“Can a YC-backed neobank become the default FX and cross-border collection rail for Indian SME exporters?”
Karbon Card launched in 2019 as a Y Combinator-backed corporate card and neobank for Indian startups and SMBs. Over time the company has pivoted strongly toward cross-border payments — operating as karbon.business / karbonfx.com — helping Indian exporters and resellers (Amazon, Walmart) collect USD/EUR/GBP/AED into INR accounts in FEMA/RBI-compliant flows. The corporate card remains a product, but the strategic center of gravity is now FX remittance and multi-currency virtual accounts.