– USA, NY – Jeeves, an all-in-one expense management platform for global startups, today announced that the company has raised a $57m Series B funding round led by CRV at a $500M valuation, alongside Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management.
Concurrent with the financing, Saar Gur, General Partner at CRV is joining the board of directors.
“We were blown away with Jeeves’ growth, consistently hitting and exceeding targets month over month, and the overwhelming positive feedback from customers that just love the product” said Saar Gur, General Partner at CRV. “Dileep and Sherwin designed Jeeves’ infrastructure from the ground up to dynamically manage cards, bank to bank transfer, FX across an increasing number of regions. It was evident from day one that this is a high velocity team dedicated to building the financial operating system that so many global companies need.”
A key group of angel investors also invested in the round, including Kevin Durant, Andre Igoudala, Odell Beckham Jr., The Chainsmokers, and the founders of eight unicorn companies — Adolfo Babatz (CEO, Clip), Gabriel Braga (CEO, QuintoAndar), Pierpaolo Barbieri (CEO, Uala), Zac Prince (CEO, BlockFi), Immad Akhund (CEO, Mercury), Pablo Gonzalez (Founder, Bitso), Tom Blomfield (Founder, Monzo Bank), Des Traynor (Founder, Intercom), Bo Jiang (CEO, Lithic) and founders from UiPath, Auth0, GoCardless, Hashdex, Dr. Consulta, Buser, Frubana and Pomelo.
The Series B round comes just two months after the Series A round led by Andreesen Horowitz in June. In total, Jeeves has raised $183M in less than 90 days, a clear indication of the interest this category-defining fintech has generated across investors and customers alike. Jeeves will use the capital to fuel its launch in Colombia, UK, Europe; scale its proprietary infrastructure to cover more currencies; acquire new talent, and accelerate the onboarding of new companies to the platform. Currently, there is a 15,000+ company waitlist.
Led by founders, Dileep Thazhmon and Sherwin Gandhi, Jeeves has grown its transaction volume by more than 5000% since Jan 2021 and both revenue has increased 1150% since its Series A earlier this year. Jeeves now covers more than 12 currencies and 10 countries across three continents and today announces its launch in Colombia, the UK, and Europe; in addition to its existing markets of Mexico and Canada.
“We were not looking to do another financing round this soon after our Series A, but fueled by our exponential growth, we received strong interest and term sheets from multiple funds. We’re building an all-in-one global expense management platform for startups in LatAm, Canada, Europe and UK — cash, corporate cards, crossborder — all run on our own infrastructure. This gives us a lot of flexibility and allows us to offer a truly unique product for our customers.” said Co-founder and CEO, Dileep Thazhmon.
About Jeeves
Jeeves is an all-in-one expense management platform for startups in global markets including Mexico, Colombia, Chile, Canada, UK, and Europe. Cash, corporate cards with up to 4% cashback, and cross-border payments all run on the Jeeves proprietary infrastructure which allows companies to spin up their finance function within minutes. Jeeves can handle multiple currencies for payback. More than 1000 global companies trust Jeeves with their financial payment stack. Jeeves has raised $188 Million from Andreesen Horowitz, Y Combinator, CRV, Tencent, and Silicon Valley Bank to fuel its international expansion.
For more information: https://tryjeeves.com/
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