Jeeves: $110M crypto VC funding for stablecoin
The digital asset sector saw a significant injection of capital between September 26 and October 2, with reported crypto VC funding reaching $178.6 million across four disclosed transactions. This influx was prominently led by Miami-based fintech firm Jeeves, which secured a substantial $110 million equity round, signaling strong investor confidence in stablecoin-native business solutions.
During the same period, World Assets announced $49 million from private sales of its WLD tokens. Meanwhile, Solana Company garnered $15 million through a registered direct offering, highlighting varied strategies companies are employing to attract investment in the evolving cryptocurrency landscape. These financing announcements paint a picture of ongoing development and strategic growth.
Jeeves secures $110 million for global stablecoin platform
Jeeves, a key player in business payment solutions, officially confirmed its $110 million equity financing on September 29. The round, spearheaded by CoinFund, underscores a growing institutional belief in platforms facilitating stablecoin transactions for enterprises across international borders.
A diverse consortium of high-profile investors participated, including AllianceBernstein, Andreessen Horowitz, Coinbase Ventures, CRV, GIC, Global PayTech Ventures, ParaFi, Vista, Wintermute, and Y Combinator. This broad backing from both traditional and crypto-native venture capital firms signals a maturation of the market for business-focused digital finance tools.
The Miami-based company provides a comprehensive suite of financial instruments for businesses operating globally. Its offerings include corporate cards, accounts payable automation, treasury management, and integrated spending tools, all designed to simplify cross-border operations.
Jeeves has reported impressive growth, with its annualized card and payments volume now exceeding $5 billion. Crucially, $1.5 billion of this volume was settled directly using stablecoins, demonstrating rapid adoption of digital currencies for commercial purposes. This quick embrace of stablecoin payments highlights their utility in reducing transaction costs and speeding up international transfers.
The company noted its stablecoin transaction volume reached the $1.5 billion mark within just eight months of implementation. Revenue also saw a fourfold increase over the past 14 months, indicating strong product-market fit and efficient scaling. Moreover, more than 80% of its customer base actively leverages multiple Jeeves products.
With this fresh capital infusion, Jeeves has launched several new features to enhance its platform. These include a stablecoin wallet offering payouts to 190 countries, an AI-powered spending tracker for improved financial oversight, and a new accounts receivable module designed to streamline payment collection for businesses.
Further expansion plans are underway, with Jeeves increasing its stablecoin card offering from 25 to 35 countries. The company is also establishing a new office in Madrid to support its growing European operations. New markets slated for expansion include Argentina, Costa Rica, Guatemala, Panama, Peru, Paraguay, and Uruguay, deepening its footprint across Latin America.
David Pakman, managing partner at CoinFund, cited Jeeves’ extensive existing business customer base across Latin America, the United States, and Europe as a primary rationale for their investment. This established market presence and proven track record were critical factors in attracting such a significant funding round, distinguishing Jeeves in a competitive landscape.
Walapay secures seed funding
Adding to the week’s business payment platform funding, Walapay announced on October 1 that it had raised $4.6 million in seed funding. This round was led by Generative Ventures, with participation from Commerce Ventures, Polygon, Verda Ventures, NGC Ventures, FGV Capital, AAF, Jsquare, Knollwood, and Big Brain Holdings.
Founded by brothers Tom and Dimitri Borgers, Walapay integrates multicurrency accounts, foreign exchange services, collections, and global payouts through a single API. The company boasts coverage across more than 180 countries and 60 currencies, processing an annualized payment volume of $2.5 billion. Walapay plans to expand its licenses, banking partnerships, and team, focusing on local payment connections across Latin America, Africa, and Asia.
World Assets discloses $49 million in WLD token sales
In a distinct financing approach, World Assets disclosed on September 28 that it completed $49 million in over-the-counter (OTC) WLD token sales over the preceding month. This activity highlights the continued prevalence of token-based financing within the crypto ecosystem, diverging from traditional equity rounds.
The transactions included a one-year lockup period for the WLD tokens, a common mechanism used to demonstrate long-term commitment from investors and prevent immediate market sell-offs. While some token deliveries had already concluded, the remaining transfers and settlements were scheduled to finalize within that same week.
It’s crucial to note that this $49 million represents the disclosed value of private token sales, not an equity investment in associated entities like Tools for Humanity. Nor does it signify a project valuation in the traditional sense, as recorded by CryptoRank under World’s funding history.
Instead, it reflects a direct capital infusion through the sale of digital assets, impacting the token’s distribution and potential liquidity.
