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# Jeeves Raises US$110M to Move Corporate Money on Stablecoin Rails
- URL: https://www.theinvestorsociety.com/jeeves-raises-us-110m-to-move-corporate-money-on-stablecoin-rails/
- Published: 2026-09-30T18:30:03.000Z
- Updated: 2026-09-30T18:30:03.000Z
- Author: The Editor
- Tags: Western Hemisphere

Jeeves, the Miami-based fintech founded and led by Chief Executive Officer Dileep Thazhmon, raised US$110 million in equity funding, announced on September 29\. CoinFund led the round, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute and Y Combinator. The company did not disclose its valuation.

Jeeves sells what it calls a stablecoin-native banking platform for companies that operate across borders. It offers physical and virtual corporate cards, accounts payable, treasury payments, spend management and AI-powered reconciliation. With the new money, it is launching its own stablecoin wallet with instant payouts to 190 countries, an AI spend tracking tool and an accounts receivable module. It is also expanding its stablecoin card from 25 to 35 countries, adding Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay, and opening an office in Madrid.

## Market Context

The growth numbers explain the investor interest. Jeeves says revenue grew 4x in 14 months and total platform volume tripled year over year to more than US$5 billion annualized. Its stablecoin-settled activity went from almost zero to US$1.5 billion annualized in eight months, and more than 80% of customers use more than one product. Clients include BMW, H&M, Lululemon, Burger King, Kavak and XP.

This is a turn for a company that started in 2019 as an expense management fintech and moved to stablecoin rails in late 2025\. Its last big round was a US$180 million Series C in 2022, led by Tencent, at a US$2.1 billion valuation. The broader stablecoin market is now worth roughly US$290 billion to US$306 billion, about 98% of it pegged to the dollar and dominated by Tether and Circle. The fight is shifting from retail users to enterprise treasury and payments, where Circle, Kraken and Nexo are also making moves in Latin America.

## Key Signal

> "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, Jeeves

## Regional Relevance

For the United States, the round shows that stablecoins are moving into ordinary corporate finance. The investor list mixes crypto funds like CoinFund and Coinbase Ventures with traditional money like AllianceBernstein, GIC and Vista. Nearly all stablecoin volume runs on dollar-pegged tokens, so every company that pays suppliers or employees this way extends the reach of the U.S. dollar outside the banking system.

For Latin America, the expansion targets a region where cross-border payments are slow and expensive and local currencies can be volatile. Eight of the ten new card markets are in the region, including Guatemala and Argentina, which has one of the highest stablecoin adoption rates in the world. For mid-sized companies in Central America and the Southern Cone, this means another option to pay and get paid in dollars without going through a traditional correspondent bank.

## The Other Side

**How much of the growth is sticky?** Stablecoin volume went from zero to US$1.5 billion in eight months. That is fast, but it is also young. Investors will want to see whether customers keep using the rails once pricing, promotions and early adoption effects settle.

**What happens as rules tighten?** Stablecoins are getting clearer rules in the U.S., but Latin American regulators are moving at different speeds. A change in local rules on crypto, foreign exchange or card issuing could slow the rollout in some of the new markets.

**Can it stand out in a crowded field?** Circle, Kraken, Nexo and local fintechs are all going after the same enterprise treasury business. Jeeves's edge is bundling cards, payables and treasury in one place, but big issuers and banks are also building their own corporate products.

## Sources & Transparency

- [Jeeves Raises $110M in Equity Funding](https://www.finsmes.com/2026/09/jeeves-raises-110m-in-equity-funding.html?ref=theinvestorsociety.com)
- [Jeeves Raises $110 Million Equity Round to Scale Its Stablecoin-Native Banking Platform for Global Enterprises Across 35 Countries](https://www.prnewswire.com/news-releases/jeeves-raises-110-million-equity-round-to-scale-its-stablecoin-native-banking-platform-for-global-enterprises-across-35-countries-302892811.html?ref=theinvestorsociety.com)
- [Jeeves raises $110M to scale stablecoin-native banking platform for global payments](https://siliconangle.com/2026/09/30/jeeves-raises-110m-to-scale-stablecoin-native-banking-platform-for-global-payments/?ref=theinvestorsociety.com)
- [Jeeves raises $110M to take its stablecoin play global](https://refreshmiami.com/news/jeeves-raises-110m-to-take-its-stablecoin-play-global/?ref=theinvestorsociety.com)
- [Jeeves Raises $110 Million to Expand Stablecoin Wallet and AI Payments Platform](https://www.bloomberg.com/news/articles/2026-09-29/jeeves-raises-110-million-from-a16z-coinbase-for-crypto-push?ref=theinvestorsociety.com)
- [Expenses fintech Jeeves eyes crypto transfers as it raises $180 million](https://www.theblock.co/post/138659/expenses-fintech-jeeves-eyes-crypto-transfers-as-it-raises-180-million?ref=theinvestorsociety.com)
- [Llega un nuevo jugador y acelera la carrera por las stablecoins corporativas en Argentina](https://www.elobservador.com/argentina/economia/llega-un-nuevo-jugador-y-acelera-la-carrera-las-stablecoins-corporativas-argentina-n6052173/amp?ref=theinvestorsociety.com)