Carret

Carret is an India-based cryptocurrency trading and yield platform designed to make crypto investing accessible to retail savers. Founded in 2021 and headquartered across Bengaluru and Singapore, the platform targets the emerging class of crypto-curious Indian investors — particularly Gen Z and millennials — with a product suite built around simplicity, passive income, and systematic investing.

The Problem Carret Addresses

Indian retail investors have historically faced friction when trying to earn meaningful returns on cryptocurrency holdings. Traditional crypto exchanges offer trading but not yield, while DeFi protocols are technically complex and carry high gas costs. Carret positions itself in between: a regulated, KYC-AML compliant interface that abstracts institutional-grade yield strategies into a consumer mobile application.

Core Products

24Carret High-Yield Account

Carret's flagship product is 24Carret, marketed as India's first crypto high-yield account. It allows users to deposit cryptocurrency assets and earn annual percentage yields of up to 17% APY on stablecoins such as USDT and USDC, and stated average yields of 8–9% APY on Bitcoin and Ethereum respectively. Rather than simply holding assets, Carret deploys user funds across a combination of institutional borrowers, protocol-level staking, and the DeFi ecosystem. The company states it vets borrowers and rebalances across these sources to manage risk while maximising returns.

Crypto SIP (Systematic Investment Plan)

Carret has added a Systematic Investment Plan feature modelled on India's widely used mutual fund SIP mechanism. Users can automate recurring purchases of Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) on a daily, weekly, or monthly schedule. The SIP feature applies rupee-cost averaging to reduce the impact of market volatility on entry prices. Once configured, purchases execute automatically without requiring active intervention from the user.

Carret Private Client

For high-net-worth investors, Carret offers a bespoke wealth management service called Carret Private Client. It provides personalised investment strategies, portfolio diversification across crypto assets, proactive risk management, continuous portfolio monitoring, and access to exclusive market research. The service is positioned as a concierge-grade layer on top of the standard platform.

Trading Platform

Beyond yield and SIP, Carret operates a full cryptocurrency exchange supporting more than 100 digital assets. The platform is available as mobile applications on iOS and Android.

Revenue Model

Carret generates revenue through two primary channels: a fixed margin on user transaction volume, and a percentage share of the APY it delivers to users. A planned lending technology subsidiary would add a third revenue stream, according to the company's 2022 fundraise disclosures.

Solana in the Carret Ecosystem

Solana (SOL) is one of three assets — alongside Bitcoin and Ethereum — supported in Carret's SIP product. The inclusion of SOL reflects Carret's view of Solana as a core long-term holding for its target user base. Beyond the SIP offering, Carret's DeFi yield strategies involve protocol-level staking across multiple blockchains, a category in which Solana's high-throughput, low-fee architecture makes it an attractive venue for yield generation.

Founders and Team

Carret was co-founded by Neha Kumari and Shuja Hussain. Both are alumni of IIT BHU; Neha Kumari holds an MBA from IIM Ahmedabad. Prior to Carret, the founders built product at Flipkart and UpGrad respectively, giving the company a strong background in consumer fintech at scale. Neha Kumari serves as CEO and has been recognised among India's emerging women leaders in fintech by YourStory in February 2025.

Funding and Investors

Carret raised a pre-seed round in August 2022 from a group of investors that included Sandeep Nailwal, co-founder of Polygon; Yan Wu, a former executive at BlackRock; and Amesten Capital. The total amount raised was not publicly disclosed. At the time of the round, the company reported an average 10x growth in the preceding three months and announced plans to expand into the Middle East and Southeast Asia within six to eight months of closing.

Compliance and Security

Carret operates under a KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance framework, which the company describes as a core differentiator in India's regulatory environment. The platform's security architecture is described as employing world-class security measures, though specific technical details of custody arrangements or third-party audit reports are not publicly disclosed on the official website.

Ecosystem Fit

Carret sits at the intersection of Indian retail fintech and the global crypto yield ecosystem. Its SIP product adapts a deeply familiar investment mechanism — the systematic plan — to cryptocurrency, lowering the conceptual and operational barrier for first-time crypto investors. Its high-yield account draws on DeFi and institutional lending infrastructure to deliver returns that would be difficult for individual retail investors to access directly. With Solana included as a first-class SIP asset, Carret provides one of the few regulated, mobile-first on-ramps for Indian retail investors to gain structured, automated exposure to the Solana ecosystem.