Fasset, the AI-powered stablecoin neobanking platform founded by Mohammad Raafi Hossain and Daniel Ahmed, has raised $68 million in a Series C funding round at a $1 billion valuation, officially joining the ranks of global fintech unicorns.
The round was led by SBI Group and follows Fasset’s $51 million Series B earlier this year, bringing the company’s total capital raised in 2026 to $119 million. The latest financing takes the startup’s overall funding to more than $150 million since its founding in 2019.
Fasset will use the fresh capital to expand Own Network, its regulated financial infrastructure connecting banks, telecommunications companies, payment providers, liquidity partners, custody providers and settlement networks across more than 100 banking corridors. The company will also increase investment in agentic AI systems supporting corridor banking, stablecoin settlement and tokenized asset infrastructure.
The investment deepens Fasset’s relationship with SBI Group, one of Japan’s largest financial groups. Yoshitaka Kitao, Representative Director, Chairman, President and CEO of SBI Holdings, said the company sees Fasset as a potential financial bridge between Japan and high-growth markets across Asia-Pacific, the Middle East and Africa.
“Fasset’s vision of a world in which money moves across borders as easily as information does point in the same direction as the on-chain economic zone that the SBI Group seeks to realize through digital finance,” Kitao said.
At the center of Fasset’s strategy is its ambition to build what co-founder and CEO Mohammad Raafi Hossain describes as “any-to-any banking”—enabling any person to transact with any person, across any asset and any financial rail, anywhere.
“The banking system is broken. It’s not enough to build another financial front on current rails,” Hossain said. “We are investing deeper into the stack, from licenses in emerging markets to enabling agentic payments, to rebuild the way we do banking from the ground up.”
Fasset says it now processes more than $40 billion in annualized transaction volume, serves over 3 million wallets across 125 countries and supports more than 1,000 enterprises globally. Its consumer, business and institutional products operate through a regulatory footprint spanning the GCC, Asia, Europe and other international markets.
The Series C will help accelerate Fasset’s global expansion as it seeks to combine regulated financial infrastructure, stablecoin-based settlement, AI-powered transaction routing and access to global assets through a single financial account.
For Fasset, the $1 billion valuation is more than a financial milestone. It represents growing investor confidence in its ambition to build a financial system where access to stable money, global markets and ownership is no longer determined by geography.
