KAST, a NYC-based provider of a global financial platform, has raised $80 million in a Series A funding round led by QED Investors and Left Lane Capital.
The round also saw participation from returning investors Peak XV Partners, HSG and DST Global Partners.
Read More:Voomi Supply Raises $10M in Series A Funding
The company plans to use the funds to expand in Latin America, North America, and the Middle East, while also speeding up licensing, compliance, product development, and hiring.
The company said it is building a stablecoin-powered financial platform designed to help people and businesses move money across borders more easily. The focus is to make it simpler to earn globally, hold funds digitally, and spend locally through one platform.
They said this shift is important because moving money across borders still takes too long, costs too much, and involves too many steps for many people. It added that demand for better financial infrastructure is growing rapidly.
Since its launch, KAST has grown to more than one million users. It is processing nearly $5 billion in annualised transaction volume, showing the rising use of stablecoin-based financial services beyond trading and crypto-native use cases.
They said it is building solutions to support this change, KAST connects digital dollars with local payout systems in supported markets, giving users a simpler way to move money between digital assets and traditional financial systems.
Raagulan Pathy, Founder and CEO of KAST, said the latest funding, raised less than 18 months after launch, shows strong investor confidence in the stablecoin idea and in KAST’s ability to build it at a global scale. He added that the company’s goal is to become the leading platform for the stablecoin ecosystem for both consumers and businesses.
Nigel Morris, Co-founder and Managing Partner at QED Investors, said stablecoin technology has the potential to reshape the future of finance and added that the firm is excited to lead the investment round in KAST.
Sandeep Patil, Partner at QED Investors, said fintech is built on trust even though it looks like software, and added that stablecoins are quickly becoming the always-on dollar layer for moving and storing value across borders and assets.
About KAST
Founded in 2023 by CEO Raagulan Pathy, KAST offers USD-based accounts, global pay-ins and payouts to over 190 countries, and a growing set of financial tools for consumers, and businesses built on stablecoin networks instead of traditional payment systems.
Read More:Zcash Open Development Lab Raises $25M in Funding
