Veem, formerly Align Commerce, is a San Francisco-based online

global payments Global Payments Inc. is an American multinational financial technology company that provides Financial transaction, payment technology and services to merchants, issuers and consumers. In June 2021, the company was named to the Fortune 500. The c ...

platform founded in 2014 by Marwan Forzley and Aldo Carrascoso. The company uses a payment routing method they refer to as "multi-rail technology," where transactions are routed through different methods, or "rails", such as credit cards, checks, or cryptocurrency.

History

Veem was founded by Marwan Forzley and Aldo Carrascoso in 2014 as Align Commerce. Forzley and Carrascoso came up with the concept to make cross-border payments, "as easy as purchasing a cup of coffee." Veem is integrated with

QuickBooks QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1983, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as c ...

, Xero, NetSuite, Plaid,

Zapier Zapier is a product that allows end users to integrate the web applications they use and automate workflows. The company is fully remote. As of 2021, it connects to more than 4,000 apps, with free and paid plans. Overview Zapier provides workflo ...

and Q2 banking platform. In April 2020, Veem acted as a front-end component to the

Small Business Administration The United States Small Business Administration (SBA) is an independent agency of the United States government that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and stre ...

Paycheck Protection Program The Paycheck Protection Program (PPP) is a $953-billion business loan program established by the United States federal government during the Donald Trump administration in 2020 through the Coronavirus Aid, Relief, and Economic Security Act (CARE ...

to facilitate loans and customer support to small businesses as a result of the

COVID-19 pandemic The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identi ...

Recognition

* Veem was listed in the 2018 Forbes Fintech 50. * Veem was recognized as Quickbooks 2017 Top 10 App of the Year, * Xero's 2018 Emerging App Partner of the Year, * Listed as a 2020 top accounting app by

Accounting Today ''Accounting Today'' is a trade magazine servicing the public accounting profession in the United States. Started in 1987, it grew to a circulation of more than 30,000. The parent company of ''Accounting Today'' is SourceMedia. With over 400 empl ...

Investors

Veem's investors include National Australia Bank (NAB) Ventures, GV (Google Ventures), Goldman Sachs, Softbank's SBI Investment Co., Ltd.,

Kleiner Perkins Caufield Byers Kleiner Perkins, formerly Kleiner Perkins Caufield & Byers (KPCB), is an American venture capital firm which specializes in investing in incubation, early stage and growth companies. Since its founding in 1972, the firm has backed entrepreneurs ...

Silicon Valley Bank Silicon Valley Bank is an American commercial bank. SVB is on the list of largest banks in the United States, and is the biggest bank in Silicon Valley based on local deposits. It is a subsidiary of SVB Financial Group. History Silicon Valley Ba ...

, Truist Ventures, MUFG Innovation Partners, AB Ventures, Paper Excellence, Myer Family Investments, Trend Forward Capital, and EPAY.

References

External links

Official website
{{Payment service providers American companies established in 2014 Payment service providers Companies based in San Francisco 2014 establishments in California