Founded2019
HeadquartersUAE
FoundersMohammad Raafi Hossain, Daniel Ahmed
IndustryFinancial Services, Fintech

About

Fasset is a UAE-based fintech that describes itself as an AI-powered stablecoin neobanking platform offering remittance, settlement, banking and investment services. Founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed, it announced a $68 million Series C led by SBI Group in August 2026, at a reported valuation of $1 billion.

Key figures

$68 millionSeries CAugust 2026led by SBI Group
$1 billionReported valuationAugust 2026company figure
$40 billion+Annualised transaction volumeCompany-reported
3 million+WalletsCompany-reported
125CountriesCompany-reported
1,000+Enterprise clientsCompany-reported

Figures are as published by the sources listed on this page. Where a figure comes from the company itself we have not audited it.

Objectives and priorities

  • Invest more in agentic-AI-enabled systems for corridor banking, stablecoin settlement and tokenised-asset infrastructure (company statement on the Series C).

Scope of operations

  • Remittance and settlement using stablecoins
  • Banking and investment services using digital assets
  • Assets exchange launched in the UAE in 2024

Founders and key people

Timeline

  1. 2019Founded by Mohammad Raafi Hossain and Daniel Ahmed
  2. 2024Assets exchange goes live in the UAE
  3. 2026$51 million Series B (May)
  4. 2026$68 million Series C led by SBI Group (August)

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