Veem

What Veem does

Veem is a San Francisco-based global business payments platform founded in 2014 that simplifies cross-border B2B payments for small and medium-sized businesses. The company serves over 1.5 million users across 100+ countries with support for 80+ currencies, offering a unified ecosystem of payment products including Veem Wallet (multi-currency digital wallet supporting 15 currencies with FDIC insurance), Virtual Card (USD-denominated Visa-accepting debit card), Virtual Bank Account (local account details issued in 6+ countries), Payables, and Receivables modules, along with feature modules for Mass Pay, Payment Scheduling, Approvals, and Request Payments. The platform also extends to mobile wallet integration with Apple Pay, Google Pay, and Samsung Pay.

The core technology is a multi-rail payment orchestration engine that intelligently routes transactions across bank rails (ACH, EFT, SWIFT, RTP), card networks (Visa, Mastercard), and stablecoin blockchains (USDC, USDT), with real-time payment tracking and two-way accounting software sync (QuickBooks, Xero, NetSuite). Veem's regulatory coverage includes money transmitter licenses in all 50 U.S. states, FINTRAC and AMF Quebec registration in Canada, and authorized representative status in Australia, with international infrastructure partnerships through Currencycloud (FCA-authorized), Citi, and Pathward. The platform offers a REST API with low-code Payee and Payer Plugins enabling partners (Q2, Finastra, LianLian Global, Everflow, PopBookings, JazzCash) to embed cross-border payment capabilities.

Veem operates a hybrid go-to-market combining product-led self-serve acquisition (free Basic plan, $24.99/month Premium, 30-day free trial) with channel partnerships and enterprise sales to financial institutions and platforms. Revenue is generated through subscription fees, transaction-based charges (card fees 1.5%-3.5%, bank transfer fees, $1.99 per check, $29 international USD receiving fees), FX margins on non-USD international transfers, and partner referral fees ($100 per referred customer or accountant-referred client). The company has raised approximately $125.85M across multiple funding rounds from 2014-2020, with investors including Goldman Sachs, Kleiner Perkins, GV (Google Ventures), Truist, NAB Ventures, Pantera Capital, and MUFG Innovation Partners. Recent strategic moves include Virtual Card stablecoin expansion (June 2026), Global Virtual Accounts with Visa (March 2026), Circle CPN Managed Payments founding partnership (April 2026), and AI Assistant launch (May 2026).

Name

Veem

Legal name

Veem Inc.

Website

https://veem.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Veem is a San Francisco-based global payments platform founded in 2014 that enables small and medium-sized businesses to send and receive cross-border payments across 100+ countries and 80+ currencies via bank, card, wallet, and stablecoin rails, serving over 1.5 million users through a freemium subscription and embedded partner distribution model.

Ownership category

akta.pro rank

Product category

Cross-Border Business Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE)

akta.pro secondary industries

Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD), Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE), Biller Direct EBPP Platforms (FSAMAJAA), B2B Crypto Payouts, Mass Payments & Treasury Disbursements (FSADAIAF)

Keywords

• Cross-border payments
• Business payment platform
• Multi-currency wallet
• Accounts payable automation
• Stablecoin payment infrastructure

