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# Why Is a16z Betting on Pesos?
- URL: https://www.theinvestorsociety.com/why-is-a16z-betting-on-pesos/
- Published: 2026-10-06T14:02:23.000Z
- Updated: 2026-10-06T14:02:23.000Z
- Author: Jose Kont
- Tags: The Daily Dealflow

Hi, and welcome to a new edition of [The Daily Dealflow](https://www.theinvestorsociety.com/tag/the-daily-dealflow/) — the 5-minute briefing that gives you clear context on capital flows and market-moving trends across the Americas, from Silicon Valley to Buenos Aires. Let's dive in.

## 🏆 Deal of the Day

Jeeves, the corporate payments platform led by founder and CEO Dileep Thazhmon, raised $110M in a round led by CoinFund, with AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Vista and Y Combinator also in. The money will push its stablecoin-based corporate cards from 25 to 35 countries, adding Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay – [Pulso Capital](https://pulsocapital.com/jeeves-capta-us110-millones-y-apuesta-por-mexico-para-impulsar-su-expansion-global/?ref=theinvestorsociety.com).

**Why This?:** Companies operating across the Americas still lose time and money moving dollars, pesos and euros between borders, and Jeeves is betting that stablecoin rails fix that, with Mexico as its proving ground. Its revenue there grew 57% and processed volume 68% from early 2026 through August.

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/JEEVES-110M.jpg)

**Positive Context:**

- Platform volume tops $5B annualized, triple the year before, and revenue quadrupled over 14 months. More than 80% of customers use several Jeeves products, and the client list includes BMW, H&M, Lululemon, Burger King, Kavak and XP.
- Stablecoin volume went from almost nothing to a $1.5B annualized run rate in eight months.

**Yes, but:**

- Going from 25 to 35 countries in one push, plus a new Madrid office, adds new markets and regulators to manage at the same time.

> **The comment:** "Companies that choose Jeeves are global by nature. They need corporate cards, accounts payable, treasury payments and automation," said founder and CEO Dileep Thazhmon.

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Jeeves-CEO.webp)

## 💰 Venture Capital

*Submit a deal for The Daily Dealflow newsletter via DM* [*here on LinkedIn*](https://www.linkedin.com/company/theinvestorsociety/?ref=theinvestorsociety.com)*.*

**Halluminate (US)** – $30M, Series A, financial-work simulations for training AI agents. Founded by Jerry Wu and Wyatt Marshall; Oak HC/FT led, joined by Y Combinator and Heavybit. Its nine-person team sells practice sessions to four top US AI labs – [The Investor Society](https://www.theinvestorsociety.com/halluminate-us-30m-series-a-for-wall-street-simulations-that-train-ai-agents/).

**SignSplit (US)** – $400M, seed, signed-data infrastructure platform that lets people and organizations protect, license and contribute their data, work and likeness to AI firms, robotics companies, researchers and media platforms. W Group led the round, and the company is led by CEO Alessandro Monterosso and co-founder Glib Denisov. A $400M seed is the kind of number that makes a Series A look like a rounding error – [FinSMEs](https://www.finsmes.com/2026/10/signsplit-raises-400m-in-seed-funding.html?ref=theinvestorsociety.com).

**Armadin (US)** – $255.5M, Series B, AI-agent swarms that find security weaknesses before criminals do. Founded by Kevin Mandia, Travis Lanham, Evan Peña, and David Slater; a16z and Accel co-led. Mandia previously sold Mandiant to Google for $5.4B—now he’s automating the attackers – [The Investor Society](https://www.theinvestorsociety.com/armadin-kevin-mandias-ai-hacking-startup-hits-us-2-5b-to-find-breaches-first/).

**MozartAI (Colombia)** – $10M, seed at a $40M valuation, AI that automates scheduling, rescheduling and clinical-record analysis for healthcare institutions. Two U.S. venture funds are backing the round, and founders Iván Orduz (CEO) and José Hernando Mosquera are taking the company into Mexico, its fifth Latin American market, with a U.S. launch planned for 2027\. At Coosalud in Colombia, the platform processed nearly 100,000 authorizations in four months – [Entorno VC](https://entorno.vc/mozartai-levanta-us10-millones-y-acelera-su-expansion-hacia-mexico-y-estados-unidos/?ref=theinvestorsociety.com).

**At Home Harmony (US)** – $5M, funding round, home-based senior care provider offering primary care, remote monitoring and personal services for older adults. Ziegler Link-age Funds, Claritas Capital, Pisgah Fund and individual investors joined, and founder Will Saunders is building inside a Medicare Accountable Care Organization initiative. The Virginia-based company brings the doctor to the living room – [Tech Startups](https://techstartups.com/2026/10/05/startup-funding-news-today-october-5-2026-onebyzero-pandektes-fleuret-ai-more/?ref=theinvestorsociety.com).

