Jeeves raises USD 180 million Series C at USD 2.1 bln valuation

Thursday 24 March 2022 12:55 CET | News

US-based fintech Jeeves has announced it secured USD 180 million in funding at USD 2.1 billion valuation within one year of public launch.

Since 2021, the company has raised over USD 380 million. Jeeves will use the capital to fuel its global expansion across Latin America, Canada, and Europe, scale its proprietary infrastructure to cover more currencies, acquire top-tier talent, and accelerate the onboarding of new companies to the platform.

Fuelled by demand, Jeeves has doubled its client base to more than 3000 companies and has grown revenue by 900% since the Series B in September 2021. The startup generated more revenue in the first two months of 2022 than all of 2021 combined. In tandem with its revenue growth, the company also announced that it crossed USD 1+ billion in annualised gross transaction volume (GTV), averaging a 76% month-over-month growth.

The fintech currently serves companies across 24 countries. Its client base consists of startups, ecommerce, and SMEs, including Bitso, Kavak, Belvo, Runa, Merama, Moons, Convictional, Muncher, Platzi, Worky, Beek, Revive Superfoods, Spare, and more. Jeeves is available in North America, Latin America, the UK, and Europe. Supported by its proprietary Banking-as-a-Service infrastructure, Jeeves aims to cover 40+ countries until 2025.

Jeeves is an all-in-one corporate spend and expense management platform for businesses in global markets including Mexico, Colombia, Chile, Peru, Canada, the UK, and Europe. Cash, corporate cards, and cross-border payments all run on the Jeeves proprietary infrastructure which allows companies to spin up their finance function. The company can also handle multiple currencies for payback.

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Keywords: corporate card, spend management, ecommerce, BaaS, cross-border payments, SMEs
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce