Fasset secures unicorn status with $68mn Series C funding

Fasset, the AI-powered stablecoin neobanking platform that has announced plans to enter Pakistan’s estimated $1.5 trillion real estate and domestic asset market, said on Monday it had raised $68 million in Series C funding at a $1 billion valuation.

The financing was led by SBI Group and follows Fasset’s $51 million Series B earlier this year, which brought Speedinvest onto the cap table alongside a group of strategic investors, read the statement.

The new funds will support the fintech expansion of Own Network, Fasset’s regulated financial network that connects banks, telcos, payment and liquidity providers to enable settlement across international markets, the fintech said.

It will also increase investment in agentic AI-enabled systems supporting corridor banking, stablecoin settlement and tokenised asset infrastructure.

In May 2026, Fasset closed a $51 million Series B funding round. After raising Series B, Fasset has now raised a total of $119 million in 2026. The financing also marks Fasset’s entry into the global fintech unicorn category.

Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset has raised more than $150 million in funding, serves customers across more than 125 countries and operates through regulated entities and partnerships across the GCC, Asia, Europe and other international markets.

“Fasset’s vision of a world in which money moves across borders as easily as information does points in the same direction as the on-chain economic zone that the SBI Group seeks to realise through digital finance,” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings, Inc.

“Together with Fasset, we will advance the development of the next generation of on-chain financial systems, extending from the Asia-Pacific region to the Middle East and Africa,” he said.

The investment expands Fasset’s relationship with SBI Group, one of Japan’s leading comprehensive financial groups, spanning banking, securities, asset management, and private equity, with investments in companies including Ripple, Circle, and Morpho, and in group companies including B2C2.

“The next phase is about any-to-any banking. Any person to any person. Any asset to any asset. Any rail to any rail, anywhere. We built Fasset to address a simple problem: access to financial opportunity still depends too heavily on where someone lives and the financial system available to them,” said Mohammad Raafi Hossain, Co-Founder and CEO of Fasset.

“Having SBI Group lead this round speeds up our ability to serve the world by having access to the wider SBI financial ecosystem and their partners, including our previously announced partnership with SBI Remit, enabling us to leverage an extensive network that supports bank account remittances to approximately 200 countries,” said Hossain.

“Fasset is building the regulated infrastructure that helps people and businesses in growth markets access stablecoins, global assets and cross-border rails. That access is still too often shaped by geography. Raafi, Daniel and the team are changing that, and we are proud to have continued backing Fasset as it scales globally,” said Stefan Klestil, General Partner at Speedinvest.

What does Fasset do?

Fasset provides financial access that allows customers to receive, hold, move, spend and invest across currencies, markets and asset classes.

Underpinning those products is Own Network, Fasset’s financial infrastructure connecting local banking systems, payment providers, financial institutions, telcos, liquidity providers, custody partners and settlement networks across more than 100 banking corridors.

Stablecoins are used within parts of the network as settlement infrastructure, allowing value to move between markets more efficiently where appropriate. Customers interact with Fasset through financial products and accounts rather than needing to manage the underlying settlement infrastructure themselves.

The company uses AI to improve how transactions are routed across payment rails, currencies, liquidity providers, and settlement methods, based on factors including cost, speed, and availability.

In February 2026, Fasset formed a partnership with Habib Rafiq Limited (HRL), a leading infrastructure and real estate development group in Pakistan.

Under this partnership, Fasset planned to enter the Pakistani market, focusing on tokenising real-world assets—specifically Pakistan’s estimated $1.5 trillion real estate and domestic asset market—to create digital investment pathways.