U.S.-based corporate spend management startup Jeeves has raised 110 million dollars in funding led by CoinFund. The company will use the funds to develop its stablecoin-based banking infrastructure and expand globally. Founded by Dileep Thazhmon and Sherwin Gandhi in 2019, the platform offers companies cards, expense tracking and money transfers to 190 countries.
Why it matters
This development shows that corporate spend management is being addressed alongside banking infrastructure, rather than merely as a service offering cards and expense tracking. What makes Jeeves significant for companies operating in different countries is that it combines spending tools and money transfer functions on the same platform; its stablecoin-based structure highlights the financial layer behind these services. The investment aims to increase the company’s capacity to develop its existing services alongside its operational reach spanning 190 countries. However, it has not yet been disclosed which parts of the infrastructure the allocated funds will target, which services will be developed, or what kinds of operational changes they will be directed toward for global use.