Our Vision

Karmic is a leader in the convergence of payment cards and mobile software. Our robust, integrated payment and expense management solution gives businesses the power to save time and money. We’re committed to developing reliable solutions that power simple and state-of-the-art financial applications that offer ease of enrollment, payments, and expense management along with top notch mobile experiences. A “Powered by Karmic” solution helps any group manage their expenses.

Mario Furgiuele, Chief Executive Officer

Mario was Vice President of Card Product Strategy at FIS. Prior to FIS, he served as Director of Portfolio Business Development, responsible for delivering marketplace solutions, including what became the Amex Bluebird Program. Our most recent launch is Mario’s 28th product to market.

Garrett Blythe, Chief Technology Officer, Co-Founder

Garrett launched his career as Lead Browser Engineer at Netscape. As founding engineering team member of Epinions.com, co-inventor of Xfire.com, founder of MemoryMatrix, et al. Garrett continued exploring his diverse passion for the applications of technology.

Chauncey Dewey, Chief Financial Officer

Chauncey Dewey comes to Karmic as a seasoned Wall Street Executive with extensive experience advising financial institutions and overseeing general corporate finance. In addition to delivering solid financial and operational results for Karmic, Chauncey leads the Compliance, Risk, Human Resources, and Finance divisions of the company.

Kelly Lazzara, SVP, Data Science

Kelly joined from Upshift Partners where he'd built and product managed lead generation contracts for top Bay Area startups – including Karmic. Prior to that, he co-founded a sales-mix optimization company that integrated with POS and inventory systems. Kelly has instructed quantitative analysis to undergraduates and mobile app development to high school students.

Shawn Warley, SVP, Solutions Architecture

Shawn joined Karmic in 2017 after spending 17 years developing and implementing innovative financial solutions with FIS. His robust payments industry experience is further complemented by his extensive technical capabilities, thus allowing Shawn to work with clients and partners to deliver efficient solutions to complex business challenges.

Tara Bonnell, Vice President, Marketing

Tara joined Karmic from FIS where she spent 5 years marketing emerging technology products, including BizNOW, and designing and implementing consumer adoption strategies for major retailers and FIs. Prior to FIS, Tara spent 7 years developing marketing solutions for a global leader in talent acquisition, and 15 years crafting B2B and B2C brand marketing.

Stephen Grivakes, Vice President, Business and Product Development

Stephen comes to Karmic with over 25 years of experience, including 15 years at American Express as the Head of Enterprise Growth Canada, and Senior Director of International Payment Options. His leadership will help the company expand in both the U.S. and Canadian markets.

Stephen Grivakes


We at Karmic are fortunate to work with many experienced entrepreneurs and investors. Currently, we have the pleasure of collaborating with the following institutional investment firms:

Arbor Ventures

Arbor Ventures invests in entrepreneurs who have a deep 
understanding of their market and the tenacity to build a successful company.

Start-up Capital Ventures

Startup Capital Ventures is an early stage venture capital firm based in Menlo Park, California with an office in Honolulu, Hawaii. Our geographic focus is Silicon Valley along with selective investments in Hawaii and elsewhere.

Alsop-Louie Partners

Alsop Louie Partners is a team of seasoned investors who are entrepreneurs and executives with distinctive reputations. Each partner has experience building technology or media businesses that have grown into successful operating companies, public and private. Among our partners, we have experience in new media, gaming, SaaS, cloud infrastructure, security, and mobile.


Greycroft is a venture capital fund based in New York City and Los Angeles. We invest in early-stage Internet and mobile companies.

Camp One Ventures

Camp One seeks high-growth emerging companies across several key industry themes which may include, among others, social media, mobility, financial technology and payments, cloud computing and software-as-a-service.

Camp One funds start-ups that are managed by exceptional core teams of entrepreneurs, are focused on large markets, or that have business models that disrupt entire industries.

Draper Associates

Draper Associates has a history of backing world-class entrepreneurs enabling or disrupting businesses in the $10’s billions. Draper Associates was impressed by the fact that Karmic can enable SMBs, enterprises, and organizations to intelligently deploy spend cards and have complete control through an easy to use, unified backend for dynamic management. As merchants adopt new payment technologies (chip and pin, NFC, QR Codes, etc.), Karmic can instantly scale and deliver the same value with no additional cost to the end user. This creates a strong link for the customer, creating strong barriers, exactly the types of business we love backing here at Draper Associates.


LaunchCapital was founded in 2008 with a mission to help entrepreneurs gain quick access to seed capital and mentorship. Across 130 investments to date, LaunchCapital's core focus has been enabling great people to accomplish great things. Through Karmic Labs, LaunchCapital gets to extend that core belief to an entirely new segment of business owners, as the Karmic Labs team fundamentally changes the way that business owners effectively manage and grow their business.

New Ground Ventures

New Ground Ventures invests in early stage companies with breakthrough potential. Working across multiple sectors, including Technology and Financial Services, NGV leverages its strong network of relationships and deep experience as it works in partnership with CEOs to build great businesses.

RPM Ventures

RPM Ventures is a seed and early-stage focused venture capital firm that invests in Information Technology companies across our areas of expertise, including: automotive industry IT and connected car, enterprise SaaS, online marketplaces, and cloud and social media infrastructure. We pride ourselves in investing in companies where we'd work ourselves, and our number one priority is the entrepreneurs leading our portfolio companies.

Marketplace Funds Venture Capital

Marketplace Funds invests in healthcare and financial digital transformation.

Pipeline Capital Partners

Pipeline Capital Partners is a seed stage venture capital fund that partners with entrepreneurs starting change-the-world enterprise and consumer technology companies.

