$180 million raised to build a US national bank.
@augustus_bank has received one of only 8 conditional OCC approvals since 2010. A rare feat.
"For our technology team, our fintech team, it just was not possible. The interesting insight we had at Augustus, maybe one and a half years ago, was that it might be somewhat possible again. It might be hard, very expensive, and a massive pain, but maybe there's a world where we can get a US national charter, and we can actually pull it off."
"You hire the bank executives, and you get the suit and the tie, and you go to DC a thousand times, and you do all of these things, and you do them with great joy. I've been a big fan of the experience."
@FerdiDabitz, Co-Founder and CEO of Augustus on Stabledash live.
Augustus raised a $180M Series B at a $1B valuation to accelerate our mission to dollarize the world — giving financial institutions around the world direct, programmable access to dollar accounts and rails.
This round was led by Tiger Global, with participation from
@QEDInvestors,
@HummingbirdVC, existing investors, the founders of Ramp, Deel, Nubank, Circle and many more.
Two months ago, we secured conditional OCC approval for a national bank charter. Now, we have the funding to match the vision: building the Global Dollar Bank.
Link to the full story with Bloomberg in the comments.
Long Live Augustus!
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