Augustus Announces $180M Series B at $1B Valuation to Give International Fintechs and Banks Access to the US Dollar

Augustus, the global dollar bank led by Ferdinand Dabitz, Joshua Becker, Simon Wimmer, Peter Mosebjane Lieck, announced a $180 million Series B at a $1 billion valuation. The round was led by Tiger Global, with participation from Hummingbird, QED, existing investors, and the founders of Nubank, Ramp, Circle, and Deel. The round also received backing from leading fintech and AI founders, including David Velez (Nubank), Karim Atiyeh (Ramp), Sean Neville (Circle), Alex Bouaziz (Deel), Victor Cardenas (Slash), Alan Chang (CRO Revolut), Balaji Srinivasan (CTO Coinbase), Farooq Malik (Rain), Gavin Uberti (Etched), Victor Riparbelli (Synthesia), Alexander Rinke (Celonis), Jamie Cox (Fluidstack), and Jan Oberhauser (n8n). Additional new investors in this round include Soma Capital, Road Capital Management, CMT Digital, Brevan Howard Digital, and Variant.

The new funding will accelerate Augustus' mission to expand access to US dollar banking infrastructure by enabling financial institutions worldwide to offer dollar accounts and payment rails through a modern, federally chartered bank. The capital will also support continued expansion across Latin America, Southeast Asia, the Middle East, and Africa.

Augustus offers an API-first banking platform that supports operating and FBO accounts with named virtual accounts, enabling transactions through Swift, ACH, SEPA, and stablecoins. The company will also continue investing in its proprietary core banking platform, Marble, which uses AI to modernize back-office operations, deliver faster settlements, and provide 24/7 banking availability.

The financing follows Augustus' conditional approval for a US national bank charter from the Office of the Comptroller of the Currency (OCC) in May, making it only the eighth institution to receive such approval since 2010. The milestone positions Augustus among a small group of technology companies authorized to build federally regulated banking infrastructure from the ground up, providing customers with direct access to US dollar accounts and payment rails without relying on intermediary banks or fintechs.

Augustus was founded on the belief that while the US dollar is the world's most important currency, access to dollar banking remains fragmented. With the new financing, the company plans to expand high-quality dollar banking infrastructure for fintechs and financial institutions worldwide, advancing its mission to make dollar access more seamless and global.

Augustus is building a modern banking platform from the ground up, combining proprietary technology with the capabilities of a federally chartered bank. By integrating both into a single platform, the company aims to replace legacy infrastructure with a more efficient foundation for global dollar banking.

Correspondent banking has remained one of the last parts of the banking stack largely untouched by fintech innovation. Augustus aims to change that by combining modern technology with a US bank charter, giving international banks and fintechs direct access to a faster, more efficient dollar clearing platform without relying on traditional correspondent banks or middleware providers.

Augustus is being built at a time when the dominance of Western currencies faces growing competition from initiatives such as China's Digital Yuan and Russia-backed BRICS Pay. The company aims to provide a modern Western alternative by expanding direct access to US dollar and euro banking infrastructure, reinforcing the global role of both currencies.

Augustus is led by a team of experienced banking, payments, and regulatory executives with decades of expertise in building and operating financial institutions. The leadership includes former senior executives from the OCC, Column, JPMorgan, and HSBC, bringing deep experience across banking regulation, payments infrastructure, compliance, and global financial services.