Veem is a San Francisco-based online global payments platform founded in 2014 by Marwan Forzley and Aldo Carrascoso. It was formerly known as Align Commerce, changing its name to Veem on 8 March 2017. The company services 100 countries and 70 currencies including USD, CAD, GBP, EUR, HKD, CNY, and AUD. Customers in 100 countries can receive payments, and customers in 25 of those can send payments.
Payments are sent using various rails, the one used being determined internally when a payment is sent. The company routes payments using SWIFT, automated clearing house, treasury accounts, digital wallets, debit cards, and blockchain. The company targets small-to-midsize businesses, freelancers, and businesses offering international services. In 2020, Veem reached a customer base of 225,000 users.
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." In 2014, the first payment on the platform was sent from an American business to its Filipino contractors. In 2019, Veem began offering a full suite of enterprise-level payment tools including working capital, locked exchange rates, rate tracking, real-time payments, and digital wallets to its users. In April 2020, Veem acted as a front-end component to the Small Business Administration Paycheck Protection Program to facilitate loans and customer support to small businesses as a result of the COVID-19 pandemic.