KAST, a US-based financial platform built on stablecoin rails, has raised USD 80 million in a Series A funding round co-led by QED Investors and Left Lane Capital. Returning investors Peak XV Partners, HSG, and DST Global Partners also participated. The company will use the capital to expand across Latin America, North America, and the Middle East, and to accelerate licensing, compliance, product development, and headcount growth.
Founded in July 2024 by former Circle executive Raagulan Pathy, KAST offers USD-denominated accounts. Through stablecoin rails, the platform enables global pay-ins and payouts to more than 190 countries, along with a suite of consumer and business financial tools. The company has scaled to more than one million users since launch and is processing nearly USD 5 billion in annualised transaction volume.
Revenue has doubled since the end of September 2025, with the company targeting a USD 100 million annual run rate in 2026. Planned product expansion in 2026 includes the launch of KAST Business as part of a broader neobank services offering. Sandeep Patil, Partner at QED Investors, who will join the board, said stablecoins are rapidly becoming an always-on dollar layer for moving and holding value across borders.
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