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Veem
FormerlyAlign Commerce
Company typePrivate
IndustryPayment services
FoundedSan Francisco (2014 (2014))
Founder
HeadquartersSan Francisco,
United States
Area served
Global: Europe, United States, Canada, Asia-Pacific, Latin-America
Key people
  • Marwan Forzley (CEO)
ProductsInternational Payments, Domestic Payments, Accounting Integrations, Working Capital, Digital Wallets
ServicesFinancial Services
Websiteveem.com

Veem, formerly Align Commerce,[1] is a San Francisco–based online global payments platform founded in 2014 by Marwan Forzley and Aldo Carrascoso.[2] The company uses a payment routing method they refer to as "multi-rail technology,"[3] where transactions are routed through different methods, or "rails", such as credit cards, checks, or cryptocurrency.[4]

History

Veem was founded by Marwan Forzley and Aldo Carrascoso in 2014 as Align Commerce. Forzley and Carrascoso came up with the concept to make cross-border payments, "as easy as purchasing a cup of coffee."[5] Veem is integrated with QuickBooks, Xero,NetSuite, Plaid, Zapier and Q2 banking platform.[6][7]

In April 2020, Veem acted as a front-end component to the Small Business Administration Paycheck Protection Program to facilitate loans and customer support to small businesses as a result of the COVID-19 pandemic.[8]

Recognition

Investors

Veem's investors include National Australia Bank (NAB) Ventures, GV (Google Ventures), Goldman Sachs, Softbank's SBI Investment Co., Ltd., Kleiner Perkins Caufield Byers, Silicon Valley Bank, Truist Ventures, MUFG Innovation Partners, AB Ventures, Paper Excellence, Myer Family Investments, Trend Forward Capital, and EPAY.[13]

References

  1. ^ "Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs". TechCrunch. Retrieved 2020-10-23.
  2. ^ "Podcast 253: Marwan Forzley of Veem". Lend Academy. 2020-06-26. Retrieved 2020-10-23.
  3. ^ "LFP161 – Global B2B Payments & Multi-Rail Technology w/Marwan Forzley CEO Veem". londonfintechpodcast.com. Retrieved 2020-10-23.
  4. ^ Levy, Ari (2018-02-18). "There's a lot of blockchain hype, but money-transfer start-up Veem is using it today". CNBC. Retrieved 2020-10-23.
  5. ^ "Staying true to Ottawa roots, San Francisco's Veem brings money transfer solution to Canada". Ottawa Business Journal. Retrieved 2020-10-23.
  6. ^ "Veem opens up global payments platform to developers with new API". TechCrunch. Retrieved 2022-07-05.
  7. ^ "How 'Embedded' Payment Providers are Transforming Fintech". Finance Magnates. 31 January 2020. Retrieved 2022-07-05.
  8. ^ "Payments Industry News & Analysis". American Banker. Retrieved 2022-07-05.
  9. ^ Sharf, Samantha. "Forbes Fintech 50 2018: The Newcomers". Forbes. Retrieved 2020-10-23.
  10. ^ "App Showdown Finalist Profile – Veem: A Modern Solution for Wire Payments". QuickBooks. 2018-01-23. Retrieved 2020-10-23.
  11. ^ "Veem Wins Emerging App Partner of the Year in Xero Awards Americas". InsidePublicAccounting. January 26, 2018. Retrieved 2020-10-23.
  12. ^ "Expert's choice: Top accounting apps". Accounting Today. 2020-10-01. Retrieved 2022-07-05.
  13. ^ "Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs". TechCrunch. Retrieved 2020-10-23.

External links

Payment service providers
Categories