Jeeves is all-in-one expense management platform for startups which first launched product and services in Canada in 2021 following the company’s successful Series A & B funding rounds totalling USD$88 million.
Jeeves’ corporate card and expense management solution for global-minded Canadian companies makes Jeeves “the ideal financial tool for Canadian startups with aspirations of expansion beyond borders,” according to the company.
“We seek to solve a major problem faced by a lot of Canadian startups and fast growing companies with global presence,” said William Lam, General Manager of Canadian Operations for Jeeves, last year.
In 2021 Lam noted that “the Jeeves’ roadmap has a number of services planned that will offer significant positive changes to the Canadian startup landscape.”
At Collision Conference in Toronto this week, Jeeves followed through.
In addition to its expense management platform and corporate card, the company has launched Jeeves Growth in Canada, a product that provides longer-term revenue-based financing solutions to startups and SMEs.
The timing for Canadian startups is good, says Jeeves, considering the possibility of an imminent funding winter.
Jeeves Growth is offering companies generating $20,000 in monthly revenue the ability to extend their runway with non-dilutive financing that comes with a 12-month term. Venture capitalist Michael Fertik predicts that extending runway will be critical to companies enduring the funding freeze.
Jeeves was founded in New York in 2019. The company’s most recent funding round in March—a USD$180 million round—quadrupled the company’s valuation to more than $2 billion.