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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:

citybiz+ Miami fintech Jeeves raises $110M to expand stablecoin infrastructure for businesses. September 30, 2026 Miami: Jeeves secures $110 million in Series C funding to develop AI-driven stablecoin wallet solutions, expand international reach, and support faster, cheaper cross-border transactions for Latin American and emerging market companies, with stablecoin-related revenue surging and transaction volume surpassing $3 billion annually. Jeeves co-founders Sherwin Gandhi (l) and Dileep Thazhmon. (Courtesy: Jeeves) Miami fintech Jeeves has secured $110 million in fresh Series C financing, a deal that underscores how quickly stablecoins are moving from crypto novelty to core payments infrastructure for global businesses. CoinFund led the round, with Andreessen Horowitz, Coinbase Ventures and AllianceBernstein also participating, according to the company. Jeeves was founded in 2019 by the duo of Dileep Thazhmon and Sherwin Gandhi. Thazhmon, a former M&A strategy consultant at Deloitte executive, serves as Jeeves' CEO. Gandhi was previously a trader and investment banker at JPMorgan. He also worked at unicorns AppNexus and Viagogo, and managed at global hedge fund. The company has raised $570 million from investors. Jeeves, which serves corporate clients across Latin America and other emerging markets, said the capital will support a proprietary stablecoin wallet, new AI-driven automation tools and an expansion of instant payouts into additional countries. The company currently operates in about 25 markets and expects to reach roughly 35 as it widens its network. The raise arrives as companies increasingly use stablecoins to move dollars across borders faster and with fewer banking intermediaries. Jeeves said more than half of its international payment volume now runs on stablecoin rails, primarily USDC, and that stablecoin-related revenue has climbed sharply since the infrastructure launched. The company also said its annualized total payment volume has surpassed $3 billion and is moving toward $6 billion. Jeeves is positioning its new wallet as a corporate treasury tool rather than a consumer crypto product. The wallet will support USDC and USDT, letting businesses hold, send and receive dollar-denominated digital assets without relying on a traditional bank account for every transaction. That could be especially useful in markets where local currency volatility or slow correspondent banking makes cross-border payments expensive and unpredictable. The company is also betting that artificial intelligence can take friction out of finance operations. Its planned "agentic" AI tools are designed to handle tasks such as expense categorization, compliance checks and payment routing with minimal human oversight. Jeeves already offers Instant Pay, a product built on stablecoin infrastructure that aims to compress settlement times that usually stretch across banking hours and borders. The funding adds to a sizable war chest. Jeeves said it has raised more than $570 million in combined equity and debt since its founding in 2019. The company has also pointed to rapid business growth, saying revenue has increased more than 50% since financing talks began and that both transaction volume and revenue have risen tenfold over the past two years. Jeeves' push reflects a broader shift in fintech. Stripe has moved into stablecoin payments through its Bridge acquisition, while PayPal has launched its own stablecoin, PYUSD. Jeeves is taking a different route, focusing on spend management and corporate payments for small and midsize businesses operating across borders in emerging markets. [Noah Wire Services helped in the writing of this article.]