Veem
{{Short description|Global payments platform}}
{{Notability|org|date=January 2019}}
{{Infobox company
| name = Veem
| logo = Veem logo.svg
| logo_caption = Logo used from 2017 to present
| image =
| former_name = Align Commerce
| type = Private
| traded_as =
| industry = Payment services
| fate =
| successor =
| foundation = San Francisco ({{Start date|2014}})
| founder = {{ubl|Marwan Forzley|Aldo Carrascoso|}}
| hq_location = San Francisco
| location_city =
| location_country = United States
| area_served = Global: Europe, United States, Canada, Asia-Pacific, Latin-America
| key_people = {{ubl|Marwan Forzley (CEO)}}
| products = International Payments, Domestic Payments, Accounting Integrations, Working Capital, Digital Wallets
| production =
| services = Financial Services
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| parent =
| owner =
| num_employees =
| homepage = {{URL|https://www.veem.com/|veem.com}}
| footnotes =
}}
Veem, formerly Align Commerce,{{Cite web|title=Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs|url=https://techcrunch.com/2017/03/08/align-commerce-veem-24-million/|access-date=2020-10-23|website=TechCrunch|language=en-US}} is a San Francisco–based online global payments platform founded in 2014 by Marwan Forzley and Aldo Carrascoso.{{Cite web|date=2020-06-26|title=Podcast 253: Marwan Forzley of Veem|url=https://www.lendacademy.com/podcast-253-marwan-forzley-of-veem/|access-date=2020-10-23|website=Lend Academy|language=en-US}} The company uses a payment routing method they refer to as "multi-rail technology,"{{Cite web|title=LFP161 – Global B2B Payments & Multi-Rail Technology w/Marwan Forzley CEO Veem |url=https://londonfintechpodcast.com/lfp161-global-b2b-payments-multi-rail-technology-w-marwan-forzley-ceo-veem/|access-date=2020-10-23|website=londonfintechpodcast.com}} where transactions are routed through different methods, or "rails", such as credit cards, checks, or cryptocurrency.{{Cite web|last=Levy|first=Ari|date=2018-02-18|title=There's a lot of blockchain hype, but money-transfer start-up Veem is using it today|url=https://www.cnbc.com/2018/02/18/veem-start-up-uses-blockchain.html|access-date=2020-10-23|website=CNBC|language=en}}
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."{{Cite web|title=Staying true to Ottawa roots, San Francisco's Veem brings money transfer solution to Canada|url=https://obj.ca/techopia-ottawa-veem-san-francisco-fintech-money-transfer|access-date=2020-10-23|website=Ottawa Business Journal|language=en}} Veem is integrated with QuickBooks, Xero, NetSuite, Plaid, Zapier and Q2 banking platform.{{Cite web |title=Veem opens up global payments platform to developers with new API |url=https://techcrunch.com/2017/11/28/veem-opens-up-global-payments-platform-to-developers-with-new-api/ |access-date=2022-07-05 |website=TechCrunch |language=en-US}}{{Cite web |title=How 'Embedded' Payment Providers are Transforming Fintech |url=https://www.financemagnates.com/fintech/news/how-embedded-payment-providers-are-transforming-fintech/ |access-date=2022-07-05 |website= Finance Magnates |date=31 January 2020 |language=en}}
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.{{Cite web |title=Payments Industry News & Analysis |url=https://www.americanbanker.com/payments |access-date=2022-07-05 |website=American Banker |language=en}}
Recognition
- Veem was listed in the 2018 Forbes Fintech 50.{{Cite web|last=Sharf|first=Samantha|title=Forbes Fintech 50 2018: The Newcomers|url=https://www.forbes.com/sites/samanthasharf/2018/02/13/forbes-fintech-50-2018-the-newcomers/|access-date=2020-10-23|website=Forbes|language=en}}
- Veem was recognized as Quickbooks 2017 Top 10 App of the Year,{{Cite web|date=2018-01-23|title=App Showdown Finalist Profile – Veem: A Modern Solution for Wire Payments|url=https://quickbooks.intuit.com/blog/news/app-showdown-finalist-profile-veem-modern-solution-wire-payments/|access-date=2020-10-23|website=QuickBooks|language=en-US}}
- Xero's 2018 Emerging App Partner of the Year,{{Cite web|date=January 26, 2018|title=Veem Wins Emerging App Partner of the Year in Xero Awards Americas |website=InsidePublicAccounting|url=http://insidepublicaccounting.com/2018/01/veem-wins-emerging-app-partner-of-the-year-in-xero-awards-americas/|access-date=2020-10-23|language=en-US}}
- Listed as a 2020 top accounting app by Accounting Today.{{Cite web |date=2020-10-01 |title=Expert's choice: Top accounting apps |url=https://www.accountingtoday.com/list/experts-choice-top-accounting-apps |access-date=2022-07-05 |website=Accounting Today |language=en}}
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.{{Cite web|title=Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs|url=https://techcrunch.com/2017/03/08/align-commerce-veem-24-million/|access-date=2020-10-23|website=TechCrunch|language=en-US}}
References
{{reflist}}
External links
- [https://veem.com Official website]
{{Digital payment providers}}
Category:American companies established in 2014
Category:Payment service providers