Jeeves 2022 Year in Review (And Our Plans for The Future)

At the end of 2021, the Jeeves team had 20 employees and we were live in 10 countries. Fast forward to the end of 2022, and we now have over 200 employees and are live in 25+ countries.

With that growth, a lot has happened, but our mission has never changed: reinvent the global financial infrastructure for growing companies. 

In this article, we want to review our achievements in 2022, and how we’re continuing to unlock global funding for global founders in 2023. We'll cover:

Are you looking for a financial partner to help you manage global expenses and get better access to funding? Sign up today and learn more about how we can help you at Jeeves.

What happened in 2022 at Jeeves?

Quite a lot happened for us in 2022! Here are some of the top events:

We helped 5,000 businesses access funding and manage spend

We now have over 5,000 customers across 25 countries and 4 regions, and 30% of our customers use multiple features on our products. Our goal for next year is to focus on this number and make it easier for customers to use all our products.

We launched in Brazil

As part of our mission to help global businesses and serve 40 countries in three years, we’re launching in new geographies to help these companies with financing.

In March of this year, we expanded in Latam to include Brazil, and have now grown the local team to 30 people.

Our team size grew to over 200 people

Jeeves year in review 2022: global offices
Jeeves teams in the UK, Canada, Brazil and Mexico

We’ve expanded the Jeeves team to help serve our 25 countries and have hired some incredible people to help us on the mission. Some notable mentions include:

We had two funding rounds and reached a valuation of $2.1 billion

In September 2021, we raised $57 million, and seven months later, in March 2022, we raised $180 million, quadrupling our valuation to $2.1 billion. Reaching a higher valuation allowed us to grow at a much faster pace and therefore help even more businesses with access to funding and managing expenses.

We launched Jeeves Growth, Working Capital and Jeeves Pay

We launched some new products this year, including:

  • Jeeves Growth Capital: Helping companies get funding based on their revenue.
  • Jeeves Working Capital: A revolving line of credit on 30, 60 or 90 day terms that is founder friendly.
  • Jeeves Pay: The only cross-border payment method that allows companies to make international payments that are credit-backed.

These products are now live in 6 different countries, empowering Jeeves’ customers with greater financial flexibility to pay their domestic and international invoices and receive funding in the currency of their choice.

We shared our story in a documentary by HubSpot for Startups and LinkedIn

Looking forward: how we’re reinventing global financial infrastructure 

We set up Jeeves because our founder, Dileep Thazhmon, experienced first hand how painful it was to manage multiple vendors when expanding his company to other countries.

He required three to four vendors just for payins and payouts. When he added multiple currencies and countries into the mix, it quickly became a nightmare. As a fast-growing company, this process was unproductive, slow, and costly.

No expense management or payment company provided an all-in-one solution that was also global. And that’s when Jeeves was born.

Read more about the foundations of Jeeves here: Getting Credit As a New Company Used to be Practically Impossible. We’ve Made it Easy (And Free)

At Jeeves, our mission is to reinvent the global financial infrastructure and help companies get funding without borders. 

How our core infrastructure and business model makes us better positioned to help global businesses

In March 2021, no one knew about Jeeves. That’s because in the first 8 to 10 months, we were completely in stealth mode. We were ultra focused on building up our infrastructure in a way that would allow us to launch in multiple countries quickly.

Our infrastructure is what makes us unique: we don’t plug into a third-party player to offer funding and financial products. Instead, we built our own onboarding flow, programme manager and payment processor. Thanks to our set-up, we have a second layer that sits on top of our financial stack that can serve each country. Whenever we launch in a new country, we only need to change the BIN issuer. 

While most fintech companies are single geo entities, our financial infrastructure allows us to operate in multiple geographies. This is how we can launch in a new country in 2 - 3 months rather than 8 months.

Our singular infrastructure also means we can combine six different vendors into one financial tool.

Currently, our financial stack includes:

The only way to build up a global payment stack is to own your own infrastructure – that’s what makes Jeeves different. 

If you’re a growing business, sign up to Jeeves in 5 minutes and you’re done. As our founder, Dileep, mentioned in his talk at Web Summit, Jeeves is an all-in-one finance platform, accessible via one app.

The vision: Empower 100k businesses globally

The current financial system dates back to the 1980s and 90s. To this day, there is still no efficient, business-friendly international financial infrastructure.

What if you could move capital across regions and not pay FX fees? Or what if you could get access to capital within days that could power you for the next 3 months – without having to pay an arm and a leg in fees? What if you could access all your payment rails in one place, completely fee free?

We’re building a new financial system that works in any country and in any currency.

With our financial stack and layering, our objective is to help enable that vision and empower over 100k businesses around the world to manage money across borders and get funding whenever they need it.

What’s coming in 2023?

Jeeves has been operating now for 18 months. Here’s what’s coming next year:

In 2023, we’ll be focusing on multi-product usage while we continue our global expansion. 

As for new products and product features, we can’t mention anything specific yet, but we will be launching exciting products and features designed to help our customers and take our financial infrastructure to the next level.

It’s been a fantastic 2022, and we wouldn’t have been able to achieve all this without our incredible team, investors, customers and biggest supporters.

We hope everyone enjoys the holidays and has a Happy New Year! See you all in 2023. 🦁

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