Fin.com raises $20M seed to fix stablecoins' last-mile problem
What's the deal? New York-based Fin.comDealroom has a profile for this one. Try Dealroom → emerged from stealth on Tuesday with a $20 million seed round to build global stablecoin payment infrastructure. ExpaDealroom has a profile for this one. Try Dealroom → and Uber cofounder Garrett CampDealroom has a profile for this one. Try Dealroom → led the financing, which closed in August.
Who else backed it? Coinbase Ventures, Tenet Fund, the founders of FigureDealroom has a profile for this one. Try Dealroom →, Mesh founder Bam Azizi, Second Sight VenturesDealroom has a profile for this one. Try Dealroom →, and sovereign and royal family offices in the Gulf and Africa joined. The founders declined to disclose FinDealroom has a profile for this one. Try Dealroom →.com's valuation.
What does it do? Fin.com sells white-label payment tools to businesses, including financial services firms, consumer platforms, and prediction markets. Its systems let prediction market users fund wallets from exchanges such as Binance and Crypto.com, and help platforms move corporate funds across borders. The company said its clients collectively serve more than 800 million users.
What's the endgame? Cofounders Nabeel Alamgir and Mustafa Dar want to convert digital dollars into money that reaches local bank accounts and wallets. "We want to solve the last mile delivery problem," Alamgir told Fortune. Both immigrants, they are targeting South Asia, Africa, and the Middle East, with offices in New York, Las Vegas, Dubai, Dhaka, Bangalore, and Lahore.
Why now? Since Congress passed the Genius Act in July 2025, setting a federal framework for dollar-pegged stablecoins, the sector has expanded fast. Its combined market capitalisation topped $305 billion in September, up more than 77% from a year earlier, according to DeFiLlama.
What could go wrong? Alamgir and Dar acknowledged they have entered a crowded market. Rivals include CircleDealroom has a profile for this one. Try Dealroom →, BVNK, and Bridge, the stablecoin infrastructure provider owned by Stripe.
The signal: At $20 million, Fin.com's round sits in the 99th percentile for seed deals among US enterprise software startups, a sign of how much capital is flowing into stablecoin plumbing. As digital dollars circulate more widely, the money is chasing the harder problem: getting them the last mile into the accounts of the underbanked.
Read more: fortune.com
Image credit: Fin
