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Veem Stock (VEEM)
Payment Service Provider (PSP)
Veem is a next-generation payment service provider (PSP) for global commerce. Veem provides a platform that enables small businesses to send and receive payments in local currency. Veem claims that its use of blockchain as a payment rail eliminates the need for intermediary banks and reduces costs for small- and medium-sized businesses. It converts the sender’s funds into bitcoin, selling the digital currency at an exchange for the desired currency of the recipient. Veem was founded in 2014 and is based in San Francisco, California in Ottawa, and Shanghai. Veem is backed by investors including GV, Goldman Sachs, and Pantera Capital.
About Veem Stock
Founded
2014
Headquarters
San Francisco, CA, US
Total Funding
116M
Industries
Software, Financial Services, Payments
Veem is a payment service provider (PSP) for global commerce. Veem claims its platform enables small businesses to send and receive payments in local currency. Veem claims to use blockchain technology as a payment rail. Veem claims this technology eliminates the need for intermediary banks and reduces costs for customers.
Veem was founded in 2014 and is based in San Francisco, California, Ottawa, and Shanghai. Notable investors include GV, Goldman Sachs, and Pantera Capital.
Veem Press Mentions
Stay in the know about the latest news on Veem
JazzCash & Veem Join Hands To Streamline Global Payments
techjuice • Jun 19, 2025
Veem and LianLian Global Partner to Deliver Seamless Cross-Border Payment Solutions
newswire • Apr 24, 2025
HII Recognizes Australian Firms at Sea Air Space 2025, Advancing AUKUS Industrial Integration and Submarine Supply Chain Access
globenewswire • Apr 10, 2025
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thepaypers • Apr 01, 2025
Veem and Crown Agents Bank Collaborate to Enhance Global Payment Solutions for Businesses
newswire • Jun 04, 2024
Investors in Veem
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Veem Management
Leadership team at Veem
Chief Executive Officer
Marwan Forzley
Chief Financial Officer
Pramod Iyengar
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Veem Key Facts
• Veem has formed strategic partnerships with various financial institutions and payment providers to enhance its service offerings and expand its global reach. For instance, partnerships with local payment processors in key markets have allowed Veem to offer localized payment options, further improving customer satisfaction and retention.
• Veem leverages blockchain technology to facilitate cross-border transactions, ensuring security and transparency. Per the company's main site, this technology backbone empowers Veem to scale efficiently and handle increasing transaction volumes without compromising on service quality.
• Veem caters specifically to SMEs, which often struggle with the high costs and administrative burdens of international payments. By offering a user-friendly interface and competitive exchange rates, Veem has successfully attracted a large customer base among SMEs globally.
• As a fintech company facilitating cross-border payments, Veem faces regulatory scrutiny and compliance costs in multiple jurisdictions. Changes in regulatory requirements or compliance failures could result in fines, increased operational costs, or even restrictions on its services.
• Despite targeting SMEs globally, Veem may have a concentration of revenue from a small number of large customers or industries. If key customers reduce their usage or switch to competitors due to dissatisfaction or better offerings elsewhere, Veem could experience revenue declines and increased churn.
• Veem operates in a highly competitive market with established players like PayPal, TransferWise (now Wise), and traditional banks offering similar international payment solutions. These competitors may undercut Veem on pricing or offer more extensive service packages, potentially squeezing Veem's margins.
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