Veem Competitive Intelligence & Landscape

Veem (veem.com) is a global payment solution that redefines how small and medium-sized businesses (SMBs) manage their domestic and international payments. Founded in 2014 by co-founder and CEO Marwan Forzley, Veem's mission is to provide SMBs with access to enterprise-grade payment technology through an easy-to-use platform, thereby leveling the playing field in global finance [https://www.veem.com/about-us/]. With over 1.5 million users globally [https://veem.com/], Veem allows businesses to send and receive payments in over 100 countries and 80+ currencies [https://veem.com/].

Veem's core services simplify both payables and receivables. Businesses can use Veem to pay vendors, suppliers, partners, and even entire teams of contractors [https://help.veem.com/hc/en-us/articles/360033852273-what-can-i-use-veem-for-]. Key features include payment scheduling, automated recurring payments, and comprehensive payment tracking with detailed timestamps on all transactions [https://veem.com/].

Veem also offers different account types, including Business, Individual, and Personal, catering to various client needs [https://help.veem.com/hc/en-us/articles/4416494707987-setting-up-a-veem-account-faq].

Security and compliance are paramount at Veem. The company requires business information such as name, address, industry, and Tax Identification Number (TIN) to comply with federal and state regulations, ensuring the highest level of security for customer accounts and payments [https://help.veem.com/hc/en-us/articles/360039352834-why-does-veem-need-my-business-information-].

Veem employs robust account protection practices, including brute force prevention, strong password complexity requirements, and two-factor authentication, along with encryption to safeguard financial data [https://www.veem.com/trust-and-security/].

The company's vision is to foster a simple, secure, and fair financial world where businesses of all sizes have equal opportunities, achieved through cutting-edge technology and a dedicated team [https://www.veem.com/careers/]. Headquartered in San Francisco, California, Veem is recognized for its relationship-based payment model, trusted by over 150,000 businesses worldwide for saving valuable time in financial operations [https://www.veem.com/veem-in-the-news/].

Veem offers a streamlined approach to global payments, providing two main plans: Veem Basics (Free) and Premium. The Veem Basics plan allows users to send, schedule, and request payments, upload invoices, and track transactions with detailed timestamps [https://www.veem.com/pricing/]. Both plans aim to simplify domestic and international payments across 100+ countries and 70+ currencies, enabling businesses to pay suppliers and contractors efficiently [https://www.veem.com/pay/].

Veem distinguishes itself from traditional banks by utilizing more efficient "payment rails" to avoid intermediary bank fees and delays associated with international wire transfers [https://www.veem.com/faq/].

Recent pricing changes at Veem include an update effective January 1, 2025, where a monthly platform fee of $24.99 USD ($34.99 CAD for Canadian clients) will be introduced for the Premium plan [https://help.veem.com/veem-platform-pricing-update]. Prior to this, the Premium plan already cost $24.99 USD ($34.99 CAD) [https://help.veem.com/hc/en-us/articles/11281951927059-how-to-update-the-veem-platform-plan]. Additionally, as of January 8, 2025, users on the Basic plan can send regular domestic bank transfers (ACH/EFT) for a flat fee of $1 USD ($1.49 CAD) per transfer [https://help.veem.com/introducing-regular-bank-transfer-ach/eft-for-basic]. This change aims to further streamline costs for Basic plan users.

While the Basic plan is free, specific payment methods incur fees. For example, sending payments can cost $0-$1 USD ($1.50 CAD), with timelines varying from 3-4 business days for some methods [https://help.veem.com/hc/en-us/articles/360033371254-veem-fees-and-timelines]. Domestic bank wires can cost between $25 and $35, excluding potential recipient bank fees [https://www.veem.com/how-to-send-receive-request-money/].

Veem also offers features like Instant Deposit for quicker payment reception for users on the Premium plan [https://www.veem.com/pricing/] and Mass Pay for sending over 10,000 contractor and vendor payments at once without additional cost [https://www.veem.com/mass-pay/]. Users can conveniently update their Veem Platform Plan directly from their account, with the option to switch plans twice [https://help.veem.com/hc/en-us/articles/11281951927059-how-to-update-the-veem-platform-plan].

Veem, a fintech company focused on global payments, is actively hiring, signaling a strong growth trajectory and an emphasis on expanding its core offerings [https://www.veem.com/careers/]. The company's vision centers on creating a "simple, secure, and fair finance world" for businesses of all sizes, and they view cutting-edge technology and a dedicated team as essential to achieving this goal [https://www.veem.com/careers/]. This commitment to innovation and team expansion suggests a strategic focus on enhancing their payment platform and increasing their market presence in the competitive global finance landscape. Their career page explicitly invites individuals to "Launch your career in fintech" and explore current openings [https://www.veem.com/careers/].

