U.S.-based fintech company Jeeves has raised $110 million in an equity financing round led by CoinFund as it expands its stablecoin-based banking infrastructure for businesses operating across multiple markets.
The financing included participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute and Y Combinator, among other investors, according to reports.
Alongside the funding announcement, Jeeves introduced three products and expanded the geographic availability of its stablecoin card offering from 25 to 35 countries. The company is positioning the expansion as part of a broader strategy to provide enterprises with payments, treasury, and spending tools through a unified stablecoin-based platform.
Jeeves has raised $110 million and launched a stablecoin wallet capable of payouts to 190 countries, while expanding its stablecoin card and spending platform to 35 markets.
Stablecoin activity drives platform growth
Jeeves describes its platform as stablecoin-native banking infrastructure designed for enterprises with operations in multiple countries. Its product suite includes corporate cards, accounts payable, treasury payments, spend management and agentic workflows.
The company said more than 80% of its customers use multiple products, indicating that businesses are increasingly combining payment and financial-management functions within the same platform. Its customer base spans technology, mobility, financial services, retail and e-commerce.
Jeeves has reported rapid growth ahead of the latest financing. Revenue has increased fourfold over a 14-month period, while total platform volume has tripled year over year. Annualized volume across its card and payments products has surpassed $5 billion.
Stablecoin-settled transactions have been the fastest-growing component. Eight months before the announcement, stablecoin activity on the platform was effectively nonexistent. It has since reached $1.5 billion in annualized volume.
The company attributed the increase to businesses using stablecoins to move funds between markets where correspondent banking arrangements can be slower or more expensive. Jeeves founder and CEO Dileep Thazhmon said the platform was designed around stablecoin rails to reduce differences between domestic and international transfer speeds and costs.
New wallet offers payouts across 190 countries
The latest product expansion includes a proprietary stablecoin wallet that provides instant payouts to 190 countries. Jeeves also launched an artificial intelligence-based global spending-tracking product and an accounts-receivable module.
The new products are designed to allow businesses to move funds, monitor spending and receive payments through one platform instead of relying on separate banks, spreadsheets and specialized financial applications across different markets.
The wallet expansion comes as Jeeves increases its presence across Latin America. Ten additional countries are being added, including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay.
With existing operations across North America, the United Kingdom and Europe, the stablecoin card and spending-management platform now reaches 35 countries. Jeeves is also opening an office in Spain to support the international expansion of its card and payments business.
The geographic expansion gives the company a larger footprint across Central and South America while extending its infrastructure for businesses that need to manage payments across multiple jurisdictions.
Investors see enterprise demand for stablecoin infrastructure
CoinFund, which led the financing, said enterprise-focused stablecoin infrastructure remains relatively limited. The firm highlighted Jeeves’ ability to combine corporate operations, card spending and invoice payments through stablecoin-based infrastructure.
The investor also pointed to Jeeves’ customer base across Latin America, the United States and Europe as a factor behind its participation in the funding round.
The new capital and product launches mark an effort by Jeeves to broaden its role beyond payments for corporate finance teams. The company is seeking to provide infrastructure that businesses can use across the markets where they operate.
Jeeves is aiming to develop stablecoin-based banking infrastructure that combines payments, cards, treasury functions, spending management and receivables within a single enterprise platform.
The expansion comes as businesses increasingly examine stablecoins for international money movement and treasury operations. By combining stablecoin settlement with corporate financial tools, Jeeves is seeking to make digital-dollar infrastructure part of routine enterprise payment operations rather than a separate digital-asset function.