Karta raises $140M in Series A co-led by Galaxy Ventures to bring US credit cards to global non-residents

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.

Karta was founded by Freddy Juez, who previously worked in Ecuador’s fintech sector, and Orlando Espinoza, who came through Y Combinator. The company also brought on Fernando Dalceggio, a former American Express executive, as a key hire.

The $125 million from CIM isn’t equity dilution for the founders. It’s debt capital that funds the actual credit lines extended to cardholders. The $15 million equity component funds operations, technology, and growth.

Galaxy Ventures co-leading a fintech Series A for a Visa credit card startup signals something about where Galaxy sees opportunity expanding. The firm appears to be broadening its aperture to include financial infrastructure plays that serve globally mobile, digitally native customers. Karta itself has no crypto component — no token, no protocol, no DeFi integration — and operates entirely within traditional financial infrastructure.

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