Galaxy Ventures has co-led a $140 million funding round for Karta, a Miami-based fintech startup that issues US Visa credit cards to people who don’t have a Social Security Number or American credit history. The round, announced June 17, combines a $15 million Series A equity raise with a $125 million credit facility from Community Investment Management.
The company offers premium US-issued Visa credit cards with credit lines up to $200,000, zero foreign exchange fees, and an AI-powered concierge service that runs 24/7 through WhatsApp. Rather than building its own distribution from zero, Karta has partnered with over 80 private banks and wealth managers globally. Those partnerships give the company a direct pipeline to high-net-worth individuals who travel frequently, spend heavily, and get turned away by Chase or Citi because they don’t have a US credit score.
Karta achieved a 10x increase in revenue during 2025, then followed that with a 4x jump in both revenue and total payment volume quarter-over-quarter in Q1 2026. The company has set a target of $1.2 billion in annualized TPV by the end of 2026. That seed round was led by Canary Ventures, with participation from Clocktower Ventures and FJ Labs, closing at $5.4 million in October 2025. So in roughly eight months, Karta went from raising $5.4 million to pulling in $140 million.