The announcement encompassed several sales across an entire month, meaning the reported amount signifies cumulative financing secured during the reporting window. This distinction is important for understanding the cadence of funding versus a single, immediate capital raise. It offers a glimpse into how projects manage token supply and secure funds from private holders without diluting equity.
Solana Company raises $15 million in direct offering
Shifting to public market financing, Solana Company, a Nasdaq-listed entity, announced on September 30 a registered direct offering expected to yield approximately $15 million in gross proceeds. This move provides a different perspective on how established crypto-adjacent businesses secure capital, opting for traditional securities markets rather than venture rounds.
The Philadelphia-based company agreed to sell 4,369,356 Class A shares at $3.433 each to a single institutional investor. Accompanying these shares were warrants covering an equal number of additional shares, exercisable at $3.776. This structured offering leverages conventional financial instruments to attract capital.
Solana Company stated that the share price in the offering represented a 5% premium to its net asset value per share, while the warrant exercise price was set at a 10% premium. Such premiums can signal investor confidence in the company’s future performance and its underlying assets.
The proceeds from this offering are earmarked for the company’s “SOL-per-share” strategy. This includes potential share repurchases and further purchases of Solana’s native token, SOL, alongside general working capital and business expansion initiatives. The strategy aims to enhance shareholder value by increasing the company’s exposure to SOL.
As of September 24, the company reported holding 2.3 million SOL tokens and $2.3 million in cash and stablecoins, providing a solid asset base. Clear Street served as the exclusive placement agent for the offering, which was expected to close around October 1, subject to customary conditions. This financing method represents a public company seeking capital, distinct from early-stage venture funding.
Undisclosed investments back trading and AI infrastructure
Beyond the disclosed sums, the reporting window also saw strategic investments with undisclosed amounts, pointing to continued interest in specialized crypto infrastructure. These rounds often signify long-term commitments rather than immediate liquidity events.
Raven secures strategic backing
Raven, a liquidity provider for prediction markets, digital assets, and token projects, secured strategic backing from Coinbase Ventures and CMCC Global. Casino.org reported this on September 29, noting the investment placed Raven at a $90 million pre-money valuation.
While the exact investment amount remains confidential, the involvement of prominent crypto-focused funds like Coinbase Ventures and CMCC Global is significant. CMCC co-founder Charlie Morris is set to join Raven’s board, providing valuable strategic guidance. This development follows a $2.7 million seed round in 2024 that valued the firm at $25 million, demonstrating substantial growth in valuation.
Grass attracts Multicoin Capital investment
Grass, a unique platform that utilizes contributors’ spare internet bandwidth to gather public web data for AI customers, also received an undisclosed investment. Multicoin Capital’s hedge fund and venture fund announced their backing on September 29, highlighting a confluence of AI and web3 innovation.
Multicoin cited Grass’s reported revenue of $17 million in 2025 and another $17 million during the first half of 2026 as indicators of its strong market traction. The investor noted Grass is actively developing advanced live information retrieval tools, including a proposed Contents API, a Search API, and a comprehensive web index, which could significantly enhance machine intelligence capabilities.
This investment illustrates the growing appetite for infrastructure plays that bridge traditional internet data collection with decentralized models. Such projects are becoming critical as artificial intelligence applications demand vast, verifiable datasets. The backing from a major player like Multicoin Capital validates Grass’s innovative approach.
Broader implications for crypto VC funding
The diverse range of financing activities observed from September 26 to October 2 reflects a nuanced but active crypto investment landscape. Companies are tapping into various capital sources, from traditional equity rounds led by venture capitalists to private token sales and public market offerings. This adaptability showcases the industry’s resilience in securing necessary funds for growth and innovation.
The significant focus on business payment platforms, notably Jeeves and Walapay, indicates a maturing market seeking practical, enterprise-level solutions leveraging blockchain technology and stablecoins. Investors are increasingly looking beyond speculative plays toward projects with tangible use cases and demonstrable revenue streams.
Furthermore, the investments in specialized infrastructure like Raven and Grass highlight a strategic pivot towards foundational technologies that underpin the next wave of crypto and AI innovation. These projects, even with undisclosed funding amounts, suggest long-term vision from investors keen to support critical components of the digital economy.
The co-existence of public market offerings, such as that by Solana Company, alongside private VC rounds and token sales, illustrates the expanding avenues for crypto-related entities to raise capital. This diverse funding ecosystem provides flexibility for companies at different stages of their development.
It also offers varied risk-reward profiles for investors, from early-stage venture backing to more liquid public market opportunities. The market seems robust enough to support these diverse models, fostering continued development across the blockchain sector.