Jeeves Raises US$110 Million as Mexico Revenue More Than Doubles

Jeeves raised US$110 million after revenue in Mexico more than doubled year over year, with stablecoin transaction volume accelerating across its corporate payments platform.

Jeeves is expanding its financial infrastructure for companies operating across borders after raising US$110 million and launching a proprietary stablecoin wallet with instant payments to 190 countries. The funding round, led by CoinFund and joined by AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, Y Combinator and other investors, comes as the company reports rapid growth in Mexico and rising stablecoin activity across its platform.

Mexico has become one of Jeeves’ key markets. Revenue in the country increased 57% between the beginning of 2026 and August and more than doubled over the last 12 months. The company’s gross transaction volume (GTV) in Mexico increased 68% over the same period and reached 2.25 times its previous level over the last 12 months.

The growth reflects a broader expansion of Jeeves’ payment infrastructure beyond corporate cards and expense management. The company says it has tripled its year-over-year transaction volume and surpassed US$5 billion in annualized total volume across cards and payments. Stablecoins represent its fastest-growing segment.

Eight months ago, stablecoin activity settled through Jeeves was close to zero. It now operates at an annualized pace of US$1.5 billion.

In Mexico, the company is expanding its operations across three areas: developing more localized solutions for finance teams, strengthening its regulatory capabilities and adding talent to its commercial, product and engineering teams. The use cases are also extending into corporate treasury and international supplier payments.

A Mexican importer of fibers, textiles and garment manufacturing supplies has centralized its international supplier payments through Jeeves. Since May 2026, the company has deposited MX$288.5 million (US$15.9 million) through SPEI, which is credited as stablecoins, and used those funds to execute US$17.3 million in dollar payments and €457,000 (US$518,460) in euro payments. Over its first four full months of operation, the company averaged more than US$4 million in monthly transaction volume.

A Mexican wealth strategy and financial monitoring firm is using Jeeves as its stablecoin treasury infrastructure. Since March 2026, it has converted MX$71 million, equivalent to approximately US$4.1 million. The company has also executed US$6.1 million in payments from its Jeeves account, including transfers to USDT and USDC wallets and local-currency payments in Colombia, the United States, Brazil, Peru, and Chile.

Jeeves Expands Stablecoin Infrastructure

Jeeves is also expanding the geographic reach of its stablecoin card from 25 to 35 countries, adding 10 markets including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay, and Uruguay. The expansion gives the company coverage across nearly all of Central and South America. Combined with its presence in North America, the United Kingdom and the European Union, its stablecoin card and expense management platform now reach 35 countries.

The funding announcement also introduces three products: a proprietary stablecoin wallet with instant payments to 190 countries, an AI-powered global expense tracking solution and an accounts receivable module. Together, the products are designed to consolidate money movement, expense tracking and collections within a single financial infrastructure rather than requiring companies to connect separate banks, spreadsheets and point solutions in each market.

“Companies that choose Jeeves are global by nature. They need corporate cards, accounts payable, treasury payments and financial automation that work across continents, and they are tired of traditional infrastructure that was not designed for that,” says Dileep Thazhmon, Founder and CEO, Jeeves.

The company’s approach is built around stablecoin rails as the underlying infrastructure for cross-border transactions. “We built Jeeves on stablecoin rails because it is the only way to give companies the same speed and cost structure when moving money between São Paulo and Berlin as when they operate within a single country,” Thazhmon says.

Mexico Becomes Part of a Global Expansion

The funding also reinforces Jeeves’ broader strategy of combining payments, expense management, and treasury capabilities within one platform. More than 80% of its customers use multiple products, including corporate cards, accounts payable, and treasury payments, expense management and AI agent-based workflows.

Jeeves serves companies across technology, mobility, financial services, retail and e-commerce, with customers including BMW, H&M, Lululemon, Burger King, Kavak, and XP.

For CoinFund, the growth of stablecoin infrastructure is tied to the development of corporate financial systems capable of operating across multiple markets. “Stablecoins are fundamentally changing finance for businesses, but until now, very few companies have built robust stablecoin infrastructure truly suited to the corporate world,” says David Pakman, Managing Partner and Head of Venture Investments, CoinFund.

Pakman says Jeeves has developed an enterprise stack that allows companies to manage daily operations, corporate cards and bill payments through stablecoins, while serving businesses operating across Latin America, the United States, and the European Union.

As part of its expansion, Jeeves is opening an office in Madrid to support the global rollout of its core card and stablecoin-native payments offering.