Dubai Fintech Fasset Reaches $1 Billion Valuation, Achieving Unicorn Status

Dubai-headquartered financial technology company Fasset has raised $68 million in Series C funding at a $1 billion valuation, placing the privately held business in the group of startups commonly described as unicorns.

The round was led by Japan’s SBI Group and follows a $51 million Series B completed in May. Together, the two rounds brought Fasset’s funding raised during 2026 to $119 million.

New Capital Targets Payment Infrastructure

Fasset said it will direct the new capital toward Own Network, its infrastructure for connecting banks, telecommunications companies, payment providers, liquidity sources, custodians and settlement systems. The network is designed to move value across more than 100 banking corridors, with stablecoins used for settlement on some routes. Customers access those services through Fasset accounts and products rather than handling the underlying blockchain processes themselves.

Part of the investment is also earmarked for what the company calls agentic AI systems. In practical terms, Fasset wants software to help select how a transaction travels across available payment rails, currencies, liquidity providers and settlement methods. Cost, speed and availability are among the factors considered when a route is chosen.

The plan gives the financing a broader purpose than adding features to a consumer app. Fasset offers accounts, payments and access to assets, but Own Network is intended to operate behind those services as connective infrastructure.

SBI Relationship Moves Beyond Investment

SBI Group’s lead role builds on its participation in Fasset’s earlier financing. The May Series B announcement named SBI Group, Investcorp and Arz Portföy among the investors. Fasset’s Series C release said Speedinvest had also joined its shareholder base through that earlier round.

The two companies have also moved into an operating relationship. Fasset and SBI Remit, SBI Group’s international money-transfer business, announced a partnership in June focused on cross-border payments and stablecoin settlement. SBI’s own August 24 investment notice confirms that the companies signed a memorandum of understanding to develop next-generation international remittance infrastructure. Any resulting volumes, launch dates and customer availability were not quantified in the Series C announcement.

SBI’s formal notice provides the clearest outside confirmation of the headline valuation: it says the acquisition price used in the additional investment places Fasset’s corporate value at $1 billion. The Japanese financial group also said it plans to make Fasset an equity-method affiliate through further stake purchases, jointly operate a digital bank in Malaysia and distribute tokens issued by Fasset. No schedule or financial terms were given for those proposed steps. Yoshitaka Kitao, representative director, chairman, president and CEO of SBI Holdings, described Fasset as a potential bridge between Japan and higher-growth markets.

Scale Claims Meet a Regulated Dubai Base

Fasset reported more than $40 billion in annualized transaction volume, over 3 million wallets and more than 1,000 enterprise customers across 125 countries.

The annualized figure expresses Fasset’s recent transaction activity as a 12-month rate. Combined with its wallet and enterprise figures, it illustrates the scale of the company’s reach across consumer, business and institutional markets.

The $1 billion valuation reflects the terms of Fasset’s latest private financing round rather than the amount raised. With $119 million secured across two funding rounds in 2026, the company now has additional capital to expand its stablecoin settlement network, develop its AI-assisted payment systems and pursue deeper partnerships across international markets.