The Jeeves stablecoin strategy now has $110 million behind it.
CoinFund led the round for the Miami fintech. Andreessen Horowitz, Coinbase Ventures and AllianceBernstein also participated, according to the company.
Jeeves has now raised more than $570 million in combined equity and debt since its 2019 founding.
What Does Jeeves Do?
Jeeves serves corporate clients across Latin America and other emerging markets. It focuses on spend management and corporate payments for small and midsize businesses that work across borders.
The company operates in about 25 markets and expects to reach roughly 35.
Dileep Thazhmon and Sherwin Gandhi founded it. Thazhmon, a former Deloitte M&A strategy consultant, is CEO.
Gandhi was previously a trader and investment banker at JPMorgan. He also worked at AppNexus and Viagogo.
Where the Money Goes
Jeeves named four uses for the capital. They are a proprietary stablecoin wallet, new AI automation tools, accounts receivable tools and instant payouts in more countries.
The wallet will support USDC and USDT. Businesses can hold, send and receive dollar-denominated digital assets without a traditional bank account for every transaction.
Jeeves is positioning it as a corporate treasury tool, not a consumer crypto product.
That matters in markets where currency swings or slow correspondent banking make cross-border payments costly and unpredictable.
The planned AI tools are agentic. They are designed to handle expense categorization, compliance checks and payment routing with minimal human oversight.
Thazhmon framed the need in the company’s press release. “The enterprises we work with are global by default, needing cards and payments that span continents, and every one of them is tired of banking infrastructure that wasn’t built for that,” he said.
Jeeves already offers Instant Pay, built on stablecoin infrastructure, to compress settlement times that usually stretch across banking hours and borders.
The Numbers Jeeves Reports
More than half of the company’s international payment volume now runs on stablecoin rails, primarily USDC. Stablecoin-related revenue has climbed sharply since launch.
Annualized total payment volume has passed $3 billion and is moving toward $6 billion.
Revenue is up more than 50% since financing talks began. Transaction volume and revenue have each risen tenfold in two years.
These figures come from Jeeves and have not been independently verified.
A Bet Made Four Years Ago
Stablecoins were already on Thazhmon’s mind in March 2022. He told The Block that “there’s a very strong use-case for using crypto for cross-border payments.”
He said stablecoins could replace regulated bank accounts in multiple countries. Jeeves planned to pilot the idea in Latin America first.
That same month Jeeves raised $180 million at a $2.1 billion valuation, led by Tencent, Bloomberg Linea reported.
Andreessen Horowitz also took part in that round, so it returned for this one.
The 2022 money was aimed at Southeast Asia, Brazil and the Middle East and North Africa.
Jeeves then had about 150 employees and more than 3,000 customer companies. Its early products were corporate cards, business payments and working capital lending.
Miami’s Payments Cluster
Jeeves was born in Mexico, but Miami is its headquarters. Bloomberg Linea reported in 2022 that Thazhmon had relocated there.
Other Miami firms work on payments infrastructure. Globant bought Miami-based Blankfactor in October 2024 to strengthen its financial services business.
Blankfactor serves six of the top ten payment processors, along with major global banks and asset managers.
Compliance is also on MAIN’s radar. Our Q3 2026 tally counted Comp AI, which raised a $34 million Series A for AI-powered compliance and security.
Compliance checks are one of the jobs Jeeves wants its AI agents to take on.
MAIN’s fintech coverage tracks more Miami companies in this space.
A Cooler Regional Market
Briefs Finance, citing PitchBook, reports that Latin American venture funding reached about $900 million in the first half of 2026. The year-earlier figure was about $1 billion.
The same report says the region raised about $2.6 billion in 2025, against a record $4.9 billion in 2022.
Against that backdrop, a $110 million round is large. Jeeves serves clients across the region from its Miami base.
A Different Route From Stripe and PayPal
Larger players are moving into stablecoins too. Stripe has entered through its Bridge acquisition, and PayPal launched its own stablecoin, PYUSD.
Jeeves is taking a different route. It targets spend management and corporate payments for small and midsize businesses in emerging markets.
What Comes Next
The wallet and the agentic tools are still plans. Instant Pay is the live product.
Jeeves is betting that Latin American businesses want dollars on demand. Miami is where that bet is being run.
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