Kata.io introduces a full-service financial platform for e-commerce to simplify financial management and expense control.
The American startup, which supports a financial ecosystem for e-commerce businesses, has officially launched its service in its North American market.
The service aims to simplify the financial management of e-commerce teams by providing financial supervision tools.
E-commerce businesses that engage with the service will benefit from the automation and insights needed to enable efficient business growth.
The platform was born out of the founders’ mutual frustration in finding a suitable service for their e-commerce business, as none of the existing solutions would have been able to meet their needs.
Speaking about the forces that led to the creation of the platform, the company’s CEO, Nick Zimarkovadmitted that “the banks didn’t speak our language, and they still don’t”.
“We were fed up with slow banks and services, tired of trying to manage a narrowly focused set of services that don’t provide the big picture,” continues Zimarkov.
The company soon realized that it could automate much of the manual work that was preventing it from growing quickly.
“That’s why we built Karta.”
The solution offers business accounts, virtual cards, spending rules, and real-time expense tracking.
This combined offer allows teams to benefit from traceable and secure payments, giving business owners a holistic view of their business expenses.
With the global e-commerce market projected to reach $6 trillion by 2024, keeping financial records has become increasingly difficult.
In the United States in particular, where the new service made its debut, the situation is experiencing a growth rate of 16.1%; put the market on track to hit $1.06 trillion this year.
As transactions continue to increase in volume, tracking daily purchases and subscriptions has become increasingly complex; sabotage business costs on processes, departments, software and control.
“Our goal is to reinvent the way e-commerce businesses spend, freeing up cash flow for growth,” Zimarkov notes. “Banks are not designed for e-commerce, but Karta is.”