Thursday, July 20, 2017

Karmic Connects With $17.2M

San Francisco-based Karmic, a developer of payment card and expense management products tied into payment cards and mobile applications, has raised $17.2M in a Series B funding, the company said on Wednesday. The funding came from Alsop Louie Partners, Arbor Ventures, Greycroft, Marketplace Funds, Startup Capital Ventures and others. Karmic said that, as part of the funding, Wei Hopeman and Jim Whims have joined its board of directors. Hopeman is a partner at Arbor Ventures, Whims is a partner at Alsop Louie. Karmic is led by CEO Mario Furgiuele.