back Back

Jeeves secures $75m financing to expand LatAm footprint

By Delisha Fernandes

May 07, 2024

  • B2B Payments
  • Cash Flow
  • Corporate card
Share

JeevesJeeves, the B2B payments and corporate card platform for businesses in Latin America, has closed a $75 million credit facility with Community Investment Management (“CIM”).

In addition to supporting the company’s rapid scaling, this financing will enhance Jeeves’ financial product suite in its primary Latin American markets – BrazilColombia, and Mexico.

With the new credit facility from CIM, the company will double down on expanding Jeeves Pay and other key product offerings in strategic Latin American markets. Dileep Thazhmon, founder and CEO of Jeeves, stated, “We are helping our customers save time and money, and reducing the friction of operating globally. We are thrilled to partner with Community Investment Management, as we share the same mutual vision – empowering businesses in Latin America to thrive not only locally, but also globally. This financing enables us to significantly broaden our capabilities in the region and deepen our relationships with our customers.”

Jeeves Pay enables seamless cross-border payments from MexicoColombia, and Brazil to dozens of countries, including China and the USA, through popular local networks such as SPEI, SWIFT, and PIX, all without transaction fees. What distinguishes Jeeves Pay is its flexibility and optionality for customers: enterprises can choose to use their own funds or Jeeves’ line of credit for each transfer, empowering them with greater control over cash flow management. When additional cash flow is required, businesses can leverage their Jeeves line of credit to access repayment terms of up to 37 days. When extra liquidity is not needed, companies can opt to use their own capital for interest-free transfers.

This partnership with CIM validates the B2B payments and corporate card platform’ market position while enhancing its capability to serve more local businesses with increased efficiency.  “At Community Investment Management we are focused on supporting innovative financial solutions that foster business growth and economic development,” said Jacob Haar, Managing Partner of CIM. “Our collaboration with Jeeves is an exciting step towards enhancing the financial infrastructure in Latin America, particularly in BrazilColombia, and Mexico, where the potential for Jeeves’ impact is substantial.”

Through collaboration with CIM, the B2B payments and corporate card platform aims to expand its reach and deepen its impact on enterprises and medium-sized businesses in MexicoColombia, and Brazil.

Previous Article

May 07, 2024

LAB Group & CreditorWatch team to simplify digital onboarding processes

Read More
Next Article

May 07, 2024

Myanmar’s AYA Bank goes live with SmartStream’s digital payments platform

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

B2B Payments

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 24, 2024

Capital on Tap partners with Plaid in the UK

Read More

May 24, 2024

FE fundinfo acquires German FinTech Dericon

Read More

May 22, 2024

Lili launches Accountant AI to streamline finances for SMBs

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023