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Kast, a global financial platform built on stablecoin infrastructure, has raised $80 million in a Series A funding round co-led by QED Investors and Left Lane Capital.
The company was founded in July 2024 by Raagulan Pathy, a former executive at Circle. Kast provides U.S. dollar–denominated accounts along with global pay-in and payout services covering more than 190 countries. Its platform also offers a growing suite of consumer and business financial tools built on stablecoin-based infrastructure rather than traditional payment settlement networks.
Since its launch, Kast has expanded rapidly, reaching more than one million users and processing close to $5 billion in annualised transaction volume. The growth reflects increasing adoption of stablecoin-powered financial services beyond traditional cryptocurrency trading and crypto-native applications.
The company expects revenue to reach an annual run rate of $100 million in 2026. Both user numbers and revenue are currently growing by approximately 15–20% month-on-month, with revenue having doubled since the end of September 2025.
To support its expansion, Kast has built a workforce of more than 250 employees across engineering, compliance, and operations. The company has recruited talent from major fintech and technology firms including Stripe, Revolut, Binance, Circle, and Airwallex.
Pathy said the new funding will be used to expand Kast’s operations across Latin America, North America, and the Middle East, while also supporting investments in licensing, regulatory compliance, product development, and workforce growth.
According to the founder, the funding round—secured less than 18 months after the company’s launch—signals strong investor confidence in the emerging concept of a stablecoin-focused neobank capable of operating at global scale.
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