Augustus has raised USD 180 million in a Series B round led by Tiger Global, valuing the US-based bank at USD 1 billion.
The financing, which also included participation from Hummingbird, QED Investors, and individual backers connected to Nubank, Ramp, Circle, and Deel, brings Augustus' total funding to USD 210 million. Augustus, which describes its business as building a 'Global Dollar Bank', provides financial institutions with direct access to USD accounts and payment rails through a federally chartered banking structure.
Business model and platform
Augustus operates an API-first platform supporting operating and FBO (for benefit of) accounts, alongside named virtual accounts. Customers can settle transactions with first and third parties through Swift, ACH, and SEPA networks, as well as stablecoins. The company has stated it will continue investing in Marble, its proprietary core banking platform, which is designed to support faster settlement and continuous availability by applying automation across back-office functions.
According to the company, its customer base includes fintechs and banks across Latin America, Southeast Asia, the Middle East, and Africa, with Kraken cited as one of the entities currently processing volume through the platform.
Regulatory background
The funding round follows conditional approval granted to Augustus in May 2026 by the Office of the Comptroller of the Currency (OCC) for a US national bank charter. The company states this makes it the eighth institution to receive such conditional approval since 2010, and positions it among a limited number of technology companies authorised to build federally regulated banking infrastructure domestically. A national charter would allow Augustus to offer direct dollar access to customers rather than routing transactions through intermediary banks.
Market context
The company has positioned its expansion against a backdrop of alternative cross-border clearing initiatives, referencing the launch of China's digital yuan and Russia's proposed BRICS Pay system as developments that could challenge the role of the US dollar and the EUR in international settlement. Augustus has framed its platform as an alternative within this environment, aimed at correspondent banking infrastructure that the company describes as having seen limited technological change to date.
Investors participating in the round also include Soma Capital, Road Capital Management, CMT Digital, Brevan Howard Digital, and Variant, alongside individual investors connected to companies such as Slash, Revolut, Coinbase, Rain, Etched, Synthesia, Celonis, Fluidstack, and n8n.
Augustus has indicated that the new capital will be directed toward continued expansion of its dollar-clearing services for fintechs and banks in the regions it currently serves, alongside further development of its core banking technology.
