Veem in the News
“Veem is a startup trying to simplify all of that for SMBs by providing a platform to ease the international transfer of funds between businesses.”
— TechCrunch
Impact of U.S-China tariffs on business owners
Highlight: “There’s a lot of indications coming up that businesses … are worried big time about the tariffs,” Veem’s CEO Marwan Forzley says. “They’re not really sure what to do with all of this. Do they pass it to the consumer? Do they take a hit and it affects their margin…?”
Global issues not deterring small business expansion
Tariffs, a weakening world economy, and threats to globalization have cast a gloom over the state of global business. On the bright side, small businesses are providing a refreshingly positive outlook. This is because small businesses aren’t letting volatile foreign policy issues deter them from seizing opportunities to expand.
4 major pain points when taking your ecommerce business global
Finding reliable international suppliers and establishing effective ways to pay them are two of the potentially onerous tasks facing an online business expanding internationally, along with dealing with tariffs are cybersecurity. Here are ways to address these four pain points. Finding reliable international suppliers and establishing effective ways to pay them are two of the potentially onerous tasks facing an online business expanding internationally, along with dealing with tariffs are cybersecurity. Here are ways to address these four pain points.
How one Trump tweet could disrupt the U.S.-China payments corridor
It’s unclear whether the Trump administration can or will declare a national emergency as part of the trade dispute between the U.S. and China, but the discourse alone could disrupt major business relationships that involve American retailers, payment companies and Chinese firms.
U.S. industry insider says small business to suffer most from additional tariffs
Marwan Forzley, CEO of Veem, a global payments company for small businesses, told Xinhua Wednesday that the tariff increase is a critical moment for small businesses.
Trump’s new tariffs throw cold water on hopes for China deal, raise worries over US economy
WASHINGTON – News of a fresh round of 10 per cent tariffs effective Sept 1 on an additional US$300 billion (S$413 billion) worth of Chinese imports to the United States, has thrown more cold water on already low expectations of any deal with China on trade and market access.
Global Small Business Report Shows Strong Desire to Expand
A report by Veem found that small businesses around the world are feeling optimistic about the future A report by Veem highlighting small business
News Analysis: U.S. government pressures on pending Libra to mount: analysts
HOUSTON, July 18 (Xinhua) — U.S. Representatives on Wednesday contested the testimony of executives from social media giant Facebook regarding plans to launch a digital currency called Libra, with one Congresswoman telling the Silicon Valley software company that managing currency is a core government function, not a commercial one.
The future of business payments
As our world continues to become smaller and more connected — and new markets continue to emerge — we need to set up businesses for success and help make transacting anywhere in the world as easy as splitting the dinner bill by using your phone.
Trump plows into Libra debate as politicians face crypto learning curve
As Congress and the SEC were taking steps to regulate alternative currencies, they required a deep knowledge of the cryptocurrency market and technologies. For those who put off their crypto education, Facebook’s Libra is a wake-up
No One Wins a Trade War
Tired of reading about more tariffs? You’re not alone. On May 10, 2019 tariffs increased to 25% up from 10% on $200 billion worth of Chinese imports after In a trade war, nobody wins. Here’s why.
5 Ways Good Payments Can Save Your Business
Money is the lifeblood of every business. One late payment can mean ruining a partnership, losing customers, or worse. Cash Flow
Veem CEO Marwan Forzley Interviewed by Aaron Heslehurst of the BBC
The consumer is going to end up paying for all this. Increased tariffs are like a new tax that they may not be able to absorb at all.
Startups target banks’ small business customers in forex payments drive
LONDON (Reuters) – Revolut and TransferWise are signing up thousands of small businesses a month for foreign exchange payments, touting slicker service and lower fees as they try to take on banks in a sector with flows of $7 trillion (5 trillion pounds) a year.
Trump presses advantage in bold gambit in US-China trade talks
WASHINGTON – US-China trade talks wound up on Friday (May 10) morning in Washington cordially, with no talk of collapse. But that could merely be putting a brave face on something like a collapse – though the outcome was not unexpected given President Donald Trump’s assertion that China had reneged on what it had agreed on previously.
Crypto Isn’t Disrupting Payments Yet But Stay Tuned, Ellis Says
“Why would I ever buy coffee with bitcoin?” MoffettNathanson analyst Lisa Ellis said.
“As ludicrous as it may sound,” the existential threat of cryptocurrency as a globally accepted, unbranded payment system that upends incumbents like Visa Inc., Mastercard Inc., and PayPal Holdings Inc. is worth watching but is unlikely to occur soon, Ellis wrote in a note to clients.
