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Veem Stock
Payment Service Provider (PSP)
About Veem Stock
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.
Investors
Alumni Ventures Group
Getaround, Better.com, Accolade, Deserve, Upstart, Trifacta, CommonBond, Emulate, Veem, Freshly
Goldman Sachs Principal Strategic Investments
GV
Uber, Robinhood, Jet, Impossible Foods, Slack, DocuSign, Cloudera, 23andMe, Recorded Future, Carbon
Strawberry Creek Ventures
Total Access Fund
Upstart, Veem, Freshly, SMART WIRES, Humatics, Tempo Automation, GrubMarket, Burrow, EverQuote, what3words
Trend Forward Capital
Funding History
| July 2015 | $7.4M |
|---|---|
| July 2015 | $6.0M |
| December 2016 | $19.5M |
| December 2016 | $2.0M |
| July 2017 | $4.0M |
| August 2018 | $18.0M |
| August 2018 | $7.0M |
| July 2020 | $444K |
| July 2020 | $45.1M |
Management
Chief Executive Officer
Marwan Forzley
Chief Technology Officer
Jonas Edgeworth
Press
businessinsider - Sep, 16 2020
finledger - Sep, 16 2020
PYMNTS - Nov, 24 2019
pymnts - Feb, 20 2019
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