KAST, a global financial platform built on stablecoin rails and founded by former Circle executive Raagulan Pathy, has raised US$80 million in a Series A funding round.
QED Investors and Left Lane Capital co-led the round, with returning investors Peak XV Partners, HSG and DST Global Partners also participating.
The funding comes amid growing global adoption of stablecoins, particularly in emerging markets and among internationally mobile workforces, where demand for fast, dollar-denominated payments is outpacing traditional banking infrastructure.
KAST plans to use the capital to expand in Latin America, North America and the Middle East, while accelerating licensing, compliance, product development and recruitment.
Launched in July 2024, KAST provides USD-denominated accounts and global pay-ins and payouts to over 190 countries.
Since launch, it has reached more than one million users and is processing nearly US$5 billion in annualised transaction volume.
Revenue is projected to reach US$100 million annual run rate in 2026, with month-on-month growth of 15-20%, and has doubled since September 2025.
Raagulan Pathy, Founder and CEO, said:
“The latest funding, raised less than 18 months from launch, reflects the confidence of leading investors in the stablecoin neobank thesis, and in KAST’s ability to execute it at global scale. Our end game is clear: to be the leading neobank for the stablecoin world, both for consumers and businesses.”
KAST has hired over 250 staff across engineering, compliance and operations, including from Stripe, Revolut, Binance, Circle and Airwallex, to support its growth.
Featured image credit: Edited by Fintech News Singapore, based on image by smth.design via Freepik
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