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Jeeves raises $110M to take its stablecoin play global. Eight months ago, stablecoins barely registered on Jeeves' platform. Today, they account for an annualized $1.5 billion in volume. That rapid shift is helping reshape the Miami-based fintech's business, and investors are putting another $110 million behind its push to build financial infrastructure for companies operating across borders. Jeeves announced this week that it had raised a $110 million equity round led by CoinFund, with participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator and others. The funding comes amid a sharp period of growth for the company. Jeeves said its revenue had quadrupled over the past 14 months, while overall volume tripled year over year to more than $5 billion on an annualized basis. Stablecoin-settled activity has climbed from effectively nothing eight months ago to a $1.5 billion annualized run rate, according to the company. Jeeves said enterprises are increasingly using stablecoins to move money between markets where the traditional correspondent banking system can make international transfers slower or more expensive. "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," founder and CEO Dileep Thazhmon shared in a statement. It is a major turn for a company that initially made its name providing corporate cards and expense management to startups and other businesses across Latin America. Jeeves is now pitching itself as something much broader: a stablecoin-based financial operating system that can handle much of a multinational company's day-to-day financial activity. The company said more than 80% of its customers already use multiple Jeeves products, which span corporate cards, accounts payable, treasury payments, spend management and automated financial workflows. Its customers include BMW, H&M, Lululemon, Burger King, Kavak and XP. Stay ahead of Miami tech. Join 16,000+ founders, investors, and tech professionals. The latest funding will help Jeeves take that model into more markets. Its stablecoin card offering is expanding from 25 to 35 countries, adding Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay, among others. The company said the expansion will give it coverage across nearly all of Central and South America, alongside existing operations in North America, the United Kingdom and Europe. Jeeves is also opening an office in Madrid as it pushes further into Europe. "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," Thazhmon said. "That is what a stablecoin-native banking platform for global business actually looks like." The company is putting more products on those rails as well. Alongside the funding announcement, Jeeves launched its own stablecoin wallet, which it said can make payouts to 190 countries. It also announced a global AI-powered spend tracking product and an accounts receivable module. For lead investor CoinFund, the attraction was less about stablecoins as a financial experiment and more about Jeeves finding a practical business use for them. "Stablecoins are fundamentally changing finance for enterprises, but thus far, very few companies have created robust stablecoin-based infrastructure ideally suited to enterprises," David Pakman, managing partner and head of venture investments at CoinFund, said in the press release. "Jeeves has real distribution among companies already operating across Latin America, the United States and Europe, and that combination of technology and adoption is why we led this round." Jeeves' latest numbers offer another sign that stablecoins are moving deeper into the plumbing of business finance. It's far from alone, with various Miami startups innovating in the area, including XFX, Cyclops, OpenFX, alfred. That's not too dissimilar from tokenization hitting the tradfi world, pioneered by Miami fintech Securitize, which exited to public markets in July. READ MORE IN REFRESH MIAMI:

Jeeves has raised $110 million from investors including Andreessen Horowitz and Coinbase to expand its crypto infrastructure. The fintech company, founded in 2019, offers corporate cards and expense management tools primarily for businesses in Latin America and emerging markets. Between 50% and 60% of Jeeves' international payments now settle using stablecoins, mainly USDC. The platform supports dedicated stablecoin accounts for USDC and EURC, enabling instant, low-fee transactions that bypass traditional banking systems. The company has raised over $570 million in total across equity and debt rounds, reaching a peak valuation of $2.1 billion in 2022. Jeeves' payment volume has grown from approximately $400 million to over $3 billion, with plans to expand into more than 25 countries. The new funds will support stablecoin wallet development, AI agents, and instant payouts.