Who owns Karat?
short answerKarat is not itself a bank. It runs on a partner-bank (BaaS) model and works with Cross River Bank — the licensed bank that actually holds customer deposits behind the app. Karat's most notable disclosed backers include Union Square Ventures and SignalFire.
Is Karat a licensed bank?
No — a partner bank (Cross River Bank) holds the money. License detail: Partner bank (Grasshopper Bank, N.A.); Karat Visa credit card issued by Cross River Bank.
Where is your money held?
Custody model: Custodial.
Karat runs on: Cross River Bank (BIN sponsor bank). Full stack on the infra map.
Who's behind Karat?
Karat was founded by Eric Wei, Will Kim (2019), headquartered in Los Angeles, US.
Early investors
Is my money safe with Karat?
Your money is held by Cross River Bank, so any deposit insurance flows through that sponsor bank — not Karat itself. Check the sponsor's scheme and whether balances are "passed through" for per-customer insurance.
go deeperSee the full Karat profile with every verified field, or Karat alternatives. Raw fields: data.json.
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.