Magic
DefunctYC S22New York City, US · Founded 2022 · 10 employees · 9 known investors
Magic provides a bank-based payment solution that allows merchants to accept direct bank transfers at checkout, reducing processing fees and payment failures compared to traditional card payments. The platform serves e-commerce and subscription businesses seeking to lower payment costs, churn, and fraud.
Founders & leadership· Y Combinator alumni (S22)
Magic was founded in 2022 by Chetan Kulhari and David Guo.
CK
DG
David GuoFounder
Investors · 9
Y CombinatorSan Francisco · $500K
Bling CapitalreportedMiami Beach · $1M – $5M
ESSENCE VCreportedBothell
FloodgatereportedMenlo Park · $500K – $5M
Lerer HippeaureportedNew York · $500K – $2M
Standard Capitalreported · 2 sourcesSan Francisco
Twenty Two VenturesreportedPalo Alto · $50K – $250K
Also in the syndicate · 2
Major Food GroupVCR Group
Funding
SEC filings, press & company announcements- Undisclosed amountSeedOct 2025
Lerer Hippeau (lead), Bling Capital, Floodgate, Major Food Group, VCR Group
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Competitors · 3
by search overlapMagicLink7 shared keywordsMagic provides an API for embedded wallet creation, transaction signing, and onchain automation, serving developers and applications building on blockchain infrastructure. The platform enables user onboarding via email, social, passkeys, or SSO with wallet provisioning and transaction execution capabilities.
DeviceMagic6 shared keywordsDevice Magic provides a mobile forms platform with a drag-and-drop form builder that lets field and floor teams collect data, complete inspections, safety checklists, and maintenance forms on smartphones and tablets, including offline. It routes completed forms into a business's existing data systems for reporting and compliance, serving industries with field operations.
Magical4 shared keywordsMagical provides workflow automation software that uses AI to eliminate repetitive manual tasks for enterprise teams. The platform automates business processes across various workflows and departments.
Companies competing with Magic for the same Google search keywords, organic and paid, via search-intersection analysis.
In the news
Frequently asked questions
- What does Magic do?
- Magic provides a bank-based payment solution that allows merchants to accept direct bank transfers at checkout, reducing processing fees and payment failures compared to traditional card payments. The platform serves e-commerce and subscription businesses seeking to lower payment costs, churn, and fraud.
- Who founded Magic?
- Magic was founded by Chetan Kulhari, David Guo in 2022.
- Who are Magic's investors?
- Magic's investors include Y Combinator, Bling Capital, ESSENCE VC, Floodgate, Lerer Hippeau, Standard Capital, Twenty Two Ventures.
- Where is Magic headquartered?
- Magic is headquartered in New York City, US.