U.S. startup Karta.io, the financial OS for e-commerce teams, announced that it joined Visa’s Fintech Fast Track Program.
Through the program, Karta.io will “have access to the tools and resources needed to scale its business using the reach, capabilities, and security that VisaNet, Visa’s global payment network, offers.”
Through Visa’s Fintech Fast Track Program, Karta.io is now “able to build and expand new spend management experiences for business and build a financial ecosystem for managing company cash flows with advanced tools for organizing expenses and control over business finances.”
Karta.io offers “a single platform for e-commerce businesses to understand, run and grow their business.” It works “to give e-commerce budget automation, easy-to-understand insights over working capital, business accounts and unlimited virtual cards.”
Built to regain control of company budgets, it “offers multiple virtual cards in one click, spending rules for every user, effortless team management, and real-time expense tracking.”
The service is “built by serial e-commerce and fintech founders and strives to solve the problems e-commerce companies face in daily financial processes.”
Nik Zimarkov, the CEO of Karta.io, said:
“The e-commerce market is exploding in terms of revenue and active businesses. E-commerce teams rely on patching together a finance stack from multiple providers for banking, accounting, tax, and credit — none of which is designed for their needs. When a business starts to grow, teams have to track the numbers daily. More transactions and budgets build complexity. Teams face problems with keeping track and cash forecasting becomes a huge challenge.”
“This results in the teams going to the DIY solution realm, losing money on processes, departments, software, and software control. This is becoming a huge problem for the e-commerce global market, which is growing rapidly: eMarketer predicts it will reach $6 trillion by 2024.”
Visa’s Fintech Fast Track Program will “give Karta.io access to Visa’s growing partner network, and the support of experts who will help the company to reach the next level of functioning in the most efficient way.”
The program “provides turnkey access to Visa’s ecosystem partners, online licensing and APIs, and extensive go-to-market toolkits, analytics and consulting platforms.”
Nik Zimarkov, the CEO of Karta.io, continued:
“Karta.io has always placed an emphasis on innovation and our partnership with Visa now gives us the resources to support our initiatives as we quickly scale. Visa’s Fintech Fast Track Program is a very strong project that could change the financial industry of the future. We are proud to be a part of this program”.
Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa, remarked:
“At Visa, we understand a shift to e-commerce has impacted how businesses both spend and receive money. By joining Visa’s Fintech Fast Track program, exciting Fintechs like Karta.io gain unprecedented access to Visa experts, technology, and resources to efficiently scale and bring innovative solutions to market.”