Dubai-based fintech Fasset has crossed the USD 1 billion valuation threshold after closing a USD 68 million Series C funding round led by Japan's SBI Group.
Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset provides digital banking, payments, and investment services, using stablecoin and blockchain infrastructure to facilitate cross-border money movement.
The Series C brings total capital raised in 2026 alone to USD 119 million. Proceeds will fund expansion of agentic AI-enabled systems supporting corridor banking, stablecoin settlement, and tokenised asset infrastructure.
The company currently processes more than USD 40 billion in annualised transaction volume, serving over 3 million wallets across 125 countries and more than 1,000 enterprises globally, with regulated operations spanning the GCC, Asia, and Europe. The raise comes as MENA startup funding fell 22% year-on-year to UD 1.35 billion across 214 deals in H1 2026, per Magnitt data.
Gulf Economist Staff Writer