Karma Wallet, a Raeligh, NC-based fintech startup, raised $2M+ in funding.
Backers included socially conscious investors, including the Tweener Fund.
Led by CEO Jayant Khadilkar and Kedar Karkare, PhD, the company announced the launch of the Karma Wallet Card, a new tool for consumers to understand the impact of their spending habits. The Karma Wallet reloadable prepaid debit card is the first financial product to provide real-time insights into the social and environmental impact of every transaction. Karma Wallet’s community now has the ability to turn their daily and recurring expenses into direct action, earn cashback rewards, and automatically support reforestation efforts and local food security initiatives on select purchases.
The Karma Wallet companion app comes with a dashboard that provides a view into the socioeconomic impact of each purchase, and access to comprehensive impact evaluations of 15,000+ brands. This proprietary ecosystem showcases where, and how, cardholders can make purchasing decisions that reflect their individual ethos, and the card allows members to put that directly into action.
