Veem, a San Francisco, CA–based global payments platform built for small businesses, completed a $US25m strategic financing round.
The round was led by Goldman Sachs with participation from new investors Extol Capital, with participation from existing investors GV (formerly Google Ventures), Kleiner Perkins, Silicon Valley Bank, Trend Forward Capital, and Pantera Capital.
The company intends to use the funds to accelerate growth in the global payments space, increase distribution and form new strategic partnerships.
Led by Marwan Forzley, CEO and Founder, Veem is a global payments company which enables small businesses to send and receive payments in local currency using multi-rail and blockchain technology, and integrations with Quickbooks, Xero and Netsuite.
The company has 80,000 customers using the platform to send and receive money in 96 countries.