Karbon Card, a corporate card provider and developing Neobank for new-age start-ups and small and medium enterprises (SMBs), has launched Payout, a tool that will make vendor and salary payments easier and faster.
Simple Maker Checker, Bulk Payout, Advanced Notification, and the ability to email payment links to recipients are just a few of the features of the new Payout product.
In addition, the finance team will have access to all cards and vendor payments through a single platform. In fact, many Karbon clients have already begun to use Payout to make crucial payments, such as monthly salary disbursement.
In addition, the finance staff will have access to all cards and vendor payments through a single platform. In fact, many Karbon clients have already begun to use Payout to make crucial payments, such as monthly salary disbursement.
This is significant since small firms and start-ups frequently find dealing with and interacting with large banks’ corporate banking section difficult for a variety of reasons.
Karbon Card, situated in Bengaluru, is a corporate payment platform that offers Visa-issued corporate cards (both virtual and real) to enable the finance department to effortlessly control and track costs across the organisation.
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 received $32 million in funding from YCombinator, Orios Venture Partner, Ramp, Olive Tree Capital, and other investors.