Fasset Reaches $1B Valuation in $68M Series C Funding

Dubai-based fintech innovator, Fasset, has officially joined the coveted unicorn club, surpassing a $1 billion valuation following a significant $68 million Series C funding round. The investment was spearheaded by Japan’s prominent financial services conglomerate, SBI Group, with participation from existing investor Speedinvest. This latest capital infusion underscores strong market confidence in Fasset's mission to democratize global financial access.

The substantial funding propels Fasset's total capital raised in 2026 to an impressive $119 million, building on its earlier $51 million Series B earlier this year. Since its inception in 2019, the company has secured over $150 million, a testament to its rapid growth and strategic vision. Fasset's platform leverages AI-powered stablecoin neobanking to facilitate seamless cross-border transactions, enabling individuals, businesses, and institutions to manage, transfer, and invest assets across diverse currencies and asset classes.

This new funding is earmarked for the aggressive expansion of Fasset's Own Network, a regulated financial infrastructure designed to connect a wide array of entities including banks, telecommunication operators, and payment providers. This network aims to streamline settlements across more than 100 international banking corridors. Furthermore, the capital will fuel continued advancements in agentic AI, stablecoin settlement technologies, and the infrastructure for tokenized assets, positioning Fasset at the forefront of next-generation financial services.

Fasset's operational scale is already considerable, reporting an annualized transaction volume exceeding $40 billion. The platform supports over 3 million wallets globally, spanning 125 countries, and serves more than 1,000 enterprises. This reach highlights the critical need for efficient, accessible financial rails in emerging markets and beyond. The company's co-founder and CEO, Mohammad Raafi Hossain, emphasized their commitment to rebuilding banking from the ground up, focusing on "any-to-any banking" – connecting any person, any asset, and any rail, irrespective of geographical limitations.

The strategic involvement of SBI Group, a diversified financial powerhouse with interests in banking, securities, and asset management, is particularly noteworthy. Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings, Inc., expressed conviction in Fasset's potential to act as a vital financial bridge, connecting Japan with high-growth markets. This partnership aligns with SBI's vision for an "SBI APAC Digital Economic Zone," where stablecoin-based remittance and settlement infrastructure plays a pivotal role. SBI Group's existing investments in companies like Ripple and Circle, and its group companies such as B2C2, further solidify this synergistic relationship.

Speedinvest, through General Partner Stefan Klestil, reiterated its continued support, recognizing Fasset's dedication to building regulated infrastructure that grants individuals and businesses in growth markets access to stablecoins, global assets, and cross-border payment systems. The fintech sector continues to see robust investor appetite, particularly for platforms addressing inefficiencies in traditional finance. Fasset's focus on regulated infrastructure and AI-driven solutions places it in a strong position to capture a significant share of the evolving global payments and digital asset market, estimated to grow substantially in the coming years.