Accelerator Venture Capital

Accelerator Venture Capital is a San Francisco-based venture capital firm that invests in early-stage technology companies.

Correlation Ventures

Correlation Ventures is a new breed of venture capital firm, leveraging world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional capital to complete a financing round. Backed by leading institutional investors, Correlation has more than $350 million under management.

Board Members

Wei Hopeman

Wei Hopeman is Managing Partner at Arbor Ventures, contributing unique experiences and perspectives in finance and technology spanning Silicon Valley, Greater China and Southeast Asia. Prior to Arbor, Wei was Managing Director and Head of Asia for Citi Ventures, where she established the group in Asia to invest in financial services, payments, digital commerce, Big Data and analytics. Prior to Citi, she managed the China private equity practice at Winnington Capital, established the China office for Jefferies & Company, and was a technology investment banker in Silicon Valley with Goldman Sachs. Wei began her investing career with Dimensional Fund Advisors where she invested across eight Asian markets.

Wei has a BA from Pomona College and an MBA from the Stanford Graduate School of Business. She is a founding member of the Internet Securities Services Committee established by the Chinese Securities Regulatory Commission, serves on the board of AngelVest, and was previously Vice Chairman of Women in Leadership in China.

Gary Rieschel

Gary Rieschel is a founder of Qiming Venture Partners, a $1B+ USD fund focused on early stage investments in China. Prior to Qiming, Gary was the founder or lead investor in several major venture capital firms in the U.S. and China including SOFTBANK Venture Capital, Mobius Venture Capital, SAIF Partners (China), and Ignition Partners (U.S.). Gary served on Softbank’s Board of Directors. Prior to being a venture capitalist, Gary held senior executive positions at Cisco Systems, Sequent Computer Systems and Intel.

Ryan Weidenmiller

Ryan Weidenmiller is a co-founder and formerly served as the founding CEO of Karmic Labs. Prior to Karmic, Ryan was the co-founder and director of Launchpay. He also founded the Acacia Capital Management, a catalyst-driven fundamental fund focused on unique ideas and opportunities in Internet, technology, resources, consumer sectors that are generally under-followed or misunderstood, with a focus on US and China. Prior to that he founded Susquehanna International Group, where he invested capital and helped develop growth stage companies in consumer Internet, data networking, wireless/mobile, retail/consumer, agriculture, real estate, energy, and medical device industries. Before that, he served as Equity Research and Financial Analyst Mergers & Acquisitions at Robertson Stephens, and was Mergers & Acquisitions Analyst at PaineWebber.

Ryan holds a BS in Economics from the University of Pittsburgh and completed the Executive Program in Strategy & Organization from the Stanford University School of Business.

Jim Whims

Jim Whims, Partner at Alsop-Louie Partners, previously spent a decade as a partner at Techfund Capital in the U.S. and Europe, where he invested in companies like 3DFX and Portal Player. Jim was a co-founder of Worlds of Wonder and was a key executive at Software Toolworks and Sony Computer Entertainment. In 1996, Adweek/Brandweek recognized him as the Marketing Executive of the Year for driving revenues from zero to $1B in one year at Sony, where Jim managed the launch of the Playstation in North America. Jim also serves on the Board of Directors at THQ and Synaptics. He received his MBA in Finance from the University of Arizona and a BS from Northwestern University.

Board Advisors

Tom Egan

Tom is a principal at LaunchCapital. As Principal, Tom leads his own investments with a particular focus on companies that are using data to address large problems in markets that are underserved by technology. He is an active board member/observer with REsurety, Karmic Labs, and Gridcure, among others. A former operator and high school teacher, he brings a combination of operating experience, empathy for the entrepreneur, and a commitment to clear communication and knowledge sharing to all of his interactions with founders. Tom earned his BA in Economics from Middlebury College.

Pete Hartigan

Pete Hartigan is a Managing Partner for the Marketplace Funds in partnership with Dr. Andy Sekel. Pete’s expertise is venture capital & financial services.

Over the past few decades, Pete has been a founder for several startup, and worked at three venture capital firms in Boston and Silicon Valley, including Battery Ventures, SOFTBANK and Diamondhead. In addition, he consulted for several Fortune 100 companies, including Unitedhealth, IBM and Matsushita / Panasonic.

Pete's credentials include Duke University (summa cum laude), Stanford Graduate School of Business (Arbuckle Award), and FINRA Series 7 & 63.

Mark Terbeek

Based in Greycroft’s Los Angeles office, Mark targets investments in companies building cloud software and disrupting the media value chain. Previously, Mark was a partner with MK Capital, a venture fund based in Los Angeles and Chicago. Mark also co-founded Jamcracker Inc., an early SaaS pioneer where he served as its vice president of corporate development. He also worked at McKinsey & Co., a management-consulting firm. Mark has led investments and served on the boards of ZEFR, AwesomenessTV (Comcast), DramaFever (Warner Brothers), Machinima (Warner Brothers), Bladelogic (BMC), Kontiki (Verisign) and VPNet Technologies (Avaya) and he was a Board Observer at Exodus Communications. Mark is a graduate of DePauw University and the Stanford University Graduate School of Business.

Joel Yarmon

Joel Yarmon, an investor at Pipeline Capital Partners, has sourced and led over 50 investments in his career and has worked on more than 180 transactions. He has served in a board capacity for 25 portfolio companies, and experienced almost every possible company outcome short of an IPO. Joel describes his job as being to find and make new investments and help his portfolio companies get to the next stage of institutional financing.