Veem is a payment service provider that enables businesses to send and receive funds globally in over 100 countries using email addresses, facilitating real-time transactions without fees. The platform streamlines accounts payable and receivable processes through features like multi-currency invoicing, batch payments, and instant deposits, improving cash flow and reducing transaction costs.
Funding
$31M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TFounders
Product
Problem
Traditional cross-border payment methods often involve high transaction fees, fluctuating exchange rates, and lengthy processing times, creating inefficiencies for businesses engaged in international trade. These complexities can strain cash flow and increase operational costs, particularly for small and medium-sized enterprises (SMEs).
Solution
Veem provides a global payment platform designed to streamline international transactions for businesses, enabling them to send and receive funds in over 100 countries. The platform facilitates payments using email addresses, eliminating the need for complex banking details and reducing transaction friction. Veem offers features such as multi-currency invoicing, which allows businesses to bill clients in their local currency, and batch payment capabilities for efficient mass payouts. By providing competitive FX rates and real-time payment tracking, Veem aims to improve cash flow management and reduce the overall cost of international financial operations. The platform also offers a Veem Wallet, allowing users to hold USD balances and make instant payments without fees.
Target Audience
The primary target audience includes small and medium-sized enterprises (SMEs) engaged in international trade, freelancers, and businesses that require efficient and cost-effective solutions for sending and receiving cross-border payments.
Features
- Global payments to over 100 countries using email addresses
- Multi-currency invoicing to bill clients in their local currency
- Batch payment processing for efficient mass payouts
- Real-time payment tracking and notifications
- Competitive foreign exchange rates
- Veem Wallet for holding USD balances and instant payments
- Integration with accounting software for automated reconciliation
- PCI-DSS compliant and SOC 2 certified for secure transactions