Augustus Raises $180M Series B Led by Tiger Global at $1B Valuation

According to Bloomberg, US clearing bank startup Augustus has raised $180 million in a Series B funding round led by Tiger Global Management at a $1 billion valuation on July 21. Existing backer Valar Ventures, Nu Holdings co-founder David Velez, and Circle Internet Financial co-founder Sean Neville also participated in the round.

Augustus provides overseas fintechs and banks with access to US dollars and is developing programmable clearing for Western currencies. Earlier this year, the startup received conditional approval from the Office of the Comptroller of the Currency to establish Augustus Bank as a full-service US national bank.