Veem is a technology company.
Veem has raised $93.1M across 5 funding rounds.
Key people at Veem.
Veem has raised $93.1M in total across 5 funding rounds.
Key people at Veem.
Veem is a San Francisco-based fintech company providing an online global payments platform for businesses, enabling fast, low-cost domestic and international transactions via multi-rail technology that routes payments through methods like credit cards, checks, or cryptocurrency.[1][4] It serves small to large businesses by solving high fees and complexity in cross-border payments, integrating seamlessly with tools like QuickBooks, Xero, NetSuite, Plaid, and Zapier for streamlined accounting and automation.[1][4] Features include mass payments, recurring payments, invoice capture, 1099 tracking, and blockchain for secure, tamper-proof transactions, with strong growth evidenced by recognitions like Forbes Fintech 50 (2018) and QuickBooks Top 10 App (2017).[1][4]
During the COVID-19 pandemic, Veem supported small businesses by facilitating SBA Paycheck Protection Program loans, highlighting its role in crisis response.[1]
Veem was founded in 2014 by Marwan Forzley and Aldo Carrascoso as Align Commerce, with the vision to make cross-border payments "as easy as purchasing a cup of coffee."[1] The founders drew from their experience in payments and tech to address inefficiencies in global transfers, rebranding to Veem while building a network-based platform.[1][4] Early traction came from integrations with major accounting software and partnerships, bolstered by investors like Google Ventures (GV), Goldman Sachs, Kleiner Perkins, SoftBank's SBI, and National Australia Bank Ventures.[1] Pivotal moments include its 2020 PPP involvement and awards like Xero's 2018 Emerging App Partner of the Year.[1]
Veem rides the fintech democratization wave, targeting the $2 trillion cross-border payments market fragmented by slow banks and high fees (often 3-7%).[4] Its timing aligns with blockchain's rise for secure, instant global transfers and post-COVID demand for digital tools, as seen in its PPP role aiding small businesses amid economic disruption.[1] Market forces like rising e-commerce, remote work, and SMB globalization favor Veem, which empowers underserved businesses over enterprise-only solutions like SWIFT.[1][4] It influences the ecosystem by promoting open integrations and multi-rail innovation, challenging incumbents and fostering a more inclusive payments infrastructure.[1][4]
Veem is poised to expand as global trade accelerates, leveraging AI-driven risk tools and crypto rails for sub-minute settlements in emerging markets.[4] Trends like embedded finance and regulatory tailwinds for digital payments (e.g., ISO 20022 adoption) will boost its network, potentially doubling transaction volume via new integrations and enterprise wins.[1][4] Its influence may evolve from SMB specialist to full-stack payments leader, especially if it deepens crypto or API partnerships—cementing its place in a borderless economy, much like its coffee-simple origin promised.[1]
Veem has raised $93.1M in total across 5 funding rounds.
Veem's investors include Album VC, Andreessen Horowitz, Balderton Capital, CRV, Decibel Partners, Expa, Foundation Capital, FTAC Ventures, Grace Beauty Capital, Karim Faris, GV, Incite Ventures.
Veem has raised $93.1M across 5 funding rounds. Most recently, it raised $31.0M Series C in September 2020.
