Jeeves raises $110m led by CoinFund for a new wallet
Jeeves raised $110 million led by CoinFund and launched a stablecoin wallet paying out to 190 countries. Cards still lead the $5 billion annualised book.
Jeeves has raised $110 million, and the figure that does not fit the pitch sits inside its own book. On September 29, 2026 the Miami company said CoinFund had led an equity round and that it was launching a stablecoin wallet able to pay out to 190 countries. Eight months earlier, stablecoin-settled activity was effectively zero. It now runs at $1.5 billion annualised, against card and payments volume that has passed $5 billion annualised and tripled in a year. Set side by side, the stablecoin slice is still under a third, a share Jeeves did not publish. FinTech Global's September 30 report carries the same totals, and still calls the business a stablecoin-native banking platform.
Having tracked Jeeves since the March 2022 Series C, which FinTech Global put at $180 million and a $2.1 billion valuation, the missing number now is any price on the equity. The company release and CoinFund's note the same day state none, and they do not share a label. CoinFund says it led a $110 million C1. The release calls it equity funding and stops. Jeeves says revenue has grown fourfold in 14 months. CoinFund says revenue has tripled in 12 months, that stablecoin volume is up nearly 30 times year to date, and that Europe is already 15% of volume. That 15% is what the company left out. It is also why both documents include a Madrid office.
What the round buys
The stablecoin card goes from 25 countries to 35, adding Argentina, Costa Rica, the Dominican Republic, Guatemala, Panama, Peru, Paraguay and Uruguay. With North America, the United Kingdom and Europe already live, Jeeves says that covers nearly all of Central and South America. The Madrid office supports that rollout. With the wallet come a global artificial intelligence (AI) spend-tracking tool and an accounts receivable module. More than 80% of customers already use more than one product, across cards, accounts payable, treasury payments and spend management. The release names BMW, H&M, Lululemon, Burger King, Kavak and XP. CoinFund's note adds Nubank and does not name Kavak or XP.
Beside CoinFund, the company lists AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute and Y Combinator. CoinFund adds FT Partners and writes Vista as Vista Equity Partners. Andreessen Horowitz, CRV and GIC were already on the 2022 list. The other names were not.
Who has not answered
The release, CoinFund's note, FinTech Global and Refresh Miami's September 30 account carry no comment from Brex, Ramp, Spendesk or Payhawk, and a search for a reply from those firms did not surface one. Refresh Miami set Jeeves next to XFX, Cyclops, OpenFX and alfred, other Miami firms on the dollar-to-stablecoin seam, and quoted none of them on this round. CoinFund mentions Brex only as the firm chief revenue officer Jordan Bulkoski left.
Banks are still paying for the older path. J.P. Morgan Payments is widening cross-border payouts with Thunes, which does not ask a controller to hold a token. On this site, stablecoin rails are being pushed towards cards, and another round is aimed at banking business owners across borders. Jeeves is trying to take both seats on the fintech desk. No card network is quoted on the round.
“We built Jeeves as a banking platform on stablecoin rails because that's the only way to give companies the same speed and cost structure moving money between São Paulo and Berlin that they get transacting within one country,” said Dileep Thazhmon, founder and chief executive at Jeeves, in the September 29 release.
David Pakman, managing partner and head of venture investments at CoinFund, said in that release that Jeeves had “real distribution among companies already operating across Latin America, the United States and Europe, and that combination of technology and adoption is why we led this round.”
No price on the new shares
In March 2022 FinTech Global reported that Tencent led, that a $57 million September raise had been struck at a $500 million valuation, and that Jeeves had taken in more than $380 million over the prior 12 months while supporting companies in 24 countries, with revenue up 900%. This release describes thousands of enterprises and a stablecoin layer that was absent eight months ago, and still no new price.
The next test is usage, not country count. A wallet paying 190 countries is coverage. Europe at 15% of volume is in CoinFund's note and not in the company release. If that share rises over the next year, the C1 label will matter more than another payout country. Agentic payments are already live with European issuers, so the AI spend tracker will not be new when Madrid is staffed. Until a valuation appears, the cards still dominate.
Reporting by Rick Steves. Filed 2 October 2026, 09:33 GMT.
Senior Reporter, Regulation and Fintech
Rick Steves has seen business and economics through many lenses. He joined the financial services industry in 2009, and has been a financial journalist since 2011.
