Lahore-Born Co-Founder Daniel Ahmed’s Fasset Hits $1B Valuation as SBI Group Leads $68M Series C

Fasset, an AI-powered stablecoin neobanking platform co-founded by Daniel Ahmed from Lahore, announced today a $68 million Series C funding round, taking the company's valuation to $1 billion. SBI Group led the investment, which will be used to expand Fasset's Own Network, a regulated financial network connecting banks, telcos, payment providers and liquidity providers to enable cross-border settlement.

The funding brings Fasset's total raised capital to $119 million in 2026. The financing underscores Fasset's role in the global fintech unicorn category, aligning with the goals of SBI Group's "SBI APAC Digital Economic Zone" concept. Daniel Ahmed, co-founder and COO, emphasized the company's mission to build a financial system where a person's background should not dictate their access to opportunities.