Newton School and Karbon Forex, A match made in heaven!

Modified on Tue, 11 Apr 2023 at 02:39 PM

Newton School, a tech-savvy e-learning platform based out of Bengaluru, faced a significant hurdle with their foreign
remittances. But hold on, things turned around when they decided to join the Karbon Forex Family. 

In our conversation with Siddhant Agarwal from the Newton Founder's office, he shared his delight and positive feedback on 
how Karbon Forex helped streamline their remittances and saved them precious time and money. 

So, buckle up and get ready for a tale of triumph over financial obstacles!

Q. Please tell us a little bit about why you chose Karbon Forex.

Siddhant: " The finance team at Newton School enjoyed Karbon cards, and when the Karbon co-founder explained the novel 
Forex product, we decided to switch our Forex banking to Karbon. The first thing that caught our attention is that Karbon Forex 
handles 15CB compliances. We were spending a lot of time and effort on these compliances, but now Karbon Forex has made
the process easier and hassle-free for us.

And the fact that Karbon Forex offers the lowest markup fees on the market was a big selling point for us. We were able to 
save a significant amount of money on each transaction. "

Q: That sounds great. How happy are you with the service you received from Karbon Forex?

Siddhant: "The service is exceptional. We are not involved much in Forex transactions, as Karbon Forex follows up with 
Chartered Accountants and ensures all compliances are met. This takes a huge burden off our shoulders, and we can trust 
Karbon to the fullest."

Q: How was the Experience Before Karbon 

Siddhant: "The outward remittance process is complex and time-consuming. The most daunting factor was navigating the 
documentation process by following up with banks. We had to wait 2-3 days for CA's response, which caused hurdles in processing 
our transactions. 

To make matters worse, the banks we used to work with had a fixed markup price that was only sometimes favorable for us. All of 
these factors made the process of forex remittance complex for us, and we knew we needed to find a better solution."

Q. How was your onboarding experience with Karbon Forex?

Siddhant: "Already being a client with Karbon, it was easy for us to get on board the platform. We had to just e-submit certain 
documents, add their CA to our IT portal and we were good to go!"

Q. What is your transaction experience with Karbon Forex?

Siddhant: "Indeed, thrilled! Now I can upload two or more invoices per day within ten minutes. The intuitive dashboard 
leads users to a simple and efficient invoice upload mechanism. We can log into the dashboard via OTP, and all we need to do 
is add vendor details and submit the invoice. The rest is taken care of by the Karbon team."

"The quick turnaround time on transactions is mind-blowing. Our outward remittances were done quickly and efficiently. It is 
a significant relief!"

Q. Are you facing any challenges while using Karbon Forex?

Siddhant: "We had a miniature path breaker on the first invoice, as it was our first transaction with Karbon Forex. But, team 
Karbon fixed all the hiccups and provided smooth transaction service. Now, we are transacting with countries like USA and 
Singapore with 100% transaction rates, which also covers our University Partnership costs."

Q: It's great to hear that Karbon Forex has been such a big help to your business. Is there anything else you would like to 
add to your experience?

Siddhant: "We are delighted with the service and support we received from Karbon Forex. The team has made our outward 
remittance process much easier and more efficient. We highly recommend Karbon Forex to anyone looking for a reliable, 
cost-effective solution for their foreign remittance needs.

If you're also facing remittance challenges, don't wait any longer. Book a demo today and join the revolution with 

Karbon Forex!