Jeeves has raised $110 million in equity funding to expand its stablecoin-native banking platform for global enterprises, while also launching a proprietary stablecoin wallet capable of making payouts to 190 countries.
The round was led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator, and other investors.
Jeeves said revenue has increased 4x during the past 14 months, while total transaction volume has tripled year-over-year to more than $5 billion in annualized platform volume.
Stablecoin transactions have emerged as one of the company’s fastest-growing businesses. Stablecoin-settled activity increased from effectively zero eight months ago to approximately $1.5 billion in annualized volume.
Jeeves serves thousands of companies across technology, mobility, financial services, retail, and e-commerce. Customers include BMW, H&M, Lululemon, Burger King, Kavak, and XP, and more than 80% of customers use multiple Jeeves products.
Its platform includes corporate cards, accounts payable, treasury payments, spend management, and AI-powered financial workflows. Jeeves uses stablecoin infrastructure to move funds between markets more quickly than traditional correspondent banking networks.
Jeeves is also expanding its stablecoin card offering from 25 to 35 countries, adding markets including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay, and Uruguay. The company is opening an office in Madrid to support further global expansion.
Alongside the funding, Jeeves is introducing a proprietary stablecoin wallet, global AI spend tracking, and a new accounts receivable module, creating a broader financial operating system for companies conducting business across multiple countries.
KEY QUOTES:
“The enterprises that choose Jeeves are global by default, requiring corporate cards, accounts payable, treasury payments, and financial automation that span continents, and every one of them is tired of legacy infrastructure that wasn’t built for that. We built Jeeves as a banking platform on stablecoin rails because that’s the only way to give companies the same speed and cost structure moving money between São Paulo and Berlin that they get transacting within one country.”
Dileep Thazhmon, Founder and CEO of Jeeves
“Stablecoins are fundamentally changing finance for enterprises, but thus far, very few companies have created robust stablecoin-based infrastructure ideally suited to enterprises. Jeeves has built a full enterprise stack that allows enterprises to run their day-to-day operations, corporate cards and invoice payments atop stablecoins, bringing speed, modern money capabilities and much lower costs to their customers.”
David Pakman, Managing Partner and Head of Venture Investments at CoinFund