Jeeves Raises $110M Series C Led by CoinFund for Stablecoin Banking Platform
Jeeves Raises $110M Series C Led by CoinFund for Stablecoin Banking Platform #
Miami-based corporate payments firm Jeeves has secured $110 million in Series C equity funding to build out a stablecoin-native banking platform for multinational enterprises, the company announced.
CoinFund led the round, with participation from Andreessen Horowitz, Coinbase Ventures, AllianceBernstein, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, and Y Combinator, among others. The raise brings Jeeves’s total equity and debt financing to more than $570 million since the company’s founding in 2019.
With the funding, Jeeves launched a proprietary stablecoin wallet capable of processing payouts to 190 countries and expanded its stablecoin card and spend-management product from 25 to 35 countries. New markets include Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay, and Uruguay, extending the platform’s reach across nearly all of Central and South America as well as North America, the United Kingdom, and Europe.
Stablecoin adoption on the platform has accelerated sharply in recent months. Eight months ago, stablecoin-settled volume was negligible; it now runs at an annualized rate of $1.5 billion, driven primarily by businesses moving money between corridors where correspondent banking is costly or slow. Total annualized platform volume has surpassed $5 billion, with revenue growing fourfold over the past 14 months.
Clients include BMW, H&M, Lululemon, Burger King, and Brazilian investment firm XP, among thousands of others across technology, mobility, financial services, retail, and e-commerce. The company says more than 80 percent of its customers use multiple products, including corporate cards, accounts payable, treasury payments, spend management, and AI-powered workflow tools.
David Pakman, Managing Partner and Head of Venture Investments at CoinFund, said in the announcement that Jeeves had built a full enterprise stack that lets companies run day-to-day operations, including corporate cards and invoice payments, on top of stablecoins, at speeds and costs that traditional banking infrastructure cannot match.
Jeeves said it plans to use the capital to deepen its stablecoin infrastructure, expand instant-payout capabilities to more countries, and scale its suite of AI-powered financial agents for enterprise finance teams.
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