A wealthy entrepreneur from Latin America can land in Miami with millions in assets, a long banking history, and an excellent credit profile back home. Yet when it comes to accessing credit in the United States, they often start from scratch.
That gap is what Miami-based Karta set out to solve. Now, investors are betting $140 million that the opportunity is much larger than most people realize.
Karta announced this week that it has raised $140 million in new financing, including a $15 million Series A round led by Galaxy Ventures and a $125 million credit facility from Community Investment Management (CIM). The funding comes amid a period of rapid growth for the company, which says it grew tenfold in 2025 and saw revenue and payment volume increase four times quarter-over-quarter during the first quarter of 2026.
Founded by Freddy Juez and Orlando Espinoza (featured right to left in the picture at the top of the post), Karta is targeting a problem that many international travelers face: despite strong financial credentials in their home countries, they often lack the U.S. credit history needed to access American financial products.
The company’s solution is a U.S.-issued credit card designed specifically for internationally mobile consumers. Through partnerships with more than 80 private banks and wealth managers, qualified clients can apply without a Social Security Number or ITIN while accessing credit lines of up to $200,000.
But Karta is also betting that the future of financial services looks a lot more like a conversation than a credit card application. The company has built a WhatsApp-based AI concierge that can browse the web, send emails, make phone calls, book reservations, generate virtual cards for purchases, and help users manage travel-related issues such as flight changes and charge disputes.
“In the last several months, we’ve seen explosive growth,” said Freddy Juez in the company’s announcement. “We set out to build the ultimate tech-forward credit card for the global traveler, and are thrilled to see the rapid increase in private banks working with us to offer this card to clients. We also appreciate the support of our partners and investors who will help Karta expand our reach and AI offering that makes travel and spending convenient and frictionless for users.”
The startup claims to target $1.2 billion in annualized payment volume by the end of the year.
Investors appear to be drawn not only to the product, but also to Karta’s distribution model. Rather than competing directly with major consumer credit card issuers, the company works through established private banking and wealth management channels to reach a highly specific customer base.
“Karta’s unique product offering has quickly earned the trust of dozens of the world’s largest financial institutions,” commented Mike Giampapa. “The company has built an efficient distribution model targeting a high-value and engaged customer base, a combination that creates the foundation for a strong business.”
The new funding will support the launch of a premium card tier, a corporate card and payments platform, and continued development of Karta’s AI concierge capabilities.
For Miami, Karta’s rise highlights a growing trend among local startups: building products for customers whose lives, businesses, and finances span multiple countries. In that world, the real challenge isn’t merely crossing borders, but making sure your financial identity can cross them too.
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- Karta raises $140M to bring U.S. credit cards to global travelers – June 17, 2026
- Bookit wants to make loyalty points useful again – June 16, 2026
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