US-based Jeeves has raised USD 110 million in an equity round led by CoinFund and launched a stablecoin wallet with payouts to 190 countries.
According to Bloomberg, the funding round included participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, and Y Combinator, among others. Alongside the funding, the company released three new products and expanded its stablecoin card offering from 25 to 35 countries.
Jeeves describes itself as a stablecoin-native banking platform for enterprises operating across multiple markets. Its products include corporate cards, accounts payable and treasury payments, spend management, and agentic workflows. According to the company, more than 80% of its customers use more than one of these products. Its clients work in technology, mobility, financial services, retail, and ecommerce.
The company has grown quickly in the period before the raise. Jeeves reports that its revenue has increased fourfold over 14 months. Total platform volume has tripled year-on-year and now exceeds USD 5 billion on an annualised basis across its card and payments products.
Stablecoin-settled activity is the fastest-growing part of that volume. Eight months before the announcement, this activity on the platform was effectively zero. It now stands at USD 1.5 billion in annualised platform volume. The company attributes the growth to enterprises using Jeeves to move funds between markets where correspondent banking is slow or costly.
Dileep Thazhmon, Founder and CEO of Jeeves, said the platform was built on stablecoin rails for a specific reason. The aim was to give businesses the same speed and cost for transfers between countries, such as Brazil and Germany, that they get for domestic transactions.
Latin American expansion and new products
The ten additional countries extend the company's reach to nearly every market in Central and South America. The new markets include Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay, and Uruguay. With its existing presence in North America, the UK and Europe, the stablecoin card and spend management platform now covers 35 countries. Jeeves is also opening an office in Spain to support the international expansion of its cards and payments offering.
The three new products are:
- a proprietary stablecoin wallet with instant payouts to 190 countries
- a global AI-based spend tracking solution
- an account receivable module
Together, they are intended to let companies move money, track spending, and receive payments within one system. This would replace the separate banks, spreadsheets, and point solutions that businesses otherwise use in each market.
Investor perspective
David Pakman, Managing Partner and Head of Venture Investments at CoinFund, said that few companies have so far built stablecoin-based infrastructure suited to enterprise needs. The representative noted that Jeeves' enterprise stack lets businesses run day-to-day operations, corporate cards, and invoice payments on stablecoins. The investor also cited the company's existing customer base among businesses operating across Latin America, the US, and Europe as a reason for leading the round.
With the new capital and products, Jeeves aims to move from being a payments tool for finance teams to becoming the banking infrastructure enterprises use in every market where they operate.