CNBC unveils its annual list of 100 promising start-ups to watch
The Upstart 100 is CNBC’s exclusive list of promising young start-ups, featuring a diverse group of companies that are building brands and breaking industry barriers on the path to becoming tomorrow’s household names. Selected from more than 500 nominees, each one was scored on eight equally weighted quantitative metrics (read more about our methodology here).
Google And Goldman Back Bitcoin Startup For Small Businesses
Marwan Forzely has come a long way since his days at Western Union. The serial entrepreneur, who sold his previous company to Western Union to help the money-transfer giant directly connect to customer bank accounts, has raised $25 million to cut intermediary banks out of the payment process altogether.
Veem Reveals First Firms To Use Its API
B2B payments platform Veem is expanding as third parties integrate its capabilities via application programming interface (API). This week, the company has announced the first partners to do so.
Reports in Bankless Times on Thursday (Feb. 22) said Veem is working with logistics company Cargocentric, virtual staffing tool EliteWork, accounting company HireAthena and virtual reality company SpringboardVR, which have integrated Veem’s B2B payments capabilities via its APIs.
Veem announces initial API partners
B2B payment platform Veem today announced the first group of partners who have integrated its global payment capabilities into their offerings.
“We knew our API would be useful for companies of all kinds in need of global payment capabilities but even we were surprised to see the variety of companies that found Veem and started to build using our API.” said Cheung Tam, vice president of API product at Veem. “We’re just a couple of months post-launch and the success we’ve seen has been inspiring.”
There’s a lot of blockchain hype, but money-transfer start-up Veem is using it today
For all the talk in Silicon Valley about the potential of blockchain technology, most of it is just that — talk.
[…]
One exception is a San Francisco-based money transfer business called Veem. Founded in 2014 by Marwan Forzley, who sold his previous start-up to Western Union, Veem is setting out to simplify cross-border wire transfers and payments to vendors and contractors.
Xero Americas names winners of 2017 partner awards
Every year, accounting software provider Xero recognizes partners—both firms and software providers—that have demonstrated excellence in different areas. Here are this year’s winners:
[…]
Emerging App Partner of the Year
Presented to an emerging app partner who demonstrates a high level of customer satisfaction and commercial success, this award showcases excellence in areas such as customer care, design quality, functionality and technical innovation. This year’s award went to Veem.
Veem opens up global payments platform to developers with new API
If you’ve ever tried to do business across borders, you know how painful it can be to send a wire transfer, wait for the payment to clear the bank and pay a set of fees along the way. Veem is a startup trying to simplify all of that for SMBs by providing a platform to ease the international transfer of funds between businesses. Today, it announced it was opening up that capability to developers in the form of an API.
Daily API RoundUp: DBS Bank, AWS, Veem
Veem is a business-to-business payments platform that leverages multi-rail and Blockchain technology for transferring money in an easy and secure way between 60 countries. The Veem API is designed for businesses that send and receive international and domestic payments. The primary use case of the Veem API is sending money to vendors/suppliers.
Veem launches API payments platform
Blockchain-based payments platform Veem today announced the launch of its API.
It is designed for the unique needs of businesses that send and receive international payments. By leveraging multi-rail℠ technology, including blockchain, Veem has built a platform that transfers money in the easiest and most secure way between 60 countries.
Blockchain Startup Veem Integrates with QuickBooks for International Payments
QuickBooks users will now be able to send international payments over a blockchain enabled by payments firm Veem as an alternative to international wire transfers.
In an announcement, blockchain cross-border payments platform Veem revealed the new integration which will see users sync vendor bills from QuicBooks to Veem to facilitate significantly faster and cheaper international payments across multiple currencies.
QuickBooks Adds Veem’s Global Payment Capabilities
Veem, the B2B payments company formerly known as Align Commerce, is partnering with QuickBooks as the accounting software company looks to integrate payment capabilities for its SME users.
Reports Thursday (July 6) said Veem is integrating its cross-border wire payment capabilities into QuickBooks so SMEs can pay supplier invoices from within the
Blockchain Payments Startup Veem Integrates with Intuit QuickBooks
Intuit QuickBooks customers can now send international payments via blockchain payment provider Veem as an alternative to traditional wire transfers.
Announced yesterday at Money2020 Europe, the integration is aimed at helping accounting professionals streamline operations, while reducing fees. Veem claims users of the service will now be able to obtain such services at a reduced cost, as opposed to paying $40–$50 through alternative payments providers.
