Fasset secures unicorn status with $68mn Series C funding

According to Business Recorder, Fasset, a fintech that uses artificial intelligence and stablecoins, announced on Monday a $68 million Series C round valuing it at $1 billion. The round was led by SBI Group, and it follows a $51 million Series B closed in May 2026 that also brought Speedinvest onto the company's shareholder list. With the new capital, its total for 2026 reaches $119 million, and the deal marks its entry into the global fintech unicorn category.

The fresh funds will go toward growing Own Network, a regulated system that links banks, telcos, and payment and liquidity providers so transactions can settle across borders. Fasset also plans to put more money into agentic AI tools, covering tokenised assets, stablecoin settlement and corridor banking. Co-founders Mohammad Raafi Hossain and Daniel Ahmed launched the firm in 2019, and it has taken in over $150 million while serving customers in more than 125 countries.

SBI Group's investment expands an existing relationship, with the Japanese group active in banking, brokerage, fund management and private equity. CEO Mohammad Raafi Hossain said the backing gives Fasset access to the wider SBI ecosystem, including its partnership with SBI Remit. In February 2026, Fasset agreed a partnership with Habib Rafiq Limited to tokenise real-world assets in Pakistan, a market it estimates at $1.5 trillion.