Augustus raises $180 million at a $1 billion valuation

Augustus raised $180 million in a Series B at a $1 billion valuation, led by Tiger Global with participation from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel. The round takes the company's total raised to $210 million.

Founded in 2022 by Ferdinand Dabitz, Joshua Becker, Simon Wimmer and Peter Lieck, Augustus is building what it calls a global dollar bank: clearing infrastructure giving fintechs and banks outside the United States direct access to dollar settlement rather than routing through correspondent banking. It already processes payments for Kraken.

The pitch treats stablecoins as settlement rails inside a regulated clearing entity rather than as an alternative to one.

Correspondent banking is the layer most stablecoin infrastructure has tried to route around; capitalising a clearing bank to sit inside that layer instead is a bet that the regulatory perimeter is where the durable margin sits.