Augustus raises $180 million Series B at $1 billion valuation to build the 'Global Dollar Bank'

VC giant Tiger Global has led banking startup Augustus’ $180 million Series B financing round, with participation from Hummingbird, QED and the founders of Nubank, Ramp, Circle and Deel, according to an announcement on Tuesday.

Augustus is a U.S. fintech building a modern, federally chartered national bank — what it calls the "Global Dollar Bank" — designed to give international fintechs and banks direct access to USD accounts and payment rails.

Part of its offering involves stablecoins, alongside its support for traditional payment rails including SWIFT, ACH and SEPA, according to a press release. Augustus’ "core banking platform," called Marble, offers round-the-clock settlement times and uses AI for other features.

Instead of routing through layers of traditional correspondent banks, Augustus offers an API-first platform for virtual accounts and transactions.

Augustus, now valued at $1 billion, plans to use the capital to expand its service offerings to fintechs and banks in Latin America, Southeast Asia, the Middle East and Africa, according to the announcement. It has raised $210 million to date.