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Premium Subscription Fees: Veem charges a monthly subscription for its Premium plan ($24.99 USD / $34.99 CAD per month) which unlocks free domestic bank transfers, unlimited payment options, advanced automations (Mass Pay, Approval Workflows), and accounting integrations. The Basic plan is free.
2. Transaction and Payment Fees: Veem earns fees on specific payment methods: credit card payments (3.5% domestic, higher for business accounts), debit card payments (1.5% U.S., higher internationally), same-day bank transfers (0.5%), instant bank transfers (1% up to $20 max), and check processing ($1.99 per check). International USD receipts incur $29 receiving fees. FX margins are embedded in exchange rates for international transfers in non-USD currencies.
3. Foreign Exchange Margins: Veem generates revenue through the spread between the interbank FX rate and the rate offered to customers. The dynamic FX pricing tiers mean higher-volume customers get better rates, but Veem retains a margin on all currency conversions across 80+ currencies.
4. Referral Program Incentives: Veem pays $100 referral rewards to existing customers who refer new businesses that complete a $250+ transaction within 30 days. This is a customer acquisition cost structured as a referral payout, funded by the lifetime value of acquired customers.
5. Accountant Partner Referral Fees: Veem pays accountants $100 for each client they onboard to the platform. This channel drives B2B customer acquisition through the accounting profession.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Veem is a global B2B payments platform that enables businesses to send and receive international payments across 100+ countries and 80+ currencies via multiple rails including bank transfers (ACH, EFT, SWIFT, RTP), card networks (Visa, Mastercard), stablecoins (USDC, USDT), and checks. The platform bundles multi-currency wallets, virtual bank accounts in six regions, virtual debit cards, AP/AR automation (Mass Pay, approvals, scheduling, accounting sync), real-time payment tracking, dynamic FX pricing, and an AI assistant. Veem also exposes its payment infrastructure via APIs and white-label partner solutions for financial institutions, PSPs, freelance marketplaces, and AP/AR platforms.

Product overview

Veem is a global business payments platform offering a unified ecosystem of payment products. The core platform consists of Veem Wallet (multi-currency digital wallet supporting 15 currencies), Virtual Card (Visa-accepting debit card for U.S. users), Virtual Bank Account (local account details for receiving payments), Payables (accounts payable management), and Receivables (accounts receivable management). Supporting feature modules include Mass Pay (bulk payments), Payment Scheduling (recurring automation), Approvals (workflow authorization), Payment Tracking (real-time visibility), Dynamic FX (volume-based exchange pricing), Global Instant Deposit (accelerated receiving), Checks (paper check sending), and Request Payments (invoicing and Pay Links). The platform also offers Partner Solutions including Stablecoin Solutions, Virtual Bank Account Solution, Collections, Disbursements, and industry-specific solutions for Financial Institutions, Freelance Marketplaces, Payment Service Providers, AP/AR Platforms, and Accountants. All products are accessible via web dashboard, mobile apps, and REST API with integration options for accounting software (QuickBooks, Xero, NetSuite).

Differentiator

Problem solved

Functional benefit

Products and services

• Veem Wallet Multi-currency digital wallet enabling users to hold, send, receive, and manage funds in up to 15 currencies (USD, CAD, GBP, EUR, AUD, INR, JPY, MXN, KRW, SAR, ZAR, TRY, IDR, CNY, PHP) across 100+ countries with FDIC insurance protection and fee-free transfers between Veem users.
• Virtual Card Virtual debit card enabling users to get paid faster and make fee-free purchases anywhere Visa is accepted globally, with no annual or transaction fees. Supports mobile wallet integration with Apple Pay, Google Pay, and Samsung Pay. Powered by Pathward N.A. and Marqeta infrastructure.
• Virtual Bank Account Digital bank accounts issued in the user's business name, providing local account details (wire, routing, IBAN numbers) for receiving domestic and international transfers. Available in U.S., Canada, Europe, UK, Brazil, and Mexico without requiring a local entity.
• Payables Accounts payable management module enabling businesses to send domestic and international payments in 80+ currencies to 100+ countries via bank transfers, cards, checks, and stablecoins (USDC, USDT). Includes automation features such as Mass Pay, scheduling, approvals, and accounting integrations with QuickBooks, Xero, and NetSuite.
• Receivables

Quantifiable outcome

• Saves $30-$50 per international transaction vs. traditional banks
• +6 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature8 records

Partnerships

21 partnerships are on record, tiered core, supporting, strategic and minor.

