Jeeves raises $110M from a16z, Coinbase for crypto expansion
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Jeeves completed a $110 million equity raise and said the money is for stablecoin banking and broader fintech offerings. The round included CoinFund as lead investor, with participation from Andreessen Horowitz, Coinbase Ventures, AllianceBernstein, GIC and Y Combinator. Jeeves also described plans tied to stablecoin wallets and AI tools, alongside a push into crypto infrastructure.
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What it means
For users and business customers, the immediate change is that Jeeves is moving capital into stablecoin banking, stablecoin wallets and AI tools. That means the company is positioning more of its service set around cross-border transactions and fintech functions that were named in the announcement.
In practice, the financing does not change the fact that Jeeves is still a fintech company, but it adds a dedicated stablecoin banking angle to its offerings. The round also now has named backers, including CoinFund, Andreessen Horowitz and Coinbase Ventures, whereas the earlier coverage did not identify the participants.
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