Stablecoins
Jeeves Secures $110 Million to Enhance Stablecoin Payments and AI Solutions
Jeeves, a Miami-based corporate payments platform, has successfully raised $110 million in a Series C funding round led by CoinFund, with contributions from notable investors including Andreessen Horowitz, Coinbase Ventures, and AllianceBernstein. This funding will support the launch of proprietary stablecoin wallets, AI-powered automation tools, and the expansion of instant payouts into ten new countries.
Currently operating in approximately 25 countries, primarily in Latin America, Jeeves aims to broaden its reach to around 35 countries. The company processes over 50-60% of its international payment volume through stablecoins, mainly USDC, and anticipates its annualized total payment volume to reach $6 billion.
Jeeves' CEO Dileep Thazhmon highlighted that the company has experienced significant growth, with a tenfold increase in transaction volume and revenue over the past two years. The new stablecoin wallets will enable corporate clients to hold, send, and receive dollar-denominated digital assets without relying on traditional banking systems.
In addition to stablecoin functionalities, Jeeves is integrating agentic AI tools designed to automate financial operations, including expense categorization and compliance checks, further enhancing its service offerings. This strategic move positions Jeeves to capitalize on the growing demand for innovative fintech solutions in emerging markets.
FAQ
What is the purpose of Jeeves' recent $110 million funding?
The funding will support the launch of proprietary stablecoin wallets, AI-powered automation tools, and the expansion of instant payouts into ten new countries.
Which investors participated in Jeeves' Series C funding round?
The funding round was led by CoinFund, with contributions from notable investors including Andreessen Horowitz, Coinbase Ventures, and AllianceBernstein.
How many countries does Jeeves currently operate in?
Jeeves currently operates in approximately 25 countries, primarily in Latin America, and aims to expand its reach to around 35 countries.
What percentage of Jeeves' international payment volume is processed through stablecoins?
Jeeves processes over 50-60% of its international payment volume through stablecoins, mainly USDC.
What features will the new stablecoin wallets provide for corporate clients?
The new stablecoin wallets will enable corporate clients to hold, send, and receive dollar-denominated digital assets without relying on traditional banking systems.