Veem consistently lists current job openings on its dedicated careers page [https://www.veem.com/careers/openings/]. While specific numbers or types of roles are not detailed without direct access to the live job board, the presence of an active "Current Job Openings" section implies ongoing recruitment efforts. This continuous hiring aligns with Veem's mission to reinvent and redefine global payments for small businesses, a mission initiated by co-founder and CEO Marwan Forzley in 2014 [https://www.veem.com/about-us/]. The company's focus on an "easy-to-use platform" for enterprise-grade payment technology for small businesses suggests a need for talent across various departments, likely including engineering, product development, sales, and customer support.

The hiring patterns at Veem underscore its strategic push to solidify its position as a leading global payment solution. With a reach of 100+ countries and 80+ currencies, serving over 1.5 million users, Veem is actively simplifying payables and receivables for businesses worldwide [https://www.veem.com/]. This expansion into global markets and emphasis on flexible payment options, including solutions for freelance marketplaces and digital contractor payments, indicates a need for skilled professionals to support these services [https://www.veem.com/partnerships/freelance-marketplaces/, https://www.veem.com/newsroom/shepherd-announces-technology-partnership-with-veem-for-digital-contractor-payments/]. There is no public information or search results to suggest any significant layoffs at Veem; rather, the consistent promotion of career opportunities points towards a period of sustained growth and investment in human capital to drive their ambitious fintech vision forward [https://www.veem.com/careers/].

Veem, founded in 2014 by CEO Marwan Forzley, is a global payments network designed to simplify domestic and international payments for businesses [veem.com/about-us/]. The company positions itself as a comprehensive solution for payables and receivables, supporting transactions in over 100 countries and 80+ currencies for more than 1.5 million users [veem.com/]. While specific annual revenue figures are not publicly disclosed, Veem generates revenue through various fees, including cross-border transaction fees, local United States and Canada transaction fees, and platform pricing [help.veem.com/hc/en-us/articles/360033371254-veem-fees-and-timelines]. As of January 1, 2025, Veem will also implement a monthly platform fee of $24.99 USD ($34.99 CAD for Canadian clients) to support ongoing investment in enhancing its payment services [help.veem.com/veem-platform-pricing-update].

Veem has successfully secured significant funding rounds to fuel its growth and expand its global small business payments network. In September 2018, the company completed a $25 million strategic financing round led by Goldman Sachs, with participation from existing and new investors [veem.com/newsroom/press-release/veem-secures-25-million-to-expand-global-small-business-payments-network/]. This was followed by another substantial capital raise in September 2020, where Veem secured $31 million in a strategic funding round. This round was led by Truist Ventures, the corporate venture capital division of Truist Financial Corporation, the sixth-largest commercial bank in the U.S. [veem.com/newsroom/veem-secures-31m-in-strategic-funding-round/]. These investments highlight investor confidence in Veem's business model and its potential in the global payments sector.

While details on specific M&A activities by Veem are not readily available in the provided sources, the company's financial health is bolstered by its continuous funding rounds and its strategic focus on the small and medium-sized business (SMB) market.

Veem offers various funding methods for its clients, including bank accounts, debit cards, credit cards, and its own Veem wallet for sending payments, and similar options for receiving payments [help.veem.com/hc/en-us/articles/4416497128083-available-funding-methods]. The company is registered with the Financial Crimes Enforcement Network (FinCEN) under MSB Registration No. 31000107181752, ensuring compliance as a payment service provider [veem.com/legal/].

Veem also regularly publishes a

Veem (veem.com) actively engages with its audience through various channels, focusing primarily on direct interactions to showcase its global payment solutions. While specific large-scale conference sponsorships or attendance lists are not explicitly detailed on their website, Veem consistently offers opportunities for businesses to learn about its services through direct engagements. This includes scheduling a personalized demo with a specialist, allowing potential users to see the platform in action and understand its benefits for both domestic and international payments across 100+ countries and 80+ currencies [veem.com/schedule-a-demo/]. These demos serve as a crucial event for potential clients to explore Veem's capabilities, from automating payables to managing cross-border transactions without traditional wire fees [veem.com/library/5-things-you-need-to-know-about-late-payments-online/].

Veem also leverages its platform to announce significant advancements and partnerships, which can be considered a form of event participation within the digital sphere. For instance, the company recently announced its launch of Stablecoin Accounts and Payments for global platforms and businesses, powered by Bridge [veem.com/newsroom/veem-to-launch-stablecoin-accounts-and-payments-for-global-platforms-and-businesses-powered-by-bridge/]. This kind of news release acts as a virtual event, informing its user base and the broader financial community about new offerings like USDV, their purpose-built digital dollar for programmable payments. These announcements highlight Veem's commitment to innovation in the global payments landscape.

Furthermore, Veem emphasizes direct engagement with potential partners through dedicated sections for financial institutions, disbursements, and freelance marketplaces [veem.com/partnerships/financial-institutions/], [veem.com/partnerships/disbursements/], [veem.com/partnerships/freelance-marketplaces/]. By inviting these entities to