Fasset achieved unicorn status on August 25, 2026, raising $68 million in Series C funding at a $1 billion valuation. SBI Group led the investment round, bringing Fasset’s 2026 fundraising total to $119 million. The milestone carries profound significance for Pakistan’s technology sector.
Co-founder Daniel Ahmed was born in Lahore, making Fasset one of the few global fintech unicorns with Pakistani roots at founder level. Ahmed built Fasset on a core conviction: birthplace should not determine financial access. The company processes more than $40 billion in annualized transaction volume serving 3 million wallets across 125 countries. Fasset operates through regulated entities across the GCC, Asia, Europe and other international markets.
Ahmed emphasized that banking systems remain fundamentally broken. Traditional financial infrastructure restricts opportunity based on geography rather than ambition. Fasset rebuilds banking from the ground up through genuine interoperability. Someone sending value from Malaysia to Pakistan or Japan to the US operates on identical rails without system fragmentation.
Fasset’s Own Network connects banking systems, payment providers, financial institutions, telcos, liquidity providers and settlement networks across 100+ banking corridors. Stablecoins enable efficient value movement between markets where appropriate. AI optimizes transaction routing based on cost, speed and availability factors. Customers interact through financial products without managing underlying infrastructure complexity.
Mohammad Raafi Hossain, CEO and co-founder, stated the next phase involves any-to-any banking. Any person can transact with any person. Any asset moves to any asset. Any rail connects to any rail everywhere. This vision fundamentally reimagines financial access for growth markets.
SBI Group leadership viewed Fasset as a strategic financial bridge. Yoshitaka Kitao, SBI Holdings representative, emphasized that Fasset’s vision aligns with SBI’s on-chain economic zone concept. International remittance infrastructure built on stablecoins serves as a core component. The partnership extends from Asia-Pacific through the Middle East to Africa.
Fasset’s funding announcement coincided with Pakistan’s Virtual Assets Regulatory Authority notifying the country’s first Virtual Asset Services Regulations. The regulatory development formally opens Pakistan’s crypto licensing regime, creating tailwinds for Fasset’s expansion.
Speedinvest, which backed Fasset’s Series B, continued supporting the company. Stefan Klestil emphasized that Fasset builds regulated infrastructure enabling growth market access to stablecoins, global assets and cross-border rails.