• RaincoreTechnology or Integration · 16 June 2026Rain provides the card issuing and stablecoin-enabled payment infrastructure powering Veem's expanded Virtual Card program with stablecoin support. Rain handles the underlying card issuance (in partnership with Pathward N.A.) and stablecoin rails, enabling eligible non-U.S. businesses to fund USD virtual cards using supported stablecoins.
• CirclecoreTechnology or Integration · 8 April 2026Circle launched CPN Managed Payments in collaboration with Veem, Thunes, and Worldline as founding financial institution partners. The platform enables payment service providers and fintechs to adopt regulated stablecoin payments (USDC) without directly managing digital assets. Veem participates as a launch partner leveraging Circle's USDC minting/burning and payment orchestration infrastructure.
• ThunessupportingTechnology or Integration · 8 April 2026Thunes is a founding launch partner in Circle's CPN Managed Payments platform alongside Veem and Worldline, providing cross-border payment network infrastructure.
• WorldlinesupportingTechnology or Integration · 8 April 2026Worldline is a founding launch partner in Circle's CPN Managed Payments platform alongside Veem and Thunes, providing European payment infrastructure.
• VisacoreStrategic or Co-development Partner · 30 March 2026Veem expanded its partnership with Visa to launch Global Virtual Accounts, enabling businesses to collect, hold, and disburse funds across the U.S., Canada, UK, and Europe using Visa Direct's global money movement network. The offering allows businesses to open verified local account details in multiple regions, creating a legitimate financial presence in-market. This is the next phase of Veem's collaboration with Visa advancing localization of global commerce for fintechs, marketplaces, and exporters.
• Coins.phcoreStrategic or Co-development Partner · 19 January 2026Veem and Coins.ph expanded their partnership to enable faster, cheaper cross-border payments from the U.S. and Canada to the Philippines. Coins.ph handles peso conversion, compliance, and domestic disbursement to 100+ banks and e-wallets. Both companies explore stablecoin settlement options including USDC, leveraging Veem's pre-funded USD liquidity model and Coins.ph's BSP-regulated payout network. Targets Filipino remote workers, freelancers, and small outsourcing firms.
• FinFanstrategicStrategic or Co-development Partner · 16 November 2025FinFan, a Vietnam-based fintech, partnered with Veem to expand international payment infrastructure for Vietnamese businesses. The collaboration enables Vietnamese companies to receive payments from over 100 countries and supports global commerce between Asia and North America.
• Australian Submarine Agency / Australian GovernmentminorOthers · 25 July 2025Veem received a $2 million defence industry development grant under the Australian Submarine Agency for machining and 3D sand printing for submarine components. This appears to be a separate defence manufacturing activity unrelated to Veem's core payments business.
• Q2strategicTechnology or IntegrationQ2 is a financial services company that partners with Veem to provide digital banking and payment capabilities to their shared financial institution customers.
• FinastrastrategicTechnology or IntegrationFinastra, a major financial software platform, partners with Veem to enable banks and credit unions to offer cross-border payment capabilities to their SMB customers through embedded Veem infrastructure.
• LianLian Global (LianLian DigiTech)strategicTechnology or IntegrationLianLian Global integrates Veem's payment infrastructure to bring cross-border USD and international payment services to users in key international markets. LianLian Global is a payment service provider with global reach.
• First Financial Bank, Texas Security Bank, Sunrise Banks, First Farmers Bank and Trust, Banner Bank, Bank MidwestsupportingTechnology or IntegrationMultiple U.S. community and regional banks partner with Veem to embed cross-border payment technology for their SMB customers, enabling features like international disbursements and multi-currency capabilities.
• PopBookingssupportingTechnology or IntegrationPopBookings integrates Veem to power on-platform contractor payouts at scale, ensuring brand ambassadors and event contractors get paid quickly and reliably through the Veem global payments network.
• JazzCashsupportingTechnology or IntegrationJazzCash, Pakistan's digital wallet platform, partnered with Veem to enable freelancers and SMBs in Pakistan to receive fast, affordable USD transfers, expanding their global reach through Veem's cross-border payment network.
• SomewheresupportingTechnology or IntegrationSomewhere, a global hiring platform, uses Veem to enable SMBs to pay contractors in the Philippines seamlessly with flexible payouts in USD or local currency, supporting global hiring workflows.
• LianLian GlobalstrategicChannel Partner/ Reseller/ DistributorLianLian Global integrates Veem's payment capabilities to expand their cross-border payment services globally. The CEO Tim Shen noted that 'Working with Veem allows us to bring our services to more users in key international markets.'
• EverflowsupportingTechnology or IntegrationEverflow, an AP/AR platform, integrates Veem to give its clients immediate access to a safe and convenient way to manage international payments directly from the Everflow platform.
• MarqetacoreTechnology or IntegrationMarqeta provides the card issuing processor for Veem's Virtual Debit Card. All card transactions are subject to Marqeta's internal approval rules, and Marqeta handles chargeback disputes in coordination with Veem's customer success team.
• Pathward (formerly MetaBank)coreTechnology or IntegrationPathward N.A. is the FDIC Member bank that issues Veem's Virtual Debit Card pursuant to a Visa license. Pathward provides the banking charter and regulatory oversight for the card program.
• CitisupportingTechnology or IntegrationCiti partners with Veem to provide Virtual Bank Accounts. Citi-issued Virtual Bank Accounts are backed by FDIC insurance protecting funds up to $250,000 USD. Veem works with regulated financial partners including Citi and Currencycloud to safeguard customer funds.
• CurrencycloudcoreTechnology or IntegrationCurrencycloud is Veem's primary partner for Virtual Bank Account issuance and fund safeguarding. They issue electronic money, safeguard customer funds, and provide the banking infrastructure for accounts in the UK, EU, US, and other regions. Currencycloud is authorized by the FCA (UK) and DNB (Netherlands) and works with Veem for PCI-DSS compliant fund protection.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bill.com: Cloud-based AP/AR automation platform for SMBs and mid-market with embedded payments. Closely comparable to Veem's AP/AR automation positioning, QuickBooks/Xero/NetSuite integration story, and SMB-focused GTM.
• Wise: Public cross-border payments company serving consumers and businesses with multi-currency accounts and FX transfers. Most direct competitor to Veem's core SMB cross-border B2B use case, with overlapping currency coverage and pricing model.
• Payoneer: Public cross-border B2B payments and working capital provider for SMBs, marketplaces, and freelancers. Overlaps directly with Veem on international contractor payouts, marketplace settlements, and multi-currency receiving accounts.
• Airwallex: Global payments and treasury platform for businesses with multi-currency accounts, FX, and embedded APIs. Competes head-to-head with Veem on SMB cross-border payouts, virtual accounts, and developer-first integrations.

