COMPANY PROFILE

Veem

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A payment service provider that helps to simplify the way businesses send and receive funds

San Francisco, United StatesFounded 2014Fintech

Valuation $100–250M Last recorded · 2020

Revenue $10–50M Latest reported FY

Headcount 100–500 Current team size

Total funding $50–100M Disclosed equity funding

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About Veem

Veem is a financial technology startup that aims to revolutionize the way businesses handle global payments. The company offers a simple, secure, and transparent platform for sending and receiving money internationally. Veem primarily serves small to medium-sized businesses (SMBs) that need to make cross-border payments. These businesses often face challenges with traditional banking systems, such as high fees, slow transaction times, and lack of transparency. Veem addresses these issues by providing a more efficient and cost-effective solution.

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Operating in the global payments market, Veem leverages blockchain technology to streamline transactions. Blockchain is a type of digital ledger that records transactions across many computers so that the record cannot be altered retroactively. This technology helps Veem ensure that payments are secure and transparent. The company also integrates with various accounting software and financial tools, making it easier for businesses to manage their finances.

Veem's business model is based on transaction fees. While traditional banks often charge high fees for international transfers, Veem offers competitive rates, making it an attractive option for SMBs. The company also earns revenue through partnerships with financial institutions and other service providers.

Veem's leadership team comprises experienced entrepreneurs and industry experts who bring diverse international backgrounds to the table. Supported by a global network of forward-thinking banks and major venture capital firms, Veem is well-positioned to continue its mission of improving global commerce.

In summary, Veem is changing the way businesses pay and get paid around the world by offering a simple, secure, and transparent global payment method. The company focuses on small to medium-sized businesses, operates in the global payments market, and makes money through transaction fees and partnerships.

Source: Dealroom company data