Augustus Completes $180 Million Financing Led by Tiger Global

Augustus has completed a $180 million financing round aimed at expanding its USD payment infrastructure. This funding round brings Augustus's valuation to $1 billion, led by Tiger Global Management, with participation from Hummingbird Ventures, QED Investors, and founders from Nubank, Ramp, Circle, and Deel. This financing comes at a time when banks, fintech companies, and crypto firms are upgrading their cross-border payment infrastructures. Augustus is focusing on the correspondent banking system, believing that there are bottlenecks in the distribution of financial services at the clearing bank level. CEO Ferdinand Dabitz pointed out that traditional clearing systems are slow, not available around the clock, require two days for settlement, and are closed on weekends.

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