Fasset Hits $1 Billion Valuation After Raising $68 Million In Series C Funding

(MENAFN- Khaleej Times) Fasset has reached a $1 billion valuation after raising $68 million in Series C funding, taking the fintech into unicorn territory as it looks to expand its stablecoin-based financial network and deepen its use of artificial intelligence.

The latest funding round was led by Japan's SBI Group and follows a $51 million Series B completed in May

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Fasset has raised a total of $119 million so far in 2026.

The company said the fresh capital will be used to expand Own Network, its regulated financial network connecting banks, telecom companies, payment providers and liquidity providers across international markets.

Fasset will also increase investment in agentic AI systems for cross-border banking corridors, stablecoin settlement and tokenised asset infrastructure.

Fasset joins a UAE startup ecosystem that has produced several billion dollar companies, including Dubai based cloud kitchen platform Kitopi, Tabby and Careem.

$40 billion transactions

Fasset currently processes more than $40 billion in annualized transaction volume, serving more than 3 million wallets and over 1,000 enterprises across 125 countries.

Its Own Network connects local banking systems, payment providers, financial institutions, telecom companies, liquidity and custody providers and settlement networks across more than 100 banking corridors.

Stablecoins are used for settlement in parts of the network, while customers access the services through financial products and accounts without having to manage the underlying infrastructure themselves.

Fasset also uses AI to determine how transactions are routed across payment networks, currencies, liquidity providers and settlement methods based on factors such as cost, speed and availability.

SBI eyes links with Middle East

Yoshitaka Kitao Representative Director, Chairman, President and CEO of SBI Holdings, said Fasset had built a strong business and regulatory foundation across emerging markets.

He said SBI sees Fasset as a potential financial bridge between Japan and high growth markets, with the partnership expected to support stablecoin-based international remittance and settlement infrastructure extending from Asia Pacific to the Middle East and Africa.

Mohammad Raafi Hossain Co-Founder and CEO of Fasset said the investment would accelerate the company's ability to expand globally through SBI's wider financial ecosystem and partnerships.

Fasset's previously announced partnership with SBI Remit gives it access to a network supporting bank account remittances to around 200 countries.

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