Veem

Short description: Global payments platform

Veem

Logo used from 2017 to present

Formerly| Align Commerce
Type| Private
Industry| Payment services
Founded| San Francisco (2014 (2014))
Founder|

* Marwan Forzley
* Aldo Carrascoso

Headquarters| San Francisco,

United States

Area served

| Global: Europe, United States, Canada, Asia-Pacific, Latin-America

Key people

* Marwan Forzley (CEO)

Products| International Payments, Domestic Payments, Accounting Integrations, Working Capital, Digital Wallets
Services| Financial Services
Website| veem.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]

## Contents

* 1 History
* 2 Recognition
* 3 Investors
* 4 References
* 5 External links

## 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

* Veem was listed in the 2018 Forbes Fintech 50.[9]
* Veem was recognized as Quickbooks 2017 Top 10 App of the Year,[10]
* Xero's 2018 Emerging App Partner of the Year,[11]
* Listed as a 2020 top accounting app by Accounting Today.[12]

## 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" (in en-US). https://social.techcrunch.com/2017/03/08/align-commerce-veem-24-million/.
2. ↑ "Podcast 253: Marwan Forzley of Veem" (in en-US). 2020-06-26. https://www.lendacademy.com/podcast-253-marwan-forzley-of-veem/.
3. ↑ "LFP161 – Global B2B Payments & Multi-Rail Technology w/Marwan Forzley CEO Veem". https://londonfintechpodcast.com/lfp161-global-b2b-payments-multi-rail-technology-w-marwan-forzley-ceo-veem/.
4. ↑ Levy, Ari (2018-02-18). "There's a lot of blockchain hype, but money-transfer start-up Veem is using it today" (in en). https://www.cnbc.com/2018/02/18/veem-start-up-uses-blockchain.html.
5. ↑ "Staying true to Ottawa roots, San Francisco's Veem brings money transfer solution to Canada" (in en). https://obj.ca/techopia-ottawa-veem-san-francisco-fintech-money-transfer.
6. ↑ "Veem opens up global payments platform to developers with new API" (in en-US). https://social.techcrunch.com/2017/11/28/veem-opens-up-global-payments-platform-to-developers-with-new-api/.
7. ↑ "How 'Embedded' Payment Providers are Transforming Fintech" (in en). 31 January 2020. https://www.financemagnates.com/fintech/news/how-embedded-payment-providers-are-transforming-fintech/.
8. ↑ "Payments Industry News & Analysis" (in en). https://www.americanbanker.com/payments.
9. ↑ Sharf, Samantha. "Forbes Fintech 50 2018: The Newcomers" (in en). https://www.forbes.com/sites/samanthasharf/2018/02/13/forbes-fintech-50-2018-the-newcomers/.
10. ↑ "App Showdown Finalist Profile – Veem: A Modern Solution for Wire Payments" (in en-US). 2018-01-23. https://quickbooks.intuit.com/blog/news/app-showdown-finalist-profile-veem-modern-solution-wire-payments/.
11. ↑ "Veem Wins Emerging App Partner of the Year in Xero Awards Americas" (in en-US). January 26, 2018. http://insidepublicaccounting.com/2018/01/veem-wins-emerging-app-partner-of-the-year-in-xero-awards-americas/.
12. ↑ "Expert's choice: Top accounting apps" (in en). 2020-10-01. https://www.accountingtoday.com/list/experts-choice-top-accounting-apps.
13. ↑ "Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs" (in en-US). https://social.techcrunch.com/2017/03/08/align-commerce-veem-24-million/.

## External links

* Official website

* v
* t
* e

Payment service providers

Active|

* Adyen
* Airtel Payments Bank
* Amazon Pay
* Ant Financial
* Apple
* Apple Card
* Apple Pay
* Cash
* Apple Wallet
* Atom
* BillDesk
* Chase Paymentech
* WePay
* CNG Processing A/S
* Dwolla
* Freecharge
* Ingenico
* Klarna
* Mi-Pay
* MobiKwik
* Oxigen Services
* Passport
* Paymentwall
* Payoneer
* PayPal
* Braintree
* Venmo
* Xoom
* PayPoint
* Paysafe Group
* Neteller
* Skrill
* Paytm
* PayU
* Payzone
* PhonePe
* POLi Payments
* Qiwi
* Red Dot Payment
* Sage Pay
* Sezzle
* Square
* Stripe
* Tencent
* Verifone
* VersaPay
* Veem
* WebMoney
* Wirecard
* Worldpay, Inc.
* Yandex.Money

Defunct|

* Billpoint
* C2it
* Clinkle
* PayDirect
* Tez

* Category
* List

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