TLDR Tech / Crypto
Karta giving world's wealthiest non-Americans access to US credit
Karta closed a $140 million raise ($15 million Series A led by Galaxy Ventures and a $125 million credit facility from CIM) for its premium US-issued credit card targeting high-net-worth individuals outside the US who hold assets at American institutions but are invisible to the US credit system due to lacking an SSN or FICO score. The product underwrites against verified assets at partner institutions rather than credit history, runs on stablecoin rails under the hood, distributes through 80+ private banks and brokerages including Raymond James, Itaú, and Interactive Brokers, and features an AI concierge over WhatsApp, with the author noting the growth curve (10x revenue and payment volume in 2025, another 4x in Q1 2026) suggests a model built on extraordinary depth per user rather than mass-market breadth.
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