Jeeves

“Jeeves has done a lot with the central bank in Brazil. And so they are helping corporations move money internationally via stable coins”

“We raised three rounds in 12 months. We raised two hundred fifty million dollars in 12 months, right?”

“The fact that you're an outsider is a really good thing because you don't look at it the same way. If I had 25 years of banking experience, I'd just be so coded in a certain way of like, well, this is deep. I can't do anything more. Let's just do one country, …”

“We covered 25. We are filing to become a full bank by next year as well.”

“You should start with, can you give the product for free? You should start with, can I pay you to use the product? If I can't pay you to use the product, there's no scenario that you can charge for the product.”

“We started shipping U.S. Cards, and we just ate the FX. It's not a good business model, but it shows there's demand. And then I'm like, okay, now let's go get licenses.”

“I was starting this and I had talked to a VC fund and they said, look, we'll give you three million dollars for a fifteen million post. And that's it. We'll take the whole round. Great, like ideas resonating, blah, blah. And then COVID happened, right? And COV…”

“I remember our last round, it was supposed to be funded on end of February, 20, 22, which was, by the way, when the Russia-Ukraine, you know, invasion war, etc, started. And that was another whole cycle where You know, people were just like literally the day o…”

“US cards work everywhere. It's just not a long-term, like you can't really run a business using US cards because you'll just get two percent fees on everything you do, right? Like, which is not sustainable for a business, but you can absolutely use the card.”

“We had three rules for countries we wanted to operate in. So one, do they have what we call fintech we want, which is ability to look at bank accounts, open banking. There's some way to reduce the risk so we know what we're looking at... Two is the government …”

“I think founders have to be 60% good at everything. And product was a great example. I would be on every single call every day. We had two standups, obviously not good enough to scale it, but good enough to get it off the ground. I did the UX. I did the UI. I …”

“The value of Jeeves is better the more countries we cover, because even for that company in Mexico, now we cover Spain, big corridor Spain to Mexico. We cover that. We can give you a card in Spain. Your founder lives in UK. We can give him a card. Like, so it …”

“We launched this product called Jeeves Pay. And today that's about 40% of our revenue.”

“We had one lead urban innovation fund that put in about a million out of that. I think it was 4.5. It was, if I remember correctly, everything else was small checks and you have to do a lot of work to manage it.”

“What we do at GEOS that's very unique is the first three sit on our own spec using different partners. So when we go from Mexico to Colombia, we only need to change number four, the bin.”

“And even today, if you go to the Mexican airport, you'll see our ads when you come in. And we've had that for five years, and it is, well, incredibly cost effective.”

“The reason we're here today and growing and have, you know, 80% gross margins, three billion TPV, et cetera, was because we made that really hard call in 20, 23.”

“So we did a million in about six months and I think we were doing seven million in a little bit past a year.”

“Andreessen has made some very significant investments in LATAM over the last few years, in the likes of Loft, Jeeves, Pomelo, and Addy, to name a few.”

“And they have Built this orchestration switching layer on top, such that by definition, their platform is going to be seamless from country to country. It's going to reconcile in the back end. It's just like a very, very clever way of approaching the problem t…”