Fasset
Stablecoin-Powered Islamic Bank
Fasset was founded in 2019, is headquartered in Dubai, United Arab Emirates, lists 51–200 employees, and has $141.0M in recorded funding across 4 rounds.
- Headquarters
- Dubai
- Employees
- 51–200
- Founded
- 2019
- Business Model
- B2C
- Website
- fasset.com
- Total Funding
- $141.0M
- Last Round
- $68.0M Series CAug 2026
- Rounds
- 4
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
Indexed holds 4 funding rounds and 5 investors for this company. The full record is or through the API.
About
Fasset is a stablecoin-powered Islamic digital bank and regulated crypto platform founded in 2019 by Mohammad Raafi Hossain and Daniel Ahmed. The platform brings together multi-currency accounts, fast global transfers, instant settlements, a global debit card, and access to interest-free investments across crypto, stocks, funds, and commodities — all powered by the Own Network (Ethereum Layer 2). Licensed as a Virtual Asset Service Provider (VASP) by Dubai's VARA and holding a provisional Islamic banking license in Malaysia, Fasset serves over 2 million community members across 125 countries with operations in Dubai, Islamabad, Jakarta, and Bahrain. In 2025, annualized transaction volume reached billion. The platform integrates compliance infrastructure from Chainalysis, Jumio, and Sift, and partners with Fireblocks for custody, targeting financial inclusion across Asia and Africa.
Summary
Fasset is a Crypto & Web3 company based in Dubai, United Arab Emirates, founded in 2019. It lists 51–200 employees. It has raised $141.0M in total across 4 rounds, most recently a $68.0M Series C round in Aug 2026. Investors include SBI Investment, Liberty City Ventures and Investcorp.
Tech & App Stack
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Funding History
Aug 2026
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Funding: Seed through Series C. Amounts, valuations, and investors where available.
Investors
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