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Armed with a major round of funding, New York-based fintech startup Jeeves is expanding in Canada.
The all-in-one expense management platform raised a USD $57 million Series B round led by CRV at a valuation of half a billion.
Cash, corporate cards with up to four percent cash back, and cross-border payments all run on the Jeeves proprietary infrastructure which allows companies to spin up their finance function within minutes.
The round also included participation from Tencent, Silicon Valley Bank, Alkeon Capital Management, Soros Fund Management and a group of high-profile angel investors including Kevin Durant, Andre Igoudala, Odell Beckham Jr., and The Chainsmokers.
“Our goal is to get to 30 to 40 people in Canada across Vancouver and Toronto, so we’re hiring pretty aggressively in the market,” Jeeves co-founder and CEO, Dileep Thazhmon, told BetaKit in an interview.
“A big part of this raise is to establish ourselves as the largest player in each local market, building and growing out the team in that region.”
Beyond expansion, the fintech startup intends to acquire new talent and accelerate the onboarding of new companies to the platform.
According to Thazhmon, Jeeves currently has 1,000 customers and more than 15,000 companies are on its waitlist for services. Of that number roughly 20 percent are Canadian.
Jeeves currently has 60 employees with 10 residing in Canada.