Fasset, a Los Angeles-headquartered global banking and investment platform, has closed a $51m Series B funding round.
The round drew participation from Japan’s SBI Group, Istanbul-based asset manager Arz Portföy, Bahrain-headquartered global asset manager Investcorp, and a collection of strategic family offices. The close comes as central banks worldwide seek to modernise international payment infrastructure with tokenisation and blockchain technologies.
Fasset intends to deploy the capital across several strategic priorities. These include accelerating the build-out of regulated, full-service financial infrastructure across its existing network of more than 50 local banking corridors, as well as entering new markets across Asia, Africa and the Americas. The company also plans to triple its retail, business and private banking headcount, expand its US office to develop executive talent, and launch new business lines covering lending, SME banking and trade finance.
The platform currently processes more than $32bn in annualised transaction volume, supporting over two million wallets spanning 125 countries and in excess of 1,000 SME clients worldwide. Its institutional user base grew tenfold during 2025. Fasset recently partnered with Tether, creator of the world’s largest stablecoin, to introduce what it describes as the world’s first gold-backed neobanking card. The company’s AI-powered platform underpins transaction flow optimisation and risk management across its operations.
Fasset is an American-founded banking and investment platform focused on advancing financial inclusion in emerging markets, enabling individuals and businesses to invest from any location globally. It holds regulatory approvals across the UAE, Indonesia, Malaysia, the EU, Türkiye, Pakistan and several additional jurisdictions.
Fasset CEO and co-founder Mohammad Raafi Hossain said, “We are building Fasset for a world where money moves as easily across borders as information does.
“This funding round strengthens our ability to build regulated banking services and expand into new markets where our services are needed most. The Series B provides tangible opportunities to support real-world economic activity, from everyday consumers to SMEs and global trade, on infrastructure that our users can trust.”
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