Jeeves Revenue, Valuation, Funding & Investors

Jeeves is valued at $2.1B as of March 2022, a 52.5x multiple on its last reported $40M revenue.

Last Jeeves valuation

$2.1B

Series C · Mar 2022

Last Jeeves funding round

$180M

Series C · Mar 2022

Jeeves revenue

$40M

Series C · Mar 2022

Key investors in Jeeves

  • Y Combinator
  • Andreessen Horowitz
  • Tencent
  • CRV
  • Unpopular Ventures
  • Tribe Capital

Jeeves Overview

About Jeeves

Jeeves is a New York-headquartered global financial platform providing corporate cards, bill payments, expense management, and AI-driven accounting automation. Launched in 2019, it supports businesses in Brazil, Colombia, North America, and EMEA with tools for multi-currency transactions, serving clients like H&M, Burger King, and Nubank.


Founded

2019

HQ

United StatesMiami, FL

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based, Subscription

Revenue

$40M (Mar 2022)

Valuation

$2.1B (Mar 2022)

Jeeves Valuation

Jeeves is currently valued at $2.1B, based on its Series C in March 2022.

The $180M round was led by Tencent.

Jeeves' valuation has grown 4.2x from $500M at its Series B in September 2021 to $2.1B in March 2022, across 2 priced rounds.

Jeeves valuation by funding round

Revenue multiple
Jeeves valuation by funding round
DateStageValuationRevenue Multiple
Mar 2022Series C$2.1B52.5x
Sep 2021Series B$500M-

Jeeves Revenue

Jeeves' latest recorded revenue is $40M, as of its Series C in March 2022. At a $2.1B valuation, that implies a 52.5x revenue multiple.

Jeeves revenue by funding round

Jeeves revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Mar 2022$40M$2.1B52.5xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Jeeves Funding History

Jeeves has raised a total of $268M across 4 funding rounds.

Jeeves' first fundraising round was a $5M seed round in November 2020. The most recent completed round was a $180M Series C in March 2022.

Jeeves funding rounds

Jeeves funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Mar 2022Series CTencent (lead)$180M$2.1BJeeves is an all-in-one corporate card and expense management platform designed for global startups, offering cash, corporate cards, and cross-border payments across 24 countries and three continents at the time of the round. Founded in 2019 and launched publicly in March 2021 via Y Combinator, the company emerged from stealth in June 2021 with initial equity and debt financing. By March 2022, Jeeves had grown to serve over 3,000 companies, doubling its customer base in the prior 12 months, with a remote-first team of 150 employees across 10 countries. On March 22, 2022, Jeeves raised $180 million in a Series C funding round led by Tencent, with participation from GIC, Stanford University, Andreessen Horowitz, CRV, Silicon Valley Bank, FT Partners, Clocktower Ventures, Urban Innovation Fund, Haven Ventures, Gaingels, Spike Ventures, family offices of two FAANG founders, and Mastercard executive Carlo Enrico. The post-money valuation reached $2.1 billion, quadrupling from $500 million in its September 2021 Series B of $57 million, bringing total equity raised in the last 12 months to over $380 million. CEO Dileep Thazhmon noted receiving five term sheets amid a challenging fundraising environment. Revenue grew dramatically, with the first two months of 2022 exceeding all of 2021, more than doubling from November 2021 alone, and increasing 900% since the Series B. Jeeves plans to use the funds for global expansion into Latin America, Canada, Europe, and beyond, targeting over 40 countries in the next three years. The company positions itself for international differentiation in corporate spend management, headquartered considerations in Miami, with Thazhmon relocating there temporarily.
Sep 2021Series BCRV (lead)$57M$500MJeeves is an all-in-one expense management platform for global startups, offering cash, corporate cards with up to 4% cash back, cross-border payments, and multi-currency handling across markets including Mexico, Colombia, Chile, Canada, UK, and Europe. The platform runs on proprietary infrastructure, enabling companies to set up their finance function quickly, and serves over 1000 global companies with a waitlist exceeding 15,000. On September 2, 2021, Jeeves raised $57 million in a Series B round led by CRV, with participation from Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management, and notable angels including Kevin Durant, Andre Iguodala, Odell Beckham Jr., and Tom Blomfield. This followed a Series A in June 2021 led by Andreessen Horowitz, bringing total funding to $183 million in under 90 days at a $500 million post-money valuation. The capital was earmarked for launches in Colombia, UK, and Europe, scaling infrastructure for more currencies, hiring talent, and onboarding new customers. Jeeves demonstrated explosive growth, with transaction volume (GTV) increasing over 5000% since January 2021 and revenue growing 1150% since the Series A. The user base doubled every 60 days, powering top companies across LatAm, Canada, and Europe. CEO Dileep Thazhmon noted the round was unsought but driven by strong investor interest amid exponential growth. CRV's Saar Gur highlighted Jeeves' consistent overperformance on targets and positive customer feedback, emphasizing the challenge of building global operations from day one. The company aimed to expand to 30 countries in three years, positioning itself as a category-defining fintech for startups' spend management needs.
Jun 2021Series AAndreessen Horowitz (lead)$26M-Jeeves is an all-in-one corporate card and expense management platform for global startups, founded by Dileep Thazhmon and Sherwin Gandhi. The company provides multi-currency payments, virtual cards, credit facilities, and financial operating system services across countries and currencies. In June 2021, Jeeves emerged from stealth with $31 million in equity financing consisting of a $26 million Series A round led by Andreessen Horowitz and a previously unannounced $5 million seed round. The Series A also included participation from YC Continuity Fund, Jaguar Ventures, Urban Innovation Fund, Uncorrelated Ventures, Clocktower Ventures, Stanford University, 9 Yards Capital, and BlockFi Ventures. At the time of emergence from stealth, Jeeves had grown its transaction volume by 200x since launching its private beta in October 2020, increased revenue by 900% from a small base, and served hundreds of companies including Bitso, Belvo, Justo, Runa, Worky, and others across Mexico and Canada. The company had a waitlist exceeding 5,000 companies. Within three months of the Series A, Jeeves raised a $57 million Series B in September 2021 at a $500 million valuation, led by CRV, representing a valuation increase as it expanded into the UK, Europe, and Colombia.
Nov 2020SeedY Combinator (lead); Rebel Fund; Hanfield Venture Partners; Incisive Ventures; Lobster Capital; FoundersX Ventures; Capitoria; William Hockey; Tribe Capital; Geek Ventures; The MBA Fund; Unpopular Ventures$5M--

