Augustus has raised $180 million at a $1 billion unicorn valuation, led by Tiger Global, to give international fintechs and banks direct access to US dollar clearing through a federally chartered bank.
CEO Ferdinand Dabitz, 25, a German Thiel Fellow, is on track to become the youngest CEO of a federally chartered US bank in over 140 years, pending full OCC approval expected in Q3 2026.
The founders of Nubank, Ramp, Circle and Deel have personally backed Augustus, a signal from the operators who built the last decade of fintech that owning banking infrastructure now matters more than renting it.
Most 25-year-olds do not get conditional approval from the US Office of the Comptroller of the Currency to charter a national bank. While, Ferdinand Dabitz, the German-born Thiel Fellow co-founded a fintech startup in his early twenties, secured one of fewer than ten US national bank charter approvals granted since 2010, and has just raised $180 million at a $1 billion unicorn valuation. Pending final OCC sign-off, he is about to become the youngest CEO of a federally chartered US bank in over 140 years.
Augustus, formerly known as Ivy, has closed a $180 million Series B led by Tiger Global, with participation from Hummingbird, QED Investors, and personal checks from the founders of Nubank, Ramp, Circle and Deel. Total funding now stands at $210 million since the company was founded in 2022 by Dabitz alongside Joshua Becker, Simon Wimmer, and Peter Lieck.
