Karta Raises US$15 Million Series A to Expand Dollar Credit Access for Global Users

Karta has secured US$15 million in Series A funding as it seeks to address one of the most persistent challenges in global finance: access to U.S. dollar credit for individuals living outside the United States.

The company is positioning itself at the intersection of fintech, financial inclusion, and cross-border banking, with a product designed for users whose financial lives extend beyond national borders.

A Startup Born From Latin American Financial Frictions

Karta was founded by Latin American entrepreneurs Freddy Juez and Orlando Espinoza, who experienced firsthand the limitations of traditional banking systems when operating internationally.

Growing up in the region, they encountered the challenges many professionals, investors, and students face when trying to access financial products denominated in U.S. dollars. Lengthy bureaucratic processes, limited banking flexibility, and barriers to building credit histories abroad often made global financial participation more difficult.

Those experiences became the foundation of Karta’s vision. Rather than creating another premium credit card, the company set out to develop a solution tailored to individuals whose personal and professional activities span multiple countries.

“The question Karta is trying to answer is simple: what should the default credit card look like for the global citizen of Latin America?”

This regional perspective, combined with global ambitions, has shaped both the product and the company’s long-term strategy.

Series A Funding Supports International Expansion

The company recently announced a US$15 million Series A round led by Galaxy, with participation from Canary, Clocktower Ventures, and Illuminate Financial.

The investment reflects growing confidence in the idea that access to U.S. dollar credit for non-U.S. residents is a significant global opportunity rather than a niche market.

In addition to the equity financing, Karta secured a US$125 million credit facility, providing the capital structure needed to support future growth and expansion into new markets.

At the core of the company's strategy is a clear objective: helping individuals outside the United States gain access to a U.S.-issued credit card while also enabling them to build a credit history within the country.

Building a Credit Experience Through WhatsApp

Karta’s offering centers on a U.S.-issued credit card aimed initially at global users with assets in the United States, with a particular focus on Latin America and Europe.

The product combines several key features:

• Access to credit in U.S. dollars
• International acceptance
• U.S. credit history building
• Premium services powered by artificial intelligence

What differentiates the platform is its decision to operate through WhatsApp. Rather than relying on a traditional banking application, Karta uses an AI concierge that allows users to manage services through a conversational interface.

From customer inquiries and dispute resolution to reservations and benefit management, interactions take place within a platform already integrated into the daily routines of millions of users across Latin America.

This approach aligns with broader industry trends that highlight conversational technologies as an effective way to simplify financial services while creating more personalized user experiences.

Financial Inclusion Creates a Favorable Environment

The timing of Karta’s expansion coincides with significant progress in financial inclusion across Latin America.

Over the past several years, the percentage of adults with access to a formal financial account has increased substantially, driven largely by digital banking solutions and fintech innovation. Despite this progress, important gaps remain, particularly in access to credit and more advanced financial products.

These gaps represent a potential opportunity for companies capable of combining technology, risk management, and user-friendly experiences.

The Next Stage of Fintech Innovation

The next phase of financial inclusion in Latin America is increasingly focused on improving access to credit, leveraging artificial intelligence for risk assessment, and delivering financial services through simple and trusted digital experiences.

Karta’s model reflects all three of these trends. By combining traditional banking infrastructure with technology-enabled risk models and a familiar conversational interface, the company aims to become the preferred credit card solution for individuals living and operating outside the United States.

As global mobility continues to increase among professionals, entrepreneurs, and investors from Latin America, Karta is positioning itself to serve a growing segment of users whose financial needs no longer fit within the boundaries of a single country.