Venture Capital Access Online | The eMarketplace for the Venture Capital Industry

 

Home

Marketplace
Database
News
Store
Resources
Contact Us

 

 

News


VENTURE CAPITAL DIRECTORY | PRIVATE EQUITY DIRECTORY

List of Venture Capital / Private Equity Firms and Sources
Published since 1998, VCPro Database is the most reliable, up-to-date and affordable venture capital directory

VCPro Database 2021 New Edition Special Offer!
Buy Now for $119.95 with a FREE mid-year update in July 2021
Learn More or Buy Now

VCPro Database 2021 24th Edition -- a downloadable and searchable venture capital database with 6,400+ venture capital and private equity firms worldwide. The most reliable, up-to-date and affordable venture capital directory of its kind. VCPro Database is available in both Windows and macOS versions. It has been published since 1998. (Updated JANUARY 2021)

Learn More » or Buy Now »




Karmic Secures $17.2M Series B Financing and Adds Two Board Members

SAN FRANCISCO, Calif., July 19, 2017-- Karmic, a leader in the convergence of payment cards and mobile software, has raised $17.2 million in a Series B round of financing. The company also announced that Wei Hopeman and Jim Whims have joined its board of directors.

“This investment propels Karmic to the next stage of growth, and adding Wei and Jim’s expertise to our board will help us get there quicker,” says Mario Furgiuele, CEO of Karmic. “Karmic continues to build out our proprietary technology solutions to support payment and expense management products for small- and medium-sized businesses, increasing their access to the growing purchasing card market, expected to be $377 billion by 2019.”

Hopeman is a finance industry veteran, former Citigroup executive and currently a managing partner at Arbor Ventures. Whims is a gamification industry veteran, former Sony PlayStation executive and currently a partner at Alsop Louie.

The $17.2 million investment will support the expansion of Karmic’s enterprise-focused business, which designs technology solutions for large companies, banks, payment processors and payment networks to provide for their small and medium-sized business customers. Karmic’s technology helps business owners, employees and third-party contractors manage and control spending by using Karmic’s payment and expense management solution built into a mobile application.

Karmic offers turnkey technology solutions, and partners can issue cards or use a bank-sponsored program. The innovative offering is easy to use with no credit check and no overdraft fees, late fees or interest. This solution allows for real-time spending and expense management: users can easily add, send and remove money, and implement spending controls and limits for employees and subcontractors. Karmic’s industry-leading transaction processing system is backed by the global leader in payment services and offers real-time security and fraud monitoring.

Alsop Louie Partners, Arbor Ventures, Greycroft, Marketplace Funds, Startup Capital Ventures and others participated in this round of financing.

About Karmic

Karmic (www.karmic.com), a leader in the convergence of payment cards and mobile software, has developed a robust, integrated payment and expense management solution that gives businesses the power to save time and money. Karmic is committed to developing reliable platform solutions that power simple and state-of-the-art financial applications. Offering ease of enrollment, payments, and expense management along with a real-time mobile experience, “Powered by Karmic” solutions help anyone manage their expenses.


News Index

Venture Capital Database 

 

 NEWS

Latest VC News
VC News Archive
News Search
RSS News Feed

List Your Firm

Entrepreneurs
Investors
Advisors

Venture Capital Database

VCPro Database
Download Trial
Buy Now

Business Plan Tools

Free Business Plan Template

 

Copyright © 1998-2021 Access InterComm  All rights reserved. 
Site Map | Privacy Statement | Legal Notice & Disclaimer