Jeevs Secures $110M to Expand Enterprise Stablecoin Banking

Enterprise stablecoin banking platform Jeevs has secured $110 million in funding, with CoinFund leading the investment.

Joining CoinFund in the round are AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, GIC, and Y Combinator.

Jeevs provides financial operations systems for companies, including corporate cards, payables, fund transfers, and expense management.

The company has seen significant growth, with revenue quadrupling in 14 months and annualised card and payment transaction volume more than tripling to exceed $5 billion.

Stablecoin transaction volume, which was effectively zero just eight months ago, has risen to an annualised $1.5 billion.

Jeevs aims to expand its stablecoin card services to 35 countries, up from 25, with Argentina, Costa Rica, Peru, and Uruguay set to be added.

The company has also introduced a stablecoin wallet, allowing for instant remittances to 190 countries, as well as an AI-based spending tracking function and accounts receivable management function.

Jeevs' founder and CEO Dilipp Tazmoon said the platform is necessary for providing the same speed and cost when moving money between Sao Paulo and Berlin as when transacting within a country, stating, 'it had to be based on stablecoins.'