Augustus raised $180 million in Series B financing at a $1 billion valuation, led by Tiger Global, according to an announcement on Tuesday. The U.S. fintech is building a federally chartered national bank designed to give international fintechs and banks direct access to USD accounts and payment rails. Augustus plans to use the capital to expand its service offerings to fintechs and banks in Latin America, Southeast Asia, the Middle East and Africa. The company is part of a wave of conditional national bank charter recipients from the Office of the Comptroller of the Currency during Trump's second term.
Tiger Global Leads Augustus $180 Million Series B Financing
Tiger Global led Augustus' $180 million Series B financing round, with participation from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel, according to the announcement. Additional investors include Balaji Srinivasan, Soma Capital, Road Capital Management, CMT Digital, Brevan Howard Digital and Variant. Augustus is now valued at $1 billion and has raised $210 million to date.
Augustus Builds USD Banking Platform for International Fintechs
Augustus is building what it calls the "Global Dollar Bank" --- a modern, federally chartered national bank designed to give international fintechs and banks direct access to USD accounts and payment rails. The company's offering includes stablecoin support alongside traditional payment rails including SWIFT, ACH and SEPA, according to a press release. Augustus' core banking platform, called Marble, offers round-the-clock settlement times and uses AI for other features. Instead of routing through layers of traditional correspondent banks, Augustus offers an API-first platform for virtual accounts and transactions. Kraken, operated by parent company Payward, is among Augustus' clients, according to the announcement.
Augustus Plans Expansion to Four Global Regions
Augustus plans to use the capital to expand its service offerings to fintechs and banks in Latin America, Southeast Asia, the Middle East and Africa, according to the announcement. "We started Augustus with a simple thesis: the Dollar is the greatest product in the world, but its distribution is fundamentally broken," Augustus CEO and co-founder Ferdinand Dabitz said. "This financing lets us execute on our mission to provide high-quality dollar access to international fintechs and banks. It's time to dollarize the world." Augustus notes it has a "mission to dollarize the world." In the announcement, Augustus pointed to the digital yuan CBDC and the BRICS currency alignment as potential greenback competitors.
Augustus Receives Conditional OCC National Bank Charter
The firm is part of a wave of conditional national bank charter recipients from the Office of the Comptroller of the Currency during Trump's second term. Several stablecoin businesses, including Circle, have applied for OCC approval, and many have been conditionally approved. Payward, parent company of Kraken, has filed an application with the OCC for a national trust company charter. Kraken was the first digital asset firm to receive a Federal Reserve Master Account.
FAQ
What did Augustus announce on Tuesday?
Augustus announced it raised $180 million in Series B financing at a $1 billion valuation, led by Tiger Global, with participation from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel.
What does Augustus' Global Dollar Bank offer?
Augustus offers international fintechs and banks direct access to USD accounts and payment rails through its federally chartered national bank. The company's Marble platform supports stablecoin transactions alongside traditional payment rails including SWIFT, ACH and SEPA, with round-the-clock settlement times and AI features.
Where does Augustus plan to expand its services?
Augustus plans to use the Series B capital to expand its service offerings to fintechs and banks in Latin America, Southeast Asia, the Middle East and Africa.