Veem, formerly Align Commerce, gets $24M from GV, others for its Venmo for SMBs
Remittances — the business of money transfers — is a fragmented and huge market, currently estimated to be worth some $25 trillion annually. Now, one of the more interesting startups in the field — which combines “alternative” financial rails like the blockchain with more traditional bank rails to provide faster and cheaper remittance services for small and medium businesses (think Venmo for SMBs) — has raised a new round of funding and is rebranding as it gears up to claim a bigger stake in the field.
NAB Ventures leads US$24 million Series B round for US forex startup Veem
National Australia Bank has led a US$24 million Series B round (approximately $31 million) in San Francisco-based foreign exchange payments company Veem through its VC fund, NAB Ventures.
With participation from investors including Silicon Valley Bank and Kleiner Perkins Caufield & Byers, the deal is the third for the fund, which also counts Data Republic and Medipass Solutions in its portfolio. Melissa Widner, general partner at NAB Ventures, will be joining the Veem board.
NAB Ventures leads US$24 million Series B round for US forex startup Veem
NAB Ventures, the National Australia Bank’s fund, has led an investment round in San Francisco-based foreign exchange payments company Veem.
Veem leverages blockchain technology to allow organisations to send and receive payments in local currency.
Veem raises $24 million to simplify global payments
Veem announced today that it has closed a $24 million funding round. The startup offers small and medium-sized businesses (SMBs) around the world an easy solution for sending and receiving money. More than 95 percent of all businesses across the world — some 20 million — are SMBs, which represents an enormous potential market.
Align Commerce Raises $24 Million Series B to Simplify Global Payments for Small Businesses; Rebrands as Veem
Align Commerce, the company that makes global payments simple for small businesses, today announced it has closed a $24 million Series B funding round and renamed the company to Veem. The investment, led by National Australia Bank (NAB) Ventures, includes GV (formerly Google Ventures) and SBI Investment Co., Ltd. and will help Veem expand into more countries, enable payments in additional currencies, and continue to transform the global payment process for SMBs. Melissa Widner, general partner, NAB Ventures, will also join Veem’s board. Existing investors Kleiner Perkins Caufield Byers and Silicon Valley Bank also participated in the Series B round. Rebranding to Veem supports the company’s commitment to modernizing the way small businesses send and receive payments.
New Name, New Funding For SME Payments Firm Align Commerce
Cross-border trade is far from simple, and for many SMEs, that complexity is crippling. Research from HSBC released late last year found that among all of the challenges small businesses face when looking to work with suppliers across borders, an overall lack of global business knowledge and experience is what’s truly holding these entrepreneurs back from a global stage.
Align Commerce Raises $24 Million Series B to Simplify Global Payments for Small Businesses; Rebrands as Veem
Using blockchain and other network technologies, the former Align Commerce is focusing on payment services for small and mid-sized businesses.
Veem, a provider of online payment services known until today as Align Commerce, is out to make international payments easier for small and mid-size companies. Several investment firms are backing its strategy with $24 million in funding, Veem said today.
Online payments company Veem gets $24 million
Align Commerce, the company that makes global payments simple for small businesses, today announced it has closed a $24 million Series B funding round and renamed the company to Veem. The investment, led by National Australia Bank (NAB) Ventures, includes GV (formerly Google Ventures) and SBI Investment Co., Ltd. and will help Veem expand into more countries, enable payments in additional currencies, and continue to transform the global payment process for SMBs. Melissa Widner, general partner, NAB Ventures, will also join Veem’s board. Existing investors Kleiner Perkins Caufield Byers and Silicon Valley Bank also participated in the Series B round. Rebranding to Veem supports the company’s commitment to modernizing the way small businesses send and receive payments.
Bitcoin Startup Align Raises $24 Million, Rebrands as Veem
The company formally known as Align Commerce has raised $24m as part of its plan to simplify global fiat currency payments using the bitcoin blockchain.
Now rebranded as Veem, the company that aims to make bank wire transfers extinct, will first use the new funds to usher in two-way transactions in all of the countries it already does business with.
Off The Rails: Can Regulation Help Blockchain Deliver Faster X-Border Payments?
Can the blockchain help SMBs optimize their cross-border trading opportunities? Align Commerce CEO Marwan Forzley says so and gives PYMNTS his view on how the blockchain offers SMBs a lot more bang for a lot fewer bucks when doing business across borders. You can find that interview, as well as all of the latest developments in cross-border payments trends and tech, in January’s X-Border Payments Tracker
Align Commerce rolls out new website and product features
Align Commerce, a global payments provider, has released its new website along with the Mass Upload product feature.
