Stablecoin Platform Expansion
Jeeves Raises $110 Million to Expand Global Stablecoin Financial Platform
Anonymous
Key Points
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Jeeves said its revenue quadrupled over the 14 months before the funding announcement, and more than 80% of its customers already use multiple Jeeves products.
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The card expansion includes Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay; Jeeves also plans to open a Madrid office to support its rollout.
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Jeeves said more than half of its international payment volume now uses stablecoin rails, primarily USDC. Its planned corporate wallet will support both USDC and USDT.
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Jeeves was founded in 2019 by Dileep Thazhmon and Sherwin Gandhi; the company said it has raised $570 million from investors in total.
Miami-based Jeeves raised $110 million in equity financing to expand its stablecoin platform for global businesses, CrowdFund Insider reported. The funding, led by CoinFund, comes as the company's annualized payment volume has topped $5 billion and stablecoin transactions reached a $1.5 billion annualized run rate. Companies are increasingly using stablecoins—cryptocurrencies pegged to the US dollar—to speed up cross-border payments and cut costs compared to traditional banking.
Jeeves plans to launch a corporate stablecoin wallet supporting payouts to 190 countries and expand its stablecoin card from 25 to 35 nations, FinTech Futures noted. The company will also add AI-powered spending tools and accounts receivable services. More than 50% of Jeeves' international payment volume now runs on stablecoins, primarily USDC.
Revenue Quadruples as Customers Adopt Multiple Products
Jeeves said its revenue quadrupled in the 14 months before the funding announcement, signaling strong adoption among multinational companies. More than 80% of existing customers now use multiple Jeeves products, indicating the company's shift from a single-function card provider to a broader financial platform. Mexico Business News reported the company's Mexico revenue more than doubled during this period.
Stablecoin Expansion Across Americas and Europe
The stablecoin card will now reach Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. Mexico Business News reported that Jeeves plans to open a Madrid office to support the European rollout. The expansion reflects growing demand from multinational companies operating in Latin America and Europe seeking faster, cheaper alternatives to wire transfers.
Stablecoins Now Drive Half of Payment Volume
Stablecoins have become central to Jeeves' business model. More than half of the company's international payment volume now uses stablecoin rails, primarily USDC, according to Silicon Angle. The new corporate wallet will support both USDC and USDT, giving customers flexibility in choosing which stablecoin to use for their cross-border transactions.
Five-Year Path to $570 Million in Total Funding
Jeeves was founded in 2019 by Dileep Thazhmon and Sherwin Gandhi. The company said it has now raised $570 million from investors in total, including backing from Coinbase Ventures, Andreessen Horowitz, AllianceBernstein, GIC, and Y Combinator. Mexico Business News noted that the funding round also included ParaFi, Vista, Wintermute, and Global PayTech Ventures, underscoring strong institutional confidence in stablecoin-based financial infrastructure.
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