Goldman Sachs leads $25M Series B round in blockchain payment platform Veem

Veem, a global payment service provider, has announced that it has raised $25 million in a new funding round led by Goldman Sachs.

Other investors include GV (formerly Google Ventures), Silicon Valley Bank, Extol Capital, Trend Forward Capital, Kleiner Perkins, and Pantera Capital.

“We’re thrilled to have Goldman Sachs lead our investment round. This funding will help us expand our footprint, increase our distribution and form new strategic partnerships,” said Marwan Forzley, CEO and Founder of Veem.

Founded in 2014, Veem rebranded from Align Commerce and raised $24 million in a Series B funding round in March 2017. It has rebuilt a global payment network using revolutionary multi-rail technology, which ensures speed, security, and the lowest possible fees by finding the perfect route for any particular transfer.

Veem leverages blockchain technology and helps small businesses to enter the global market. The company currently boasts of a massive customer base of over 80,000 small businesses in 96 countries.

“A transfer platform secured by distributed ledger technology, blockchain may ultimately be the future of international payments. Veem is on the front lines,” Veem said. “With the close of such a generous funding round, the Veem’s mission will continue to take shape. A global network of small businesses connected through seamless payments. That’s the dream of Veem.”