Jeeves Secures $110M Equity Round Led by CoinFund to Expand Stablecoin Enterprise Banking

Enterprise financial platform Jeeves announced on Sept. 29 that it raised $110 million in an equity funding round led by CoinFund ¹. The round drew backing from prominent institutional and venture capital investors, including AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, and Y Combinator ¹. Alongside the capital raise, Jeeves introduced a proprietary stablecoin wallet supporting payouts across 190 countries, coupled with an automated accounts receivable module and artificial-intelligence-driven expense tracking ¹.

Jeeves reported that total annualized platform volume across its card and payments products has climbed past $5 billion, with revenue increasing fourfold over a 14-month span ¹. Stablecoin settlements have driven much of that momentum, accelerating from negligible amounts eight months prior to an annualized run rate of $1.5 billion ¹. Enterprise clients use the network's tokenized settlement rails as an alternative to slower, costlier correspondent banking routes ¹.

Broadening Footprint Across the Americas and Europe

The company is expanding its stablecoin corporate card services from 25 to 35 jurisdictions ¹. The geographic rollout covers Latin American markets including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay, and Uruguay, complementing its existing operations across North America, the UK, and Europe ¹. Jeeves is also establishing a European hub in Madrid to direct global card and payment operations ¹.

The funding highlights institutional demand for non-bank cross-border payment infrastructure. While major corporate treasuries traditionally face multi-day clearing windows and high fees through legacy foreign exchange channels, stablecoin adoption is increasingly taking hold in commercial spend management and accounts payable workflows ¹.