Fincom raises $20m to make remittances faster and cheaper

VoM News Desk | September 19, 2026 | 06:23 AM IST | Business, World | Follow on Google News

Fincom raises $20m to make remittances faster and cheaper

A payments startup cofounded by a Pakistani-born entrepreneur has emerged from stealth with a $20 million seed round, with Lahore among its six offices and South Asia at the top of its target list.

Mustafa Dar was born in Pakistan and lived in Saudi Arabia before his family moved to Los Angeles when he was five. He grew up watching his parents try to send money home — the same experience described by his cofounder Nabeel Alamgir, born in Bangladesh, raised in Kuwait, and a New Yorker since his teens. That shared frustration is the origin story of Fin.com, which announced its raise on Tuesday. Fortune first reported the round.

The financing closed in August, led by Expa, the firm founded by Uber cofounder Garrett Camp, with Coinbase Ventures, Tenet Fund, the founders of Figure, Mesh founder Bam Azizi, Second Sight Ventures, and what the company described only as sovereign and royal family offices in the Gulf and Africa. The founders declined to give a valuation.

The problem they are chasing is one Pakistan knows intimately. Remittances are among the country’s largest sources of foreign exchange, sent overwhelmingly from the Gulf and the UK by workers whose families wait on the other end. Stablecoins have made the long leg of that journey fast and cheap. The short leg has not moved: getting dollar-denominated value out of a digital wallet and into a bank account in Lahore or a mobile wallet in Multan. Fin.com sells white-label infrastructure to financial firms, consumer platforms and prediction markets to close that gap. It declined to name clients but said they reach more than 800 million users between them.

The company is structured around the corridors it wants. Alongside New York and Las Vegas, it runs offices in Dubai, Dhaka, Bangalore and Lahore — the sending end and the receiving end of the same flows — and names South Asia, Africa and the Middle East as its priority markets.

The competition is heavy. Stablecoin market capitalization passed $305 billion in September, up more than 77 percent year on year according to DeFiLlama, after the Genius Act gave dollar-pegged stablecoins a US federal framework in July 2025. Circle, BVNK and Stripe-owned Bridge are working the same routes.

Dar came to the company sideways. He left 24/7 Jet, the private aviation firm he founded in 2012, in 2023 to join Expa as an investor. Alamgir, fresh from leaving the restaurant-technology company Lunchbox, flew to Los Angeles in late 2025 to pitch him on the idea. Dar joined as a cofounder rather than a backer, and Expa partner Vitor Lourenço took his investment slot instead.

VoM News Desk

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