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.

Magic

DefunctYC S22

New York City, US · Founded 2022 · 10 employees · 9 known investors

Find your way into Magic

32 people in our graph share verified history with the Magic team — schools, employers, funds. One of them is your warm intro.

Markus Fuhrmannunlockedknows Justin Swart · together at Bitkraft Esports Ventures

×7knows the team · via Bitkraft Esports Ventures

×4knows the team · via Yale Young Global Scholars

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.

E-commerce Fintech SaaSPartly Remote

Founders & leadership· Y Combinator alumni (S22)

Magic was founded in 2022 by Chetan Kulhari and David Guo.

Chetan Kulhari inCo-Founder & CEO2022–2024Partner at Bitkraft Esports Ventures

David GuoinCo-Founder

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 overlap

MagicLink7 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 is a form-building and data collection platform that enables field teams to capture data on mobile and web devices, with offline capabilities and workflow automation. The platform serves professional teams across various industries needing structured data collection, inspections, and task management.

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

Magic Patterns Raises $6M Series A and Launches Magic Patterns 2.0startuphub.ai · Nov 2025

Magic Raises $10 Million in Seed Roundthesaasnews.com · Oct 2025

Magic Lantern Is Backmagiclantern.fm · Aug 2025

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.