Who has invested in Jeeves?

15 investors have backed Jeeves across its funding rounds, including Y Combinator, Andreessen Horowitz, Tencent, CRV, Unpopular Ventures and Tribe Capital.

Lead investors include Tencent, CRV, Andreessen Horowitz and Y Combinator.


Jeeves Investors

Investors in Jeeves by funding rounds participated
InvestorHQRoundsRoleFirst check
Rebel FundUnited StatesLos Angeles, CA1ParticipantNov 2020
Y CombinatorUnited StatesSan Francisco, CA1LeadNov 2020
Hanfield Venture PartnersUnited StatesNew York City, NY1ParticipantNov 2020
Incisive VenturesUnited StatesSeattle, WA1ParticipantNov 2020
Lobster CapitalUnited StatesDover, DE1ParticipantNov 2020
TencentChinaShenzhen1LeadMar 2022
FoundersX VenturesUnited StatesSan Francisco, CA1ParticipantNov 2020
CapitoriaUnited KingdomLondon1ParticipantNov 2020
William HockeyUnited StatesSan Francisco, CA1ParticipantNov 2020
Andreessen HorowitzUnited StatesSan Francisco, CA1LeadJun 2021
Tribe CapitalUnited StatesSan Francisco, CA1ParticipantNov 2020
Geek VenturesUnited StatesNew York City, NY1ParticipantNov 2020
The MBA FundUnited StatesSan Francisco, CA1ParticipantNov 2020

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Jeeves Competitors

Jeeves competitors include listed companies like BILL.com and Corpay, and private ones like Tide, Moss, Pleo and JD Digits.

Public and private companies comparable to Jeeves
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TideUnited KingdomLondonPrivate$225M-$1.5B6.7x
MossGermanyBerlinPrivate--$1.2B-
BILL.comUnited StatesUnited StatesPublicly listed$1.7B$34M$4.1B2.4x
PleoDenmarkCopenhagenPrivate$100M-$4.7B47.0x
JD DigitsChinaBeijingPrivate--$18B-
CorpayUnited StatesUnited StatesPublicly listed$4.5B$2.4B$27B6.8x

Jeeves Public Comps

Jeeves is still privately-owned, but its public comps include Money Forward, Flywire, Vertex, Pine Labs, StoneCo, Lakala, Payoneer, Evertec, Euronet Worldwide and BlackLine.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Money Forward$324M$55M6.8x5.8x39.7x34.4x
Flywire$623M$45M3.0x2.6x41.8x11.9x
Vertex$748M$103M2.8x2.6x20.5x10.8x
Pine Labs$250M$14M8.0x6.4x145.8x32.6x
StoneCo$2.6B$965M1.3x1.2x3.6x2.2x
Lakala$827M$218M1.8x1.6x6.7x12.8x
Payoneer$821M($43M)2.6x2.0x(49.7x)7.5x
Evertec$932M$330M3.0x2.7x8.6x6.8x

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Common questions about Jeeves

When was Jeeves founded?Jeeves was founded in 2019.
Where is Jeeves headquartered?Jeeves is headquartered in Miami, FL, United States.
Is Jeeves publicly listed?No, Jeeves is a private, VC-backed company.
What is Jeeves' valuation?Jeeves was last valued at $2.1B in its Series C in March 2022.
How much funding has Jeeves raised?Jeeves has raised $268M across 4 funding rounds.
What was Jeeves' last funding round?Jeeves' last funding round was a $180M Series C in March 2022, led by Tencent.
Who are Jeeves' investors?Jeeves' investors include Rebel Fund, Y Combinator, Hanfield Venture Partners, Incisive Ventures, Lobster Capital, Tencent, FoundersX Ventures, Capitoria, William Hockey, Andreessen Horowitz and 5 others.
What is Jeeves' revenue?Jeeves' latest recorded revenue is $40M (March 2022).
What is Jeeves' revenue multiple?Jeeves' latest valuation implies a 52.5x revenue multiple ($2.1B valuation on $40M of revenue).
Which companies are comparable to Jeeves?Companies comparable to Jeeves include Tide, Moss, BILL.com, Pleo, JD Digits and Corpay.

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