CANADIAN LAUNCH FOLLOWS COMPANY'S $183M USD FUNDING THROUGH TWO HIGHLY SUCCESSFUL ROUNDS IN 2021
Acclaimed fintech officially live in Canada - aiming to change the game for largely underserved startups and fast growing businesses
New service Jeeves Growth announced, allowing startups to scale faster with easy to access capital in their local currency
Corporate card and platform offers no fees, strong cashback, and able to pay employees in their local currency
TORONTO, Oct. 26, 2021 /CNW/ -- Jeeves, the all-in-one expense management platform for global startups, announced today that it has officially launched its product and services in Canada. This expansion into the Canadian market follows the company's highly successful funding rounds of a Series A at $31 million USD followed by a Series B of $57M. Both rounds were completed in 2021 in less than 90 days of each other for a total raise of $183M USD, and a valuation of more than $500M USD. The Canadian launch is the latest in a momentous year of growth for the company.
Jeeves provides a true corporate card and expense management solution for global-minded Canadian companies, with hassle-free, no fee, no interest, and no personal guarantee virtual and physical cards. In addition, Canadian entrepreneurs and business owners can earn up to 3% cashback and choose to pay the card back in USD or CAD. This makes Jeeves the ideal financial tool for Canadian startups with aspirations of expansion beyond borders.
In addition to its expense management platform and corporate card, the company has launched Jeeves Growth - allowing startups and SMEs to scale faster with easy to access non-dilutive capital in their local currency. Jeeves Growth, a new product that provides revenue based financing solutions to companies across the globe, leverages the company's infrastructure and platform to provide longer term financing options to startups and SMEs on top of our cards and revolving credit lines. This aims to solve a significant challenge faced by Canadian startups.
"By launching in Canada we seek to solve a major problem faced by a lot of Canadian startups and fast growing companies with global presence. Our multi-currency corporate card platform will allow Canadian entrepreneurs to focus on their business and less on administrative tasks, while the Jeeves' roadmap has a number of services planned that will offer significant positive changes to the Canadian startup landscape," said William Lam, General Manager of Canadian Operations.
Both Jeeves Corporate Card and Jeeves Growth run on the company's proprietary infrastructure with an easy-to-use user interface, allowing for Canadian companies to spin up their finance function within minutes.
"We differentiate ourselves by being really easy and intuitive to use. You don't need a finance degree to utilize Jeeves. Expense management can be set up in a day and your corporate card is delivered from there." said Co-founder and CEO, Dileep Thazhmon. "This has huge implications for companies waiting to be approved, holding up their growth plans. Any company regardless of industry can use our platform, however the majority of our current customer-base are high-growth startups."
Jeeves is seeking to change the paradigm and revolutionize the way global companies think about their finances. As an alternative to the often time consuming and frustrating options startups and high growth companies face when looking for an expense management solution, Jeeves has been making waves as a fast and trusted service platform built for borderless companies - something the Canadian startup landscape has sorely needed for too long.
"Jeeves is already operating in 20 countries around the world, and our aim is to launch in at least 6 to 10 additional countries each year. With the Canadian startup landscape producing so many successful and globally operated companies, we are ecstatic about launching Jeeves in this market," said Thazhmon.
Jeeves is an all-in-one expense management platform for startups in global markets including Mexico, Colombia, Chile, Canada, UK and Europe. Cash, corporate cards with upto 3% cash back, and cross border payments all run on the Jeeves proprietary infrastructure which allows companies to spin up their finance function within minutes. Jeeves can handle multiple currencies for payback. More than 1000 global companies trust Jeeves with their financial payment stack. Jeeves has raised $188 Million from Andreesen Horowitz, Y Combinator, CRV, Tencent and Silicon Valley Bank to fuel its international expansion.
Build For Borderless: The Corporate Card Tailored For Your Idea
For more information visit tryjeeves.com
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