Jeeves raises $110M to expand fintech offerings including stablecoin wallet

Jeeves, the Miami-based corporate payments company, closed a $110 million Series C round led by CoinFund, with Andreessen Horowitz, Coinbase Ventures, and AllianceBernstein also participating. The fresh capital will fund the launch of proprietary stablecoin wallets, AI-powered automation tools, and an expansion of instant payouts into 10 new countries. Jeeves already operates in roughly 25 countries, primarily serving businesses across Latin America. Adding 10 more would push its footprint to around 35. Stablecoins as the backbone, not the gimmick Jeeves now processes more than 50-60% of its international payment volume through stablecoins, primarily USDC. The company’s annualized total payment volume surpasses $3 billion and is reportedly on track to hit $6 billion. Stablecoin-related revenue alone reached $1.5 billion annualized within eight months of launching the infrastructure. The entire company hit a peak valuation of $2.1 billion back in 2022. The new stablecoin wallets will support both USDC and USDT, giving corporate clients the ability to hold, send, and receive dollar-denominated digital assets without touching a traditional bank account. CEO Dileep Thazhmon has pointed...