Emerging players

• Rippling: Unified workforce and finance platform with global payroll, contractor payments, and corporate cards. Overlaps with Veem on international contractor payouts and AP automation, but bundles HR/payroll/IT together.
• Mercury: Business banking platform for startups with multi-currency accounts, domestic and international wires, and developer APIs. Competes with Veem on the cross-border account/receiving experience for SMB and startup customers.
• Brex: All-in-one business banking and payments platform for startups and SMBs, with cards, bill pay, and cross-border capabilities. Comparable to Veem on SMB GTM, multi-currency, and AP/AR-style workflows.
• Melio: B2B payments platform for SMBs focused on U.S. bill pay, AP automation, and accounting integrations. Comparable to Veem on QuickBooks/Xero-driven SMB AP workflows, though Veem extends further into cross-border.

Broad incumbents

• PayPal: Global incumbent in consumer and SMB payments with cross-border B2B capabilities, Xoom, and PayPal Business. Overlaps with Veem on international payments, virtual cards, and accounting integrations but at materially greater scale.
• Stripe: Dominant internet payment processor with Stripe Connect, multi-currency accounts, and global payouts for platforms. Competes with Veem on embedded payments infrastructure and platform/marketplace use cases.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GoVeem
• Facebookfacebook.com/goveem
• LinkedInlinkedin.com/company/veem

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds10 records

Investors31 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veem