SBM Bank India recently confirmed that it has teamed up with Karbon in order to introduce the Karbon Card, which is notably one of the nation’s first corporate credit card designed specifically for startups or early-stage firms.
All corporate credit cards issued will come with an expense management feature, and different reward programs, including special offers from AWS, Freshworks, and MakeMyTrip. The Karbon Card will assist users with networking with VC firms and help them manage capital acquired from their investors.
Sidharth Rath, managing director and CEO at SBM Bank India, stated:
“We firmly believe in Collaborative Banking – as the future lies in coming together of like-minded institutions to expand the market by creating more value per interaction for the target customers. Our focus is on enriching the ecosystem through collaborations.”
Rath added that his firm’s partnership with Karbon shows its commitment to “leading this narrative.”
“With Karbon Card we have taken one more step towards Collaborative Banking – realizing our vision of shaping banking to be a synergic platform for our customers and partners.”
Peifu Hsieh, CEO at Karbon, noted that he’s looking forward to working with SBM. He believes that his firm’s partnership with the institution is one of the best bank relationships they’ve established globally.
Hsieh also said that his firm has a great product in an area with many startup-friendly banks.
“The close symbiotic relationship enables us to redefine the way Indian corporates spend, moving from just a credit card to a payment solution.”
Mauritius’ government has supported SBM Bank India and it’s notably the first bank to be awarded a universal banking license from the Reserve Bank of India (RBI). The license allows the bank to establish its operations and function as a scheduled commercial banking institution.
The bank provides a wide range of financial products and services to its clients such as deposits, advances, non-resident Indian (NRI) services, treasury products and trade finance services.