UAE-based fintech Fasset has raised $68 million in Series C funding at a $1 billion valuation, reaching unicorn status. Japan’s SBI Group led the round, with participation from Speedinvest.
Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset operates an AI-powered stablecoin neobanking platform for individuals, businesses and institutions. Its services cover receiving, holding, transferring, spending and investing across currencies and asset classes.
The round follows a $51 million Series B announced in May 2026, taking Fasset’s funding raised this year to $119 million and its total funding since inception to more than $150 million.
The company said it will use the new capital to expand Own Network, its regulated financial infrastructure connecting banks, telecom operators, payment and liquidity providers across more than 100 banking corridors. It also plans to invest further in agentic AI, stablecoin settlement and tokenised asset infrastructure.
Fasset said it processes more than $40 billion in annualised transaction volume, serving over 3 million wallets across 125 countries and more than 1,000 enterprises. The investment also expands its relationship with SBI Group and supports its focus on cross-border financial infrastructure across emerging markets.
Source: Wamda
