Fin.com Secures $20 Million Seed Funding with Tenet and Coinbase Ventures

Global stablecoin payment infrastructure startup Fin.com has completed a $20 million seed round. The round was led by XPA, founded by Uber co-founder Garrett Camp, with participation from Coinbase Ventures, venture fund Tenet, founders of Figure, Messie founder Bam Azizi, Second Site Ventures, and sovereign wealth and royal family offices from Gulf and Africa regions. The round closed in August and was reported exclusively by Pohchou on September 15 (local time).

Fin.com provides white-label payment infrastructure that allows businesses to instantly convert stablecoins into local bank accounts across borders. Its main clients include financial service firms, consumer platforms, and prediction markets, with over 800 million combined users currently utilizing its platform. The company focuses on South Asia, Africa, and the Middle East as core markets, operating offices in Dubai, Dhaka, Bangalore, and Lahore.

Co-founded by former Launchbox CEO Nabil Alamgir and 24/7 Jet founder Mustafa Dar, both from Bangladesh and Pakistan respectively, Fin.com was started based on their personal experience with international money transfers. Alamgir stated, "We aim to solve the last-mile delivery problem. Just as important as money leaving one place is ensuring it arrives correctly at its destination." Tenet's CEO Christie Choi explained their investment rationale: "Tenet invested in Fin.com earlier this year. We saw that a really challenging part of global stablecoin adoption isn't moving dollars on-chain, but reconnecting those dollars to regulated local banks and payment networks worldwide."

With the new funding, Fin.com plans to expand its local bank and payment partner network in new markets while enhancing its infrastructure.