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

Who are Magic's investors?

Magic's investors include Alumni Ventures, Soma Capital, Y Combinator, Bling Capital, ESSENCE VC, Floodgate, General Catalyst, Goodwater Capital and 5 more.

Where is Magic headquartered?

Magic is headquartered in New York City, US.

Magic

DefunctYC S22

New York City, US · Founded 2022 · 10 employees · 15 known investors

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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.

Also known as Vanndelay Industries Inc.

E-commerce Fintech SaaSPartly Remote

Founders & leadership· Y Combinator alumni (S22)

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

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

David GuoCo-Founder

Renasha Mishra

Investors · 15

Alumni Ventureslisted by Alumni VenturesManchester · $100K – $10M

How we know: Y Combinator's founder network · av.vc · Not right? Tell us

Soma Capitallisted by Soma CapitalSacramento · $100K – $300K

How we know: Y Combinator's founder network · somacap.com · Not right? Tell us

Y Combinatorlisted by Y CombinatorSan Francisco · $500K

How we know: the Y Combinator directory · press coverage · Not right? Tell us

Bling CapitalreportedMiami Beach · $1M – $5M

How we know: thesaasnews.com · Not right? Tell us

ESSENCE VCreportedBothell

How we know: press coverage · Not right? Tell us

FloodgatereportedMenlo Park · $500K – $5M

How we know: thesaasnews.com · Not right? Tell us

General CatalystreportedSan Francisco · $30M

How we know: Y Combinator's founder network · Not right? Tell us

Goodwater CapitalreportedBurlingame · $5M – $50M

How we know: Y Combinator's founder network · Not right? Tell us

Hummingbird VenturesreportedBrussels · $500K – $10M

How we know: Y Combinator's founder network · Not right? Tell us

Lerer HippeaureportedNew York · $500K – $2M

How we know: thesaasnews.com · Not right? Tell us

Standard CapitalreportedSan Francisco

How we know: funding news · press coverage · Not right? Tell us

Twenty Two VenturesreportedPalo Alto · $50K – $250K

How we know: press coverage · Not right? Tell us

Venture Investment AssociatesreportedPeapack

How we know: Y Combinator's founder network · Not right? Tell us

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.

Related companies · 3

MagicLinkMagic 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.

DeviceMagicDevice 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.

MagicalMagical 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 working in the same space as Magic.

Legal entities · 1

corporate structure

Vanndelay Industries Inc.

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 Alumni Ventures, Soma Capital, Y Combinator, Bling Capital, ESSENCE VC, Floodgate, General Catalyst, Goodwater Capital and 5 more.
Where is Magic headquartered?: Magic is headquartered in New York City, US.