Karbon Card, a corporate card provider and an emerging Neobank for the new-age start-ups and small & medium businesses (SMBs), has announced the launch of its product called Payout that would make vendor and salary payments easier and faster.
Some of the features of the new Payout product include simple Maker Checker, Bulk Payout, Advanced Notification along with an option to send payment links for beneficiaries.
Further, the finance team will be able to access all the cards and vendor payments on a single platform. Incidentally, many customers of Karbon have already started using Payout to make critical payments, such as monthly salary disbursal.
This assumes significance as small businesses and start-ups often find it challenging to deal and interact with large banks’ corporate banking division for various reasons.
Bengaluru-based Karbon Card is a corporate payment platform and provides Visa-issued corporate cards (both virtual and physical) to empower the finance team to easily control and track expenses for the whole company.
It was founded in 2019 by Kartik Jain, Pei-fu Hsieh, Amit Jangir, and Sunil Kumar. Simply put, the core benefit of the Bengaluru-based start-up remains quicker and hassle-free access to a credit card for corporate spends.
“Imagine a situation when the finance team has to manage corporate cards from five different banks along with several current accounts. It becomes a nightmare to manage vendor payments, reconciliation, manage leaks if any, every single day. Our Payout feature is a simple and one-stop solution for all kinds of banking and payment needs. It is everything that a bank offers and a lot more,” said Jain.
Karbon has so far raised around $32 million from investors including YCombinator, Orios Venture Partner, Ramp, Olive Tree Capital and others.