Fasset has reached a US$1 billion valuation after securing US$68 million in Series C funding led by Japan’s SBI Group, marking a major milestone for the global fintech company and Fatima Gobi Ventures (FGV), which backed the business at an early stage. The latest financing brings Fasset’s total capital raised during 2026 to US$119 million.
Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, Fasset has expanded from an emerging-markets fintech into a financial infrastructure platform operating across 125 countries. The company now serves more than three million wallets and over 1,000 enterprise clients while processing more than US$40 billion in annual transaction volume. Revenue has also increased roughly sixfold year-on-year, with the company reporting profitability.
FGV co-led Fasset’s US$22 million Series A in 2022 alongside Liberty City Ventures, investing in the company while it was still developing its technology, regulatory framework and commercial operations. Fasset’s latest valuation makes it the first unicorn in the portfolio of a Pakistan-focused venture capital fund managed by FGV, highlighting the growing potential of Pakistan-linked venture investment.
At the centre of Fasset’s expansion is OWN Network, a regulated financial network connecting banks, telecom operators, payment providers, liquidity providers and settlement partners across international markets. The company uses blockchain infrastructure and stablecoin settlement in selected corridors to facilitate cross-border financial activity and connect traditional banking infrastructure with digital asset networks.
The Series C funding will support further expansion of OWN Network as well as investment in agentic AI systems, cross-border banking corridors, stablecoin settlement and tokenised asset infrastructure. SBI Group’s involvement also adds strategic distribution opportunities, including its existing relationship with SBI Remit, as Fasset continues building financial infrastructure for emerging and international markets.
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