Jeeves lands $75M credit line to grow its Latin America operations

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B2B payments and corporate card platform Jeeves secured a $75M credit facility from Community Investment Management (CIM), 25 months after its March 2022 $180M Series C at a $2.1B valuation.

Jeeves will use the debt funding to finance its credit product, and it will leverage the funds raised in previous rounds to support the Latin America expansion of its cross-border payment solution Jeeves Pay, aiming for Brazil to contribute 25% of its revenue within a year.

“This is one of our fastest growing products in markets like Mexico and Colombia, and we’ve just launched it in Brazil,” said Dileep Thazhmon, Cofounder and CEO of Jeeves.

Jeeves’s corporate expense management solutions serve medium to large global companies with credit lines, employee expense control cards, and international accounts.

Founded in 2021, Jeeves has since expanded to over 20 countries, and its client base of over 6,000 companies includes brands like Burger King, H&M, Kavak, and Rappi.

Read more on LatamFintech and PR Newswire

Felipe is currently an investment intern at Magma partners while he finishes his business administration studies at CESA university in Bogotá. He was the first employee of Colombian proptech Duppla, where he fell in love with startups and their potential to solve Latam’s biggest problems

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