“Can a QCB-licensed prepaid card and e-wallet app become the default spending and rewards platform for consumers in Qatar?”
Founded in 2021 as a Qatar-based fintech under the Qatar Financial Centre, KARTY set out to build a lifestyle-oriented consumer payments app for residents in Qatar. The company obtained a Qatar Central Bank Payment Service Provider licence and partnered with Al Rayyan Bank and Visa to issue prepaid Visa Platinum cards — both physical and virtual. After several pre-seed and seed funding rounds totalling ~$3.4M, the product entered public waitlist phase by 2026, positioning itself as a spending-analytics and rewards platform rather than a pure neobank, differentiating through KPoints loyalty, subscription management, and PCI-DSS 4.0 compliance.
KARTY discloses Al Rayyan Bank as its banking provider, according to the Embedded Finance Index 2026.
KARTY does not disclose a bank charter of its own; its banking services are provided through Al Rayyan Bank.
KARTY's cards run on Visa.
The Embedded Finance Index 2026 maps 3 layers in KARTY's stack: Banking / BaaS (Al Rayyan Bank); Card network (Visa); Sponsor bank (Al Rayyan Bank).
KARTY is founded in 2021 and headquartered in Doha, Qatar.
KARTY has raised $3.4M in total (latest round: Seed Round, January 2024).
Get a read on where your own stack stands against KARTY and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.