Jeeves, the all-in-one corporate card and expense management platform for global startups, announced today that it has raised a $180 million Series C at a valuation of $2.1 billion. The Series C round, which closed in March 2022, comes just seven months after the company’s Series B round.

This equity financing, which comes on the heels of recognition from Y Combinator’s Top Companies of 2022The Information’s 50 Most Promising Startups of 2021, and FounderBeta’s Top 100 Tech Companies to Watch for in 2022, was led by Tencent and includes participation from GIC, Stanford University, Andreessen Horowitz, CRV, Silicon Valley Bank, Clocktower Ventures, Urban Innovation Fund, Haven Ventures, Gaingels, Spike Ventures, the family offices of two FAANG founders, and Carlo Enrico, President of Latin America and the Caribbean for Mastercard.

In the last 12 months, the company has raised over $380 million – proof of the growing interest this category-defining fintech has generated across investors and customers alike. Jeeves will use the capital to fuel its global expansion across Latin AmericaCanada, and Europe, scale its proprietary infrastructure to cover more currencies, acquire top-tier talent, and accelerate the onboarding of new companies to the platform.

Fueled by unprecedented demand, Jeeves has doubled its client base to more than 3000 companies and has grown revenue by 900% since the Series B in September. The global startup generated more revenue in the first two months of 2022 than all of 2021 combined. In tandem with its explosive revenue growth, the company also announced that it crossed $1+ billion in annualized gross transaction volume (GTV) just 11 months after its public launch in March 2021, averaging a 76% month-over-month growth since opening its doors.

“While we are in one of the toughest environments for startup funding this year, we are excited in the trust investors have, not only in Jeeves but in growing businesses who will be able to use our financial products globally,” said Dileep Thazhmon, Jeeves CEO and Founder.

Jeeves currently serves companies across 24 countries and 3 continents. Its client base consists of high-growth startups, e-commerce, and SMEs including Bitso, Kavak, Belvo, Runa, Merama, Moons, Convictional, Muncher, Platzi, Worky, Beek, Revive Superfoods, Spare, and more. Jeeves is available in North AmericaLatin America, the UK, and Europe. Powered by its proprietary Banking-as-a-Service infrastructure, Jeeves aims to cover 40+ countries in the next 3 years.

“Jeeves makes everything faster. Kavak is growing exponentially. We need a partner that understands and fulfills our needs. Thanks to Jeeves card and expense platform we can operate cross border seamlessly,” said Carlos García, CEO of Kavak, one of the largest unicorns in Latin America and a Jeeves user across corporate cards and working capital products.

In the post-COVID era, most companies are global in nature – either with employees in multiple countries or dealing with business across regions. However, these companies are forced to rely on local and country-specific financial infrastructure. For instance, a company with employees in Mexico and Colombia would require multiple vendors to cover its finance function in each country: a corporate card in Mexico and another in Colombia, an additional vendor for cross-border payments, and another one to transact SPEI. At the end of the month, it would then take a few weeks to reconcile corporate spend and get a consolidated view of the company’s cash position.

Jeeves changes this paradigm. Jeeves provides the underwriting, 30 days of credit in local currency, and the payment rails for any business spend across countries and currencies. Powered by Jeeves’ proprietary infrastructure, a growing business can use a Jeeves card in the US and pay back in USD. It can then use that same Jeeves card in Mexico and pay back in Mexican Pesos – reducing all FX fees and providing instant spend reconciliation across countries.

The Jeeves team currently consists of 150 employees across 10 countries. In addition to the Series C announcement, Jeeves is also announcing key additions to its leadership team including Chief Technology Officer, Arpan Nanavati (previously Head of Engineering at PayPal and Director of Engineering at Walmart); Director of Partnerships, Trent Beckley (previously Strategic Partnerships Lead at Google); Head of Sales Operations, Bhushan Ekbote (previously Head of Sales Ops at Afterpay and Head of Sales Ops at Magneto/Adobe) and Head of Strategy, Víctor Garrido (previously Strategy at Mastercard, Bain & Company).


Jeeves, The Fintech Built For Global Companies, Launches Its All-In-One Corporate Card And Capital Financing Services For High-growth Startups In Canada


Jeeves, the all-in-one expense management platform for global startups, announced today that it has officially launched its product and services in Canada. This expansion into the Canadian market follows the company’s highly successful funding rounds of a Series A at $31 million USD followed by a Series B of $57M. Both rounds were completed in 2021 in less than 90 days of each other for a total raise of $183M USD, and a valuation of more than $500M USD. The Canadian launch is the latest in a momentous year of growth for the company.

Jeeves provides a true corporate card and expense management solution for global-minded Canadian companies, with hassle-free, no fee, no interest, and no personal guarantee virtual and physical cards. In addition, Canadian entrepreneurs and business owners can earn up to 3% cashback and choose to pay the card back in USD or CAD. This makes Jeeves the ideal financial tool for Canadian startups with aspirations of expansion beyond borders.

In addition to its expense management platform and corporate card, the company has launched Jeeves Growth – allowing startups and SMEs to scale faster with easy to access non-dilutive capital in their local currency. Jeeves Growth, a new product that provides revenue based financing solutions to companies across the globe, leverages the company’s infrastructure and platform to provide longer term financing options to startups and SMEs on top of our cards and revolving credit lines. This aims to solve a significant challenge faced by Canadian startups.

“By launching in Canada we seek to solve a major problem faced by a lot of Canadian startups and fast growing companies with global presence. Our multi-currency corporate card platform will allow Canadian entrepreneurs to focus on their business and less on administrative tasks, while the Jeeves’ roadmap has a number of services planned that will offer significant positive changes to the Canadian startup landscape,” said William Lam, General Manager of Canadian Operations.

Both Jeeves Corporate Card and Jeeves Growth run on the company’s proprietary infrastructure with an easy-to-use user interface, allowing for Canadian companies to spin up their finance function within minutes.

“We differentiate ourselves by being really easy and intuitive to use. You don’t need a finance degree to utilize Jeeves. Expense management can be set up in a day and your corporate card is delivered from there.” said Co-founder and CEO, Dileep Thazhmon. “This has huge implications for companies waiting to be approved, holding up their growth plans. Any company regardless of industry can use our platform, however the majority of our current customer-base are high-growth startups.”

Jeeves is seeking to change the paradigm and revolutionize the way global companies think about their finances. As an alternative to the often time consuming and frustrating options startups and high growth companies face when looking for an expense management solution, Jeeves has been making waves as a fast and trusted service platform built for borderless companies – something the Canadian startup landscape has sorely needed for too long.

“Jeeves is already operating in 20 countries around the world, and our aim is to launch in at least 6 to 10 additional countries each year. With the Canadian startup landscape producing so many successful and globally operated companies, we are ecstatic about launching Jeeves in this market,” said Thazhmon.