Sherwin Gandhi, Co-Founder and President of Jeeves — Offering Borderless Enterprise Banking | by Anirudh Singh | Wharton FinTech | Nov, 2021


Anirudh Singh

In at present’s episode, Anirudh Singh sits down with Sherwin Gandhi of Jeeves.

They talk about:

Sherwin’s background:
Sherwin started his profession at JP Morgan engaged on mounted revenue and fairness derivatives. Later he managed a $200mm world hedge fund and based two multi-national startups. All through his early profession, Sherwin observed how fragmented the worldwide banking tech stack was. With 2–3 banking distributors in every nation, startups require dozens of knowledge sources with a purpose to get a real, world view of their funds. With Jeeves, Sherwin has constructed the product he wished he had, a borderless enterprise financial institution that has integrations for lending, funds, and deposits.

Jeeves:
At Jeeves, Sherwin is seeking to construct worldwide banking infrastructure from the bottom up. He has excessive aspirations for the corporate’s future:

“We at Jeeves are constructing an answer that helps entrepreneurs construct their very own companies and maintain extra possession. I would love nothing greater than for Jeeves to be the enterprise financial institution of selection in the long term. The imaginative and prescient is to construct a workflow answer on high of all of the monetary companies that entrepreneurs need to or want to make use of in a non-dilutive means. If we are able to get on the market with that answer all all over the world, that might spell success.”

Worldwide Growth:
Jeeves at present operates in Mexico, Canada, Colombia, Chile, the US, and the UK. Jeeves’ growth plan is essentially data-driven; in Mexico, the crew noticed wealthy underwriting knowledge that may very well be used to offer sooner, cheaper strains of credit score, and integrations that allowed for Jeeves to shortly launch its mannequin. With every new nation, Jeeves has to compete towards native incumbents and banks, however Sherwin has discovered that Jeeves’s workflow-based product and robust capitalization give it an edge in most markets. Moreover, Sherwin has discovered that early-stage corporations are usually early adopters of latest, progressive merchandise. This enables Jeeves to get in on the bottom flooring and scale alongside its shoppers.

Fundraising and Hiring:
Jeeves has skilled a big quantity of progress since elevating its seed spherical about 1 12 months in the past. The corporate has now raised over $88mm in fairness and $100mm in debt, permitting it to lend into completely different nations. As a part of the Collection B spherical, Sherwin additionally introduced on a big variety of different founders as angel buyers, together with the founders of 5 Latin-American unicorns.

Lastly, and most significantly, Jeeves is hiring! The crew has open alternatives within the danger, finance, engineering, product, gross sales, and advertising and marketing departments. With over 100 individuals on the crew and solely 10 working from throughout the U.S., Jeeves makes use of a totally distributed mannequin, which helps mould the corporate’s DNA and permits the crew to draw the very best expertise from all over the world.

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Sherwin Gandhi:

In 2019 Sherwin Gandhi based Jeeves, which presents a set of cross-border B2B monetary companies together with funds, loans, and expense administration software program. Prior to now 14 months, Sherwin has raised $88mm of fairness and $100mm of debt from Y Combinator, Andreessen Horowitz, CRV, Tencent, Silicon Valley Financial institution, and different buyers, whereas launching in over 20 nations and reaching a valuation of $500mm. Jeeves has 1000’s of shoppers globally and is nearing $10mm of income — and was lately named certainly one of The Info’s 50 Most Promising Startups to observe. At Jeeves, Sherwin is unlocking globalization by architecting the way forward for world enterprise banking in order that entrepreneurs can deal with rising their companies by accessing non-dilutive capital and true cross-border banking options.

Previous to Jeeves, Sherwin based two corporations and led go-to-market, finance, engineering, regulatory, and product at two unicorns — AppNexus and Viagogo. Earlier than changing into a Silicon Valley founder, he was a dealer and funding banker on Wall Road, the place he issued $17bn of multicurrency mounted revenue and fairness derivatives at JPMorgan and was a hedge fund supervisor of a $200mm world fund.

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In regards to the Creator
Anirudh Singh is a second-year MBA Candidate at The Wharton College, the place he’s a part of the Wharton FinTech Podcast crew. He has a ardour for financial improvement, enterprise capital, monetary companies, and all issues FinTech. Don’t hesitate to achieve out with questions, feedback, suggestions, and alternatives at singhan@wharton.upenn.edu.



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