In a bold move to fuse financial technology with environmental stewardship, Karma Wallet has announced the launch of their Karma Wallet Card, a groundbreaking new spending tool that redefines the power of purchase.
Accompanied by a robust $2M+ funding injection from socially conscious investors, including the innovative Tweener Fund, this launch heralds a new era of impact-driven, conscious consumerism.
Designed to disrupt the fintech status quo, Karma Wallet offers an easy mechanism for consumers to understand the true 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 growing community now has the unparalleled 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.
“There is a big gap between intention and action,” Karma Wallet CEO and co-founder Jayant Khadilkar told Sustainable Brands™ in 2022. “Through the Karma Wallet Card, we’re turning everyday transactions into opportunities for profound action.”
The Karma Wallet companion app comes with a dashboard that provides an unparalleled view into the socioeconomic impact of each purchase, and access to comprehensive impact evaluations of 15,000+ brands. This proprietary ecosystem showcases where, and more importantly how, cardholders can make purchasing decisions that reflect their individual ethos, and the card allows members to put that directly into action.
“Our members are change-makers; participating in a global effort to use money as a tool for change,” explains Kedar Karkare, PhD, Karma Wallet’s co-founder. “Our mission is to enlighten, engage, and empower consumers to be the change they want to see in the world, one purchase at a time.”
With the $2M+ capital poised to propel the Karma Wallet card into the marketplace, the team’s vision is clear: to catalyze a shift towards mindful spending, educate consumers, and shape a future where every dollar spent supports a more sustainable and equitable world. Their recent inclusion on Inc.’s Best in Business 2023 list underlines Karma Wallet’s ascension in the fintech space, reflecting a trajectory that is as impactful as it is inspiring.