Jeeves, an expense management platform for global startups, has raised $57 million in a Series B funding round at a $500 million valuation.
The round was led by CRV with participation from Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management and angels including basketball star Kevin Durant and Monzo founder Tom Blomfield.
It comes just two months after the company emerged from stealth with a Series A that included $31 million in equity and $100 million in debt financing.
Jeeves has built an all-in-one expense management platform for startups in global markets, providing underwriting, 30 days of credit in local currency and the payment rails for any business spend across countries and currencies.
Jeeves already powers more than 1000 companies including Mexico, Colombia, Chile, Canada, UK and Europe. It has a 15000+ company waitlist and has set a target to cover 30 countries in the next three years.
Dileep Thazhmon, CEO, Jeeves, says: "We were not looking to do another financing round this soon after our Series A, but fueled by our exponential growth, we received strong interest and term sheets from multiple funds.
"We're building an all-in-one global expense management platform for startups in LatAm, Canada, Europe and UK - cash, corporate cards, crossborder - all run on our own infrastructure. This gives us a lot of flexibility and allows us to offer a truly unique product for our customers."