multi-currency, and prepaid card experiences under their own brand on the Mastercard network.

Quantifiable outcome

14-day card program deployment vs industry standard of months
+2 more outcomes

Companies that use CARTEX

Customer profile

Segments5 records

Ideal customer profiles4 records

CARTEX technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

CARTEX partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

MastercardcoreTechnology or IntegrationCartex operates on the Mastercard network for all card issuing programs, enabling global acceptance for retail, business, virtual, and white-label debit cards. Cards work online, in-store, and at ATMs worldwide with biometric authentication and real-time tracking support.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

CARTEX competitors and assessment

Company assessment

Direct peers

Stripe Issuing: Embedded card-issuing API from Stripe, enabling platforms to create and manage branded cards. Direct competitor in the developer-first, white-label card-issuing space, backed by Stripe's much larger ecosystem.
Wallester: White-label card-issuing and payment platform offering Visa/Mastercard-branded card programs with API-based management. Direct competitor in the same white-label, multi-currency card-issuing niche.
Treezor: European payment institution offering API-based card issuing, BIN sponsorship, and account management. Comparable as a regulated, API-first card-issuing platform targeting fintechs and corporates.
Marqeta: Leading pure-play card-issuing processor providing API-driven card issuance and program management on global networks. Closest direct competitor to Cartex's card-issuing core, operating at significantly larger scale.
Galileo Financial Technologies: API-based payments and card-issuing platform owned by SoFi, serving fintechs, banks, and corporates. Direct competitor offering comparable program management, processing, and white-label card infrastructure.

Broad incumbents

Adyen: Global payments platform offering acquiring, processing, and increasingly card-issuing capabilities. Much larger incumbent that competes in the same payment-gateway and processing layers as Cartex, though with a broader merchant focus.
Banking Circle: European payments and banking infrastructure provider serving banks, PSPs, and fintechs with accounts, payments, and card-issuing rails. Broader incumbent competing in cross-border payments and issuing infrastructure.

Emerging players

Paycore.io: Card-issuing and payment infrastructure provider focused on emerging markets with API-first card programs. Comparable in geographic focus and product scope, particularly around cross-border and multi-currency issuing.
PaymentLabs: Embedded finance platform offering card issuing, payment processing, and program management for digital-first businesses. Comparable in product breadth across issuing and payment gateway services.

Regional players

Thunes: Cross-border payments network with strong emerging-markets presence, offering payouts, acquiring, and mobile wallet integrations. Comparable for emerging-market payment orchestration and multi-currency reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

CARTEX compliance and trust

Trust signal

Compliance2 records

CARTEX financial estimates

Financial estimate

Revenue estimate

Valuation estimate

CARTEX leadership team

Management profile

Number of profiles

Profiles2 records

CARTEX funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

CARTEX M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about CARTEX

What does CARTEX do?

Is CARTEX a public or private company?

CARTEX is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was CARTEX founded?

CARTEX was founded in 2022. It employs 1 to 10 people.

Where is CARTEX based?

CARTEX is headquartered in Athens, Greece, in the Europe region.

How does CARTEX make money?

Four revenue lines are on record. Payment Processing & Transaction Fees are the primary driver. The others are card Program Licensing, telecom Services and platform & API Access.

Who are CARTEX's main competitors?

Direct peers on record are Stripe Issuing, Wallester, Treezor, Marqeta and Galileo Financial Technologies. Broad incumbents are Adyen and Banking Circle. Emerging players are Paycore.io and PaymentLabs. Thunes is listed as a regional player.

Does CARTEX have an API?

Yes. CARTEX offers PCI-certified APIs that handle compliance, risk management, and internal audits. The APIs enable card issuing, transaction processing, and real-time management of card programs including activation, spending limits, and card blocking. APIs support integration with mobile apps, billing systems, and e-commerce platforms.

What industry is CARTEX in?

CARTEX's product category is Embedded Fintech Infrastructure. Its primary akta.pro industry code is BPAMAFAH, Card Issuing & Program Management Platforms, with a secondary code of FSAGABAD, Card Issuing Platforms (Issuer Processing). Its NAICS code is 522210 and its SIC code is 6200.