U.S.-based fintech company Jeeves has raised $110 million in an equity financing round led by CoinFund, capital it will use to scale its stablecoin-based banking infrastructure for businesses operating across multiple markets.

Stablecoins are digital tokens pegged to fiat currencies such as the U.S. dollar, and financial-technology firms have increasingly built cross-border payments and treasury products on them.

The financing included participation from AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute and Y Combinator, among other investors, according to reports. The lineup pairs crypto-native firms such as CoinFund, ParaFi and Wintermute with traditional asset managers and institutional investors, a mix that reflects how stablecoin infrastructure is now drawing capital from beyond the crypto sector.

Alongside the funding announcement, Jeeves introduced three new products and widened the geographic availability of its stablecoin card offering from 25 to 35 countries. The company framed the expansion as part of a broader strategy to give enterprises payments, treasury and spending tools through a single stablecoin-based platform.

Stablecoin activity drives platform growth

Jeeves describes its platform as stablecoin-native banking infrastructure built for enterprises with operations in multiple countries. Its product suite spans corporate cards, accounts payable, treasury payments, spend management and agentic workflows.

The company said more than 80% of its customers use multiple products, a sign that businesses are increasingly consolidating payment and financial-management functions within a single platform. Its customer base spans technology, mobility, financial services, retail and e-commerce.

Jeeves reported rapid growth in the run-up to the financing. Revenue has increased fourfold over a 14-month period, while total platform volume has tripled year over year. Annualized volume across its card and payments products has surpassed $5 billion.

Stablecoin-settled transactions have been the fastest-growing component of that volume. Eight months before the announcement, stablecoin activity on the platform was effectively nonexistent; it has since grown to $1.5 billion in annualized volume. The company attributed the increase to businesses using stablecoins to move funds between markets where correspondent banking arrangements can be slower or more expensive.

Jeeves founder and CEO Dileep Thazhmon said the platform was designed around stablecoin rails to reduce the gap between domestic and international transfer speeds and costs.

New wallet offers payouts across 190 countries

The latest product expansion includes a proprietary stablecoin wallet that provides instant payouts to 190 countries. Jeeves also launched an artificial intelligence-based global spending-tracking product and an accounts-receivable module.

The new products are intended to let businesses move funds, monitor spending and receive payments through one platform, rather than relying on separate banks, spreadsheets and specialized financial applications across different markets.

The wallet rollout coincides with a broader push into Latin America, where ten additional countries are being added, including Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. With existing operations across North America, the United Kingdom and Europe, the stablecoin card and spending-management platform now reaches 35 countries. Jeeves is also opening an office in Spain to support the international expansion of its card and payments business.

The geographic expansion gives the company a larger footprint across Central and South America while extending its infrastructure for businesses that need to manage payments across multiple jurisdictions. Whether the ten new markets and the newly launched wallet add to that momentum will show up in the company's next reported figures, particularly the split between stablecoin and card volume within its $5 billion-plus annualized total.

Investors see enterprise demand for stablecoin infrastructure

CoinFund, which led the financing, said enterprise-focused stablecoin infrastructure remains relatively limited. The firm highlighted Jeeves' ability to combine corporate operations, card spending and invoice payments on stablecoin-based infrastructure, and pointed to the company's customer base across Latin America, the United States and Europe as a factor behind its participation in the round.

The new capital and product launches mark an effort by Jeeves to broaden its role beyond payments for corporate finance teams and to provide infrastructure that businesses can use across the markets where they operate. The company is aiming to build stablecoin-based banking infrastructure that combines payments, cards, treasury functions, spending management and receivables within a single enterprise platform.

The expansion comes as businesses increasingly examine stablecoins for international money movement and treasury operations. By pairing stablecoin settlement with corporate financial tools, Jeeves is seeking to make digital-dollar infrastructure part of routine enterprise payment operations rather than a separate digital-asset function.