Augustus has raised $180 million in a Series B financing round at a $1 billion valuation to expand its banking infrastructure for international financial institutions. The round was led by Tiger Global and brought the company’s total funding to $210 million.
Hummingbird and QED also participated, along with founders and executives associated with Nubank, Ramp, Circle, Deel, Revolut, Coinbase, Slash, Rain, Etched, Synthesia, Celonis, Fluidstack and n8n. Additional investors included Soma Capital, Road Capital Management, CMT Digital, Brevan Howard Digital and Variant.
Augustus is building a federally regulated clearing bank intended to give international fintech companies and banks direct access to U.S. dollar accounts and payment systems. The company plans to use the funding to expand its services across Latin America, Southeast Asia, the Middle East and Africa.
The company’s application programming interface-first platform supports operating accounts and for-benefit-of accounts with named virtual accounts. For-benefit-of accounts allow financial institutions to hold and manage funds on behalf of their customers while maintaining records for each underlying account holder.
Customers can use Augustus to transact with first- and third parties through payment networks, including SWIFT, ACH, and SEPA, as well as stablecoin infrastructure. This combination is intended to help financial institutions manage domestic and cross-border payments through a single banking platform.
Augustus is also investing in Marble, its proprietary core banking system. The company said Marble uses artificial intelligence across back-office banking processes to support faster settlement and continuous availability.
Traditional correspondent banking often requires international institutions to work through several intermediary banks before accessing U.S. dollar payment systems. Augustus is seeking to reduce those layers by combining banking infrastructure, regulatory capabilities, and programmable technology into a single organization.
The financing follows Augustus’s receipt of conditional approval for a U.S. national bank charter from the Office of the Comptroller of the Currency in May 2026. The company said it was the eighth institution to receive conditional approval for a national bank charter since 2010.
Conditional approval allows Augustus to continue building its banking operations but does not represent final authorization to begin all proposed activities. The company must meet the OCC’s conditions and other regulatory requirements before receiving final approval.
Augustus said the charter would allow it to provide direct dollar access rather than relying entirely on intermediary banks and financial technology providers. This structure could give customers greater control over settlement, account administration and payment operations.
The company is already processing billions of dollars for customers, including cryptocurrency platform Kraken. Augustus plans to continue serving fintech companies and banks that need regulated access to dollar clearing and account infrastructure.
Augustus was founded in 2022 by Ferdinand Dabitz, Joshua Becker, Simon Wimmer and Peter Lieck. Its leadership includes executives with backgrounds in banking regulation, global payments, compliance and financial institution management.
KEY QUOTES:
“We started Augustus with a simple thesis: the Dollar is the greatest product in the world but its distribution is fundamentally broken. 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.”
Ferdinand Dabitz, Co-Founder and CEO of Augustus
“After three decades in banking, I’ll say it plainly: you don’t get meaningful innovation by patching legacy infrastructure. You build something new from the foundation up.”
“That’s what Augustus is: modern, proprietary technology fused with the full capabilities of a federally chartered bank into a single integrated platform. In my entire career, I have not seen anything like it.”
Greg Quarles, President of Augustus
“Correspondent banking is the last remaining part of the bank stack that hasn’t been challenged yet by fintechs. Global fintechs and banks have been left either with slow, low-tech incumbent correspondent banks, or middleware fintech providers.”
“Augustus solves this by combining cutting-edge technology with a real bank charter, providing international financial institutions with a modern, direct dollar clearing platform.”
Nigel Morris, Co-Founder of Capital One and Managing Partner at QED Investors