Align Commerce’s new site shows small and medium sized businesses how to optimize their instigation of wire transfers by making the experience simpler. By providing just a few pieces of information – like name and email address, customers can send or receive payments straight from their bank account to over 60 countries around the world without a trip to the bank or complex paperwork.
Kleiner-backed startup offers small businesses’ global payments cheaper than banks
San Francisco-based Align Commerce is drawing top talent and venture capitalists as the startup offers small businesses an easier, cheaper way to make international payments.
Is Blockchain a Better Payments Rail? Panelists Divided at Consensus 2016
Distributed ledgers are often referred to as a new database technology, but could they come to replace existing payments rails?
The subject was the center of discussion among Julio Faura of Spanish megabank Santander; Marwan Forzley of blockchain payments startup Align Commerce; Gys Gyman of global consultancy Deloitte; Chris Larsen of distributed ledger leader Ripple; and Elizabeth Rossiello of bitcoin payments startup BitPesa today, the group representing a mix of financial incumbents and startups.
Thinking Globally, Acting Locally For Cross-Border Payments
Align Commerce’s recent entrance into Brazil just ahead of the 2016 Summer Olympics in Rio is no coincidence. The company, which uses a hybrid of blockchain technology and other payment rail infrastructure to enable cross-border payments, said it will look to capitalize on the demand spike for global payment services during the Olympic games, where hundreds of thousands of people will flock from all over the globe.
The Many Rails Of China’s X-Border Payments Journey
China’s economy is in flux, and the headlines lately haven’t been good: The value of the yuan has dropped, late B2B payments are becoming an increasing problem in the market and some analysts doubt whether the government-backed China International Payments System — a venture aimed at launching the yuan into the global market — can actually succeed.
Align Commerce, a San Francisco, Calif.-based cross-border payments service provider, has established a “China corridor” to allow businesses to easily send and receive payments to and from Asia’s largest economy.
With the value of bilateral trade between the U.S. and China surpassing $555 billion in recent years, businesses in both countries will now reap the benefits of Align Commerce’s multi-rail technology that combines the blockchain with traditional payments, real-time payment tracking and easy invoicing.
Align Commerce Boards Payment Rail To China
Just in time to celebrate the Chinese Lunar New Year, global payments provider Align Commerce announced Monday (Feb. 8) the establishment of its China corridor to enable SMBs to both send and receive payments to and from the largest Asian economy.
The firm is offering an “$8 for Eight Days” promotion, where for an eight-day period B2B payments to and from China will only cost a flat fee of $8 (including foreign exchange fees), for all export-import payments to China from the U.S.
Align Commerce Announces Establishment of Payment Rail to China
Align Commerce, a next-generation global payments provider serving the small- and medium-sized business (SMB) community, today announced the establishment of its China corridor to allow businesses to easily send and receive payments to and from Asia’s largest economy. With the value of bilateral trade between the U.S. and China surpassing $555 billion in recent years, businesses in both countries will now reap the benefits of Align Commerce’s revolutionary multi-rail technology that combines the blockchain with traditional payments, simple invoicing and real-time payments tracking.
Kleiner Perkins Makes First Bitcoin Startup Investment With B2B Payments Provider Align Commerce
Bitcoin startups have been one of the fastest-growing areas for venture capital this year. By July, according to CB Insights, they had attracted $375.4 million in investment in the first six months of this year, up from $339.4 million in 2014.
Kleiner Perkins Makes First Bitcoin-Related Deal With Align Commerce
Align Commerce Corp.’s use of bitcoin is invisible and almost irrelevant to its business customers. And that’s how the startup wants to keep it.
The San Francisco company, which is announcing today that it has raised a $12.5 million Series A round led by Kleiner Perkins Caufield & Byers, is one of an emerging class of bitcoin-based companies that rely on the digital currency behind the scenes. It’s being used as a tool to provide an improved financial service–in Align’s case that’s cross-border payments for small businesses.
Data Security Is Becoming the Sparkle in Bitcoin
Some couples opt for a traditional wedding, while others go for the Elvis impersonator in Las Vegas. But David Mondrus and Joyce Bayo may be the first to have incorporated Bitcoin.
The ‘internet weirdos’ of bitcoin are changing the way money works
There’s no reason to mourn the fall of bitcoin prices. Anyone who is crying over bitcoin’s recent face-plant – losing one-third of its value in two days – must be a speculator. Gambling is gambling – sorry, pal. If you’re celebrating the price drop because of schadenfreude, or just straight-up skepticism about the cryptocurrency itself, you’re missing the point, too.
