Kast, the stablecoin-native fintech platform founded by former Circle executive Raagulan Pathy, has closed an $80 million Series A funding round and is rolling out a new business-focused platform designed to bring enterprise payouts, payroll, and cross-border payments onto stablecoin rails.
The round, co-led by QED Investors and Left Lane Capital with participation from Peak XV Partners, HSG, and DST Global Partners, values the company at roughly $600 million. For a startup that only came into existence in July 2024, that’s a rather brisk ascent.
From consumer app to business platform
Kast has spent its first chapter building a consumer-facing product: USD-denominated accounts, Visa debit cards, and the ability to send and receive money across more than 170 countries. The platform reports over 1 million users and annualized transaction volume approaching $5 billion.
Now comes chapter two. The company is launching Kast Business, a platform aimed at onboarding enterprises that need to move money globally without wrestling with legacy banking infrastructure. The target is between 1,000 and 5,000 active businesses on the platform by the end of 2026.
