Even though high-net-worth non-residents may have millions in the bank, a common problem for them is they cannot get a premium credit card because they don’t have a Social Security number or other tax ID number.
A Miami-based fintech startup, Karta, is focused on fixing that. This team has come out of stealth mode to announce that Karta has already launched the first U.S.-issued premium credit card designed for global non-residents with a U.S. bank account. More than a dozen U.S. financial institutions are now offering the card.
The company has also announced it has raised a $5.4 million seed round led by Canary with participation from Clocktower Ventures and FJ Labs. Karta will be using the funds to grow its team, build its credit card offering and scale its footprint with financial institutions across the United States.
Karta was founded in 2022. Karta’s founders are serial tech entrepreneurs Freddy Juez and Orlando Espinoza. They recently hired Fernando Dalceggio, the former head of acquisition and new business development from AMEX International Dollar Cards (IDC) to help build this offering. Dalceggio worked for AMEX IDC for nearly 25 years, managing multinational, multicultural teams providing high-impact service portfolios to a highly diverse customer base.
“Karta has been very popular with customers from LatAm countries and we’re expanding our reach worldwide,” said Juez, also Karta’s CEO. “Orlando and I are grateful to have Fernando’s expertise in building this offering and our investors, who will also help us expand our footprint with financial institutions in the U.S.”
Now, global non-residents with a U.S. bank account can apply for a Karta card and get approved in minutes — no SSN or ITIN required. Karta customers can build their U.S. credit history and avoid costly fees when they travel, at the same interest rates as in the U.S.
Karta’s financial institution partners include Bolton Global Capital, XP Investments, ProCapital Financial and Global Wealth Management, all of which are now able to issue Karta premium credit cards to their customers with a bank account or brokerage account and a minimum balance of $150,000 in assets. Karta is also the first credit card managed entirely through WhatsApp with AI agents to cater to clients 24/7, the company says.
“Advances in AI technology are helping us to really build out our customer service offering, and customers are blown away to have their booking requests, account queries and travel assistance so quickly and easily answered through WhatsApp. We are building the ultimate tech-forward premium credit card for the global traveler,” Juez said.
Pictured above: Karta’s team, left to right, are Fernando Dalceggio, Head of Commercial & Customer Experience; Freddy Juez, co-founder & CEO; Camila Velzi, Head of Brazil; and co-founder Orlando Espinoza.
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