When American Express began scaling back a niche credit card for non‑U.S. clients who keep money in American banks and brokerages, it left institutions scrambling to find a replacement for some of their most demanding customers. Now, a startup is trying to plug that gap with a WhatsApp‑run premium card that lets international travelers turn those assets into spending power.
Miami-based Karta, founded by serial entrepreneurs Freddy Juez and Orlando Espinoza, announced on Wednesday that it has raised a $15 million Series A round led by Galaxy Ventures, with new investor Illuminate and existing backers Canary and Clocktower Ventures also participating. It also announced a $125 million debt facility provided by CIM, an investment firm specializing in credit facilities.
The way it works is straightforward. A client living outside the U.S. but keeping money in an American bank or brokerage applies through a partner institution and can be approved in minutes, without needing a Social Security number or Individual Taxpayer Identification Number. Once approved, they receive a Karta card issued from the U.S. with a credit line of up to $200,000.
The client can use a virtual card immediately, with a physical Visa card arriving later, and most activity—alerts, disputes, and concierge requests—goes through a 24/7 WhatsApp chat. The card carries the typical perks of a premium Visa, including no foreign exchange fees, reward points, and access to select invite‑only events.
