Jeeves eyes Middle East launch by 2025, CEO hints at Web Summit Qatar 2024
In an insightful conversation at Web Summit Qatar 2024, Dileep Thazhmon, CEO and Founder of Jeeves, discussed potential plans for the company’s expansion into Qatar by 2025.
Reflecting on his personal connection to Doha, where he spent his childhood, Thazhmon highlighted the city’s significant development over the years, especially since the World Cup and expressed excitement about returning with Jeeves’ innovative financial solutions.
Thazhmon detailed Jeeves’ strategic approach to entering new markets, emphasizing the company’s reliance on robust infrastructure that allows for scalability without the need for extensive localization of its technological stack. This strategy, he noted, enables Jeeves to swiftly adapt to new markets, with the primary requirement being the acquisition of local licenses.
“Originally the plan to move into the Middle East after Europe. When you think about moving or starting in Doha, for instance, we could launch here as soon as next year because we don’t have to rebuild any of that stack.”
– Dileep Thazhmon, Jeeves CEO and Founder
Jeeves operates as a global fintech platform, offering businesses an all-in-one corporate card and expense management solution. Since being founded in 2019, the company has become popular for enabling international businesses to manage their finances efficiently across borders and in different currencies.
The company raised $265 million in funding from tech giants like Tencent and currently operates in 20 countries, including key markets like Mexico, Brazil, Colombia, the United States, Canada, the United Kingdom, and various European nations. However, it has yet to enter the Middle Eastern market.
The discussion at Web Summit Qatar 2024 also touched upon the unique challenges and strategies for localizing services in diverse regions like the Middle East, contrasting with Jeeves’ experiences in Latin America and North America. Thazhmon underscored the importance of the local language.
Jeeves always wants to go beyond mere translation when offering its services to ensure that the platform’s user experience and product offerings resonate with local customs and consumer behaviors. This approach to localization, according to the CEO, is crucial for tailoring their services to meet the specific needs of each market, whether it’s adjusting credit offerings or deposit services.
