Karta secures $140 million for travel card

Travel-focused credit card company Karta has successfully raised $140 million in new funding to enhance its offerings for travelers. The financing includes a $15 million Series A round led by Galaxy Ventures and a substantial $125 million debt facility from CIM. This significant capital injection is earmarked for the launch of an "elevated tier card" designed to provide enhanced benefits and services to its user base. The funding underscores investor confidence in Karta's business model and its potential to capture a larger share of the travel fintech market.