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§ Private Profile · 1160 Battery Street East, San Francisco, California, United States
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.
Veem offers a global payment platform that streamlines international business transactions. It employs a multi-rail approach, allowing businesses to efficiently send and receive funds across borders with competitive exchange rates and transparent fees. The platform automates accounts payable and receivable operations.
Founded in 2014 by Marwan Forzley and Aldo Carrascoso, the company began as Align Commerce. Their core insight was the inefficiencies and high costs businesses faced with traditional international payment systems, which drove them to create a more accessible cross-border money transfer solution.
Veem primarily serves businesses, facilitating international commerce by enabling payments to over 100 countries and many currencies. Its vision seeks to redefine global business payments, aiming for a seamless, secure, and cost-effective financial network connecting worldwide economic participants.
Key people at Veem.
Veem has raised $93.1M in total across 5 funding rounds.
Veem's investors include Truist Ventures, Album VC, Andreessen Horowitz, Balderton Capital, CRV, Decibel Partners, Expa, Foundation Capital, FTAC Ventures, Grace Beauty Capital, Karim Faris, GV.
Veem has raised $93.1M across 5 funding rounds. Most recently, it raised $31.0M Series C in September 2020.
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]
