Corporate card and expense management platform, Jeeves has reached a valuation of $2.1 billion after the company’s recent $180 million Series C funding round. With the latest investment, Jeeves has raised a total of $380 million in the past 12 months.
The Tencent-led funding round saw participation from prominent investors. Andreessen Horowitz, CRV, Silicon Valley Bank, Clocktower Ventures, Urban Innovation Fund, Haven Ventures, Gaingels and Spike Ventures joined the latest investment round.
As far as expansion is concerned, Jeeves aims to utilize fresh funding to increase its presence across Latin America, Europe and Canada. Additionally, the fintech company is planning to hire talented individuals across different locations.
"While we are in one of the toughest environments for startup funding this year, we are excited in the trust investors have, not only in Jeeves but in growing businesses who will be able to use our financial products globally," said Dileep Thazhmon, Jeeves' CEO and Founder.
Amid rapid growth, Jeeves has seen a jump in its client base during the last few months. According to the company, its revenue has jumped by nearly 900% since the Series B investment round in September last year.
Global Presence
The company is currently serving clients in 24 countries across the world. Regarding growth targets, Jeeves is planning to cover more than 40 countries in the next three years. The client base of Jeeves includes Bitso, Kavak, Belvo, Runa, Merama, Moons, Convictional, Muncher, Platzi, Worky, Beek, Revive Superfoods and Spare.
"Jeeves makes everything faster. Kavak is growing exponentially. We need a partner that understands and fulfils our needs. Thanks to Jeeves card and expense platform, we can operate cross border seamlessly," commented Carlos García, the CEO of Kavak, one of the largest unicorns in Latin America and a Jeeves user across corporate cards and working capital products.
