Kast has raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital.
The round also included existing investors Peak XV Partners, HSG, and DST Global Partners.
The funding comes as the use of Stablecoin continues to grow worldwide, with more investors supporting startups that offer digital-dollar accounts. According to Bloomberg, the new funding values Kast at about $600 million.
In a statement, Kast said it will use the new capital to expand across Latin America, North America and the Middle East. The company also plans to speed up efforts on licencing, compliance, product development and hiring.
Kast founder and CEO Raagulan Pathy 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.
“Kast’s mission is to build the future of finance, powered by stablecoins and designed for the founders, creators and forward thinkers left behind by the traditional banking system. The platform is built for the global ambitions of individuals, not simply finance around processes and platforms, so they can get to wherever they want in life.
“Our end game is clear, to be the leading neobank for the stablecoin world, both for consumers and businesses. The pace at which we move, the team, and the world-class talent we’re attracting will play out further in 2026 and beyond.”
Kast was founded in July 2024 and offers US dollar–based accounts along with global payment services. Its platform allows users to send and receive money in more than 190 countries. The company’s leadership team is based in Singapore.
Since launching, Kast says it has grown to over one million users and processes nearly $5 billion in annual transaction volume. The company expects its revenue to reach a $100 million annual run rate by 2026.
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