About Karat
Karat is a company based in Palo Alto (United States) founded in 2019 by Will Kim and Eric Wei. It operates as a FinTech. Karat has raised $55.6 million across 5 funding rounds from investors including TriplePoint Capital, SignalFire and Union Square Ventures. Karat offers products and services including Business Banking, Business Visa Cards, and Tax Planning Tools.
- Headquarter Palo Alto, United States
- Founders Will Kim, Eric Wei
- SectorsFinancial Services
- Website category Business and Consumer Services · Business Services
- Email••••••••
- Phone•••• ••••
- Website trykarat.com
- Social LinkedIn Instagram YouTube
- Legal Name Karat Financial Technologies, Inc.
- Total Equity Funding$55.6M (USD)
in 5 rounds
- Latest Funding Round$40M (USD), Series B
Jul 2023
- InvestorsTriplePoint Capital
& 18 more
Products & Services of Karat
Karat offers a comprehensive portfolio of products and services, including Business Banking, Business Visa Cards, and Tax Planning Tools.
Business banking services are provided for creators' needs.
Physical and virtual cards are offered for businesses.
Tax saving tools are provided for creator businesses.
Apps and channels of Karat
its YouTube channel Karat has 93.5K subscribers and 30 videos.
Videos from Karat
The most watched videos on Karat's YouTube channel, Karat (93.5K subscribers). Click a video to play it here.
More on Karat.
Funding Insights of Karat
Karat has successfully raised a total of $55.6M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $40 million completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $55.6M
- Total Rounds 5
- Last Round Series B — $40M
- First Round $4.6M
(Jun 2020)
- Investors Count 19
All 5 funding rounds of Karat with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2023 | $30M | Debt – Conventional | – | – | |
| Jul 2023 | $40M | Series B | – | SignalFire | |
| Jul 2021 | $15M | Debt – Conventional | – | – | |
| Jul 2021 | $11M | Series A | – | Union Square Ventures | |
| Jun 2020 | $4.6M | Seed | – | SignalFire, Y Combinator |
19 investors in total: 10 institutional and 9 angel.
Investors in Karat
Karat has secured backing from 19 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include TriplePoint Capital, SignalFire and Union Square Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture finance services, including debt and equity, are provided to capital-backed companies globally. | – | triplepointcapital.com | - | |
Seed and early-stage startups are funded by SignalFire. | – | signalfire.com | San Francisco, United States | |
Venture capital firm focused on blockchain, wellbeing, and multiple sectors | – | usv.com | New York, United States | |
CRV is recognized as a venture capital firm investing in technology startups. | – | crv.com | Palo Alto, United States | |
Venture capital is invested in cybersecurity, fintech, and AI startups. | – | ggvc.com | Menlo Park, United States | |
Investment in retail and financial services technologies. | – | commerce.vc | - | |
Venture capital firm focused on early-stage companies | – | dreamers.vc | Calabasas, United States | |
Early-stage startups are accelerated via funding and educational programs. | – | ycombinator.com | Mountain View, United States | |
Provider of an investment platform for various stages | – | coatue.com | New York, United States | |
- | – | wendoverproductions.com | - |
Investor details for Karat
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Karat
8 people are tracked at Karat (4 in leadership, 4 in team).
| Name | Role | Group |
|---|---|---|
Will Kim | Co-Founder & Co-CEO | Leadership |
Eric Wei | Co-Founder & Co-CEO | Leadership |
Peter Seger | Head Of Banking | Leadership |
Alice Wang | Head Of Operations | Leadership |
Jacki Pennington | Operations / Card Fulfillment | Team |
Tatiana Neves | Repayments Specialist | Team |
Sharmaine B. Accountant - Bookkeeper | Accountant | Team |
Austin Pennington | Senior Support Specialist | Team |
Complete people profiles for Karat
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Karat
3 dated milestones of Karat across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Karat is founded.
- Funding First funding round of $4.6M.
- Funding Latest funding round, Series B, of $40.0M.
Web traffic of Karat
The website of Karat (trykarat.com) receives about 32.3K visits a month and ranks #686,270 among all websites worldwide, #5,471 in Business Services.
- Monthly visits32.3K
▼ 15.5% vs previous month
- Unique visitors15.2K
per month
- Global rank#686,270
among all websites
- Category rank#5,471
Business and Consumer Services · Business Services
- Bounce rate42%
- Pages per visit3.1
- Average visit1 min 07 sec
- DevicesDesktop 39% · Mobile 61%
Websites whose visitors overlap most with Karat. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| creatoreconomylive.com | 100% | 680.7K | #1,747,588 | View details | |
| karat.com | 67% | 51.8K | #746,937 | View details |
Latest news on Karat
Complete news archive for Karat
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Karat
10 companies that operate in the same segment as Karat (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 4.14 B | – | – | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | – | – | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | – | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 742 M | USD 302.19 M | 2,641 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 604.02 M | USD 179.52 M | 709 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, Netherlands | USD 35.15 M | USD 5.47 B | 1,200 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 |
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Frequently Asked Questions about Karat
Karat was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Karat is headquartered in Palo Alto, United States. It is registered at Palo Alto, California, United States.
Will Kim is the current CEO of Karat. They have also founded this company.
Karat is a funded company, having raised a total of $55.6M across 5 funding rounds to date. The company's 1st funding round was a Seed of $4.6M, raised on Jun 2020.
Karat, a financial technology company, offers banking services tailored for creators, entrepreneurs, freelancers, and influencers. Banking solutions are provided through Grasshopper Bank, N.A., with FDIC insurance for deposits. Services include high-yield checking accounts, business Visa cards, and tax planning tools. The company focuses on addressing the unique financial needs of the creator community, offering features like free wires, ACH payments, and multi-million-dollar FDIC insurance. Karat operates in the FinTech sector, aiming to deliver better banking experiences compared to traditional banks.
Karat offers Business Banking, Business Visa Cards, and Tax Planning Tools.
Karat has 19 investors. Key investors include TriplePoint Capital, SignalFire, Union Square Ventures, CRV, and GGV Capital.
Karat operates through Karat Financial Technologies, Inc..