Jeeves, a leading LATAM B2B payments and corporate card platform for businesses, has closed a US$75 million credit facility with Community Investment Management (CIM), a prominent global impact focused investment manager actively investing in Latin America.
In addition to supporting the company’s rapid scaling, this financing will enhance Jeeves’ financial product suite in its primary Latin American markets – Brazil, Colombia, and Mexico.
Dileep Thazhmon, founder and CEO, Jeeves, said: “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.”
The new CIM credit facility allows Jeeves to expand Jeeves Pay and other key product offerings in strategic LATAM markets – including the introduction of Jeeves Pay to Brazilian businesses on the back of market demand.
The flexibility inherent in the Jeeves offer has garnered significant traction among LATAM enterprises, with payment volumes surging by more than 150% year to date.
“We are focused on supporting innovative financial solutions that foster business growth and economic development,” said Jacob Haar, Managing Partner, CIM. “Our collaboration with Jeeves is an exciting step towards enhancing the financial infrastructure in Latin America, particularly in Brazil, Colombia, and Mexico, where the potential for Jeeves’ impact is substantial.”