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Screenshot-2026-10-06-at-8.54.22---AM.png)

The U.S. economy created far fewer jobs than expected in September, pointing to a surprising soft spot in the labor market and broader economy. Nonfarm payrolls rose a seasonally adjusted 29,000 for the month while the unemployment rate increased to 4.2%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been looking for job growth of 84,000 and an unemployment rate of 4.1%. Source: CNBC. 

## 🏛️ Private Equity

**Supabase (US)** – $150M, growth round led by GIC with CapitalG participating, plus its acquisition of Turso for undisclosed terms. Paul Copplestone and Ant Wilson’s database platform is leaning into AI-built apps: agents already create roughly 70% of its new databases – [The Investor Society](https://www.theinvestorsociety.com/supabase-us-150m-from-gic-and-a-turso-buy-to-power-databases-built-by-ai-agents/).

**SOFIE Biosciences (US) –** $945M, sale by Trilantic North America to GE HealthCare, a strategic exit for a PET radiopharmaceutical manufacturer. SOFIE runs 15 contract manufacturing sites in the U.S. with 21 cyclotrons, which are small particle accelerators that make the radioactive ingredients behind PET scans – [PE Hub](https://www.pehub.com/trilantic-north-america-inks-945m-sale-of-sofie-biosciences-to-ge-healthcare/?ref=theinvestorsociety.com).

**PTC (US)** – $22.6B, all-cash strategic acquisition by Schneider Electric at $205 per share, a 42.3% premium to Friday's close. The price is about twice what Schneider paid for Aveva in 2023, which is like trading up from a nice house to a very large one in the same neighborhood – [Axios](https://www.axios.com/2026/10/05/schneider-electric-ptc?ref=theinvestorsociety.com).

**EnviroServe (US)** – $470M, sale by One Rock Capital Partners to Clean Harbors, completed sale of an environmental and waste management services provider. The business serves about 2,400 customers, a long list of people who need someone else to handle their waste – [PE Hub](https://www.pehub.com/one-rock-capital-partners-completes-470m-sale-of-enviroserve-to-clean-harbors/?ref=theinvestorsociety.com).

## 📈 Public & Capital Markets

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/Screenshot-2026-10-06-at-8.57.39---AM.png)

Closing Market Figures, Mon 05 Oct, 2026.

**U.S. equities (NYSE, Nasdaq)** – market wrap. The Nasdaq Composite rose 1.05% to a record 27,477.31, the S&P 500 gained 0.66% to 7,773.99 and the Dow added 0.18% to 51,267.90, while the 10-year Treasury yield hit a 52-week high of 5.315%. Tech rallied while bonds sagged, and investors now wait for Wednesday's Fed minutes – [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-05-2026?ref=theinvestorsociety.com).

**Moderna (US, Nasdaq: MRNA)** – index inclusion, biotech. The stock rose 5.71% on its addition to the Nasdaq-100, a returning COO and optimism about its personalized mRNA cancer vaccine partnership with Merck. The rally comes with annual revenue of $1.94B against a net loss of $2.82B – [TradingKey](https://www.tradingkey.com/news/market-movers/262200511-market-movers-mrna-20261005?ref=theinvestorsociety.com).

**Cerebras (US, CBRS)** – stock move, AI chips. Shares rose after OpenAI CEO Sam Altman called the chipmaker "a close partner," citing deep engagement on pushing the frontiers of speed – [Yahoo Finance](https://finance.yahoo.com/markets/live/stock-market-today-monday-october-5-dow-sp-500-nasdaq-081220790.html?ref=theinvestorsociety.com).

**Nike (US, NYSE: NKE)** – credit rating downgrade, apparel. S&P Global cut the company to "A" from "A+," citing a "prolonged turnaround" and "severe top-line deterioration in Greater China," and the stock fell 2.88% – [TheStreet](https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-oct-05-2026?ref=theinvestorsociety.com).

## 📅 ICYMI

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/10/last-image.jpeg)

**30% of Americans** have gone on a date only for the free food and drinks, with Gen Z at 32% and Boomers close behind at 26% – [The Hustle](https://thehustle.co/newsletters/05-10-2026?ref=theinvestorsociety.com).

**On Oct. 6, 1927**, "The Jazz Singer" premiered as the first talking picture, and silent films were obsolete within three years.

**Grindr is buying HIV-prevention telehealth provider Freddie** for $250M, its first major deal and a move from dating into healthcare – [CNBC](https://www.cnbc.com/2026/09/30/grindr-purposemed-freddie-telehealth-acquisition.html?ref=theinvestorsociety.com).  
  
*See you tomorrow,*

[***Jose Kont***](https://www.linkedin.com/in/jose-kont/?ref=theinvestorsociety.com)  
*The human behind The Investor Society.*