OverviewSuggest Edit

Veem is a company that develops a platform enabling businesses to send and receive payments in local currency. The Company's platform allows businesses send or receive money, track their payments end-to-end, and connect to their accounting software.

TypePrivate
Founded2014
HQSan Francisco, CA, US
Websiteveem.com
Employee Ratings3.9
Overall CultureA+

Latest Updates

Employees (est.) (Apr 2022)136
Job Openings21
Revenue (FY, 2021)$59.5 M(+35%)
Cybersecurity ratingAMore
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Key People/Management at Veem

Marwan Forzley

Marwan Forzley

Chief Executive Officer, Co-Founder
Jay Hansen

Jay Hansen

General Counsel and Chief Compliance Officer
Pramod Iyengar

Pramod Iyengar

Chief Financial Officer
Jeff Revoy

Jeff Revoy

Chief Business Officer
Sheila James

Sheila James

Vice President, Operations
Olivier Veyrac

Olivier Veyrac

Vice President, Business Development
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Veem Office Locations

Veem has offices in San Francisco, Ottawa and Shanghai
San Francisco, CA, US (HQ)
75 Broadway st. Ste 202, San Francisco
Ottawa, CA
135 Michael Cowpland Dr #300
Shanghai, CN
463 Tanggu Rd, SiChuan BeiLu, Hongkou Qu
Show all (3)

Veem Financials and Metrics

Summary Metrics

Founding Date

2014

Veem total Funding

$100.3 m

Veem latest funding size

$31 m

Time since last funding

2 years ago

Veem investors

Veem's latest funding round in September 2020 was reported to be $31 m. In total, Veem has raised $100.3 m
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Veem Revenue

Veem's revenue was reported to be $59.54 m in FY, 2021
AUD

Revenue (H1, 2022)

26.5m

Gross profit (H1, 2022)

16.8m

Net income (H1, 2022)

330.0k

EBITDA (H1, 2022)

2.8m

EBIT (H1, 2022)

505.0k

Cash (31-Dec-2021)

4.6m
Annual
AUDFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

40.7m45.0m44.4m59.5m

Cost of goods sold

(18.3m)(16.0m)(16.7m)(25.7m)

Gross profit

22.4m29.0m29.3m35.5m
Half Year
AUDH1, 2019H1, 2020H1, 2021H1, 2022

Revenue

20.4m20.9m30.0m26.5m

Cost of goods sold

(6.3m)(6.4m)(10.8m)(9.6m)

Gross profit

14.1m14.5m19.1m16.8m
Annual
AUDFY, 2018FY, 2019FY, 2020FY, 2021

Cash

305.0k2.9m3.6m2.2m

Accounts Receivable

8.6m6.2m8.7m9.6m

Prepaid Expenses

2.1m2.9m2.5m3.5m

Inventories

13.4m11.0m8.2m13.0m
Half Year
AUDH1, 2019H1, 2020H1, 2021H1, 2022

Cash

905.0k983.0k4.1m4.6m

Accounts Receivable

6.3m5.3m8.8m8.2m

Prepaid Expenses

2.5m783.0k3.2m1.1m

Inventories

14.8m13.9m11.4m15.4m
Annual
AUDFY, 2018FY, 2019FY, 2020FY, 2021

Net Income

2.8m2.6m2.5m4.9m

Depreciation and Amortization

1.6m1.8m1.8m2.1m

Inventories

(4.9m)2.3m2.8m(4.8m)

Accounts Payable

1.5m27.0k(1.4m)1.6m
Half Year
AUDH1, 2019H1, 2020H1, 2021H1, 2022

Net Income

665.0k893.0k3.0m330.0k

Depreciation and Amortization

837.0k937.0k1.9m2.3m
AUDFY, 2018

Revenue/Employee

308.6k
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Veem Operating Metrics

Veem's Customers was reported to be 225 k in Sep, 2020.
Oct, 2015Sep, 2018Feb, 2019Apr, 2019Sep, 2020

Countries

90100

Customers

59080 k100 k100 k225 k
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Veem Acquisitions / Subsidiaries

Company NameDateDeal Size
Veem Payments Inc.

Veem Cybersecurity Score

Cybersecurity ratingPremium dataset

A

92/100

SecurityScorecard logo

Veem Online and Social Media Presence

Embed Graph

Veem Company Culture

  • Overall Culture

    A+

    92/100

  • CEO Rating

    A+

    100/100

  • Compensation

    A+

    92/100

Learn more on Comparably

Veem News and Updates

Veem launches pay later capabilities for SMBs

Veem, a leading provider of online payment solutions, has released two new Veem Capital products to help small and medium-sized businesses ramp spending for their operations.

Veem teams up with online global freight booking platform

Veem, a leading provider of online payment solutions, announced today that they will be partnering with Freightos.com, the online global freight booking platform.

Veem Enhances Multi-Rail Payment Technology, Offering More Choice to Small Business Owners

San Francisco, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Veem, a leading provider of online payment solutions for small-to-midsize businesses, today announced core enhancements to its domestic and international routing technology. Following a successful year of growth for the financial technology firm, th…

Veem expands multi-rail payment tech

Veem, a leading provider of online payment solutions for small-to-midsize businesses, today announced core enhancements to its domestic and international routing technology.

Finexio, Veem Collaborate to Expand Services, Leveraging FX and AP Payments-as-a-Service

Financial technology firms partner to extend accessible payment options to businesses

Veem makes moves to simplify domestic business payments

Veem, a leading provider of online payment solutions for small-to-midsize businesses, today announced the launch of Veem Check. With this new product functionality, US-based users can now issue all of their domestic payments — online, check, or Instant Deposit — within minutes on Veem.
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Veem Blogs

Peers, Partners, and Programming: 3 Keys to Maximize Your Live Accounting Conference Experience

It’s been a great start to the in person conference season here at AccountingWEB Live Summit in San Diego and I am enjoying visiting all my friends, colleagues, and learning new strategies, tools, and insights that I can take away to use in my practice. In addition, it’s been so much fun participati…

A Matter of Moxie: A Beginners Approach to An Existing Practice

Looking back at some files from my early days of bookkeeping, when I was just starting my practice, Totally Booked, I ran across an article from 2018. It was written by the folks at Veem, but based on an interview with me – all about how I came to be a Veem fan during my […] The post A Matter of Mox…

It’s Time to Change the Way We Think About Our Practices

As accounting professionals, we spend a lot of time (beginning the day after tax season ends) trying to create more efficiencies in our own practices.  We look at better workflows, standardized templates, and automation of every sort to try to help us get more work done.  Recent (and what seems like…

It’s Time to Reconnect to Accelerate Your Success! 6 Ways to Maximize Every Accounting Conference Experience

For me, this time of year is spring training season. Not only is the women’s collegiate softball team I coach, actually doing this physically as they prepare for games, but I am also using the time post tax season to get myself, my team, and my firm in peak condition for the rest of the […] The post…

How to Grow Your Accounting Practice for the Future, Starting Today

For small business owners, the future is what you make it. Planting seeds today will help you grow tomorrow. The question is, what can you start doing right now that will yield results for your firm down the road? For accounting practices, it’s a question with no shortage of right answers. Should yo…

5 tips to get the most out of event season as an Accountant

Feel like you can’t remember the last time you even considered a networking event? Don’t worry; we’re all a little rusty! After a few years of virtual events, most of us are ready to get back in the saddle at this years’ big accounting trade shows like AccountingWEB Live Summit, Scaling New Heights …
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Veem Frequently Asked Questions

  • When was Veem founded?

    Veem was founded in 2014.

  • Who are Veem key executives?

    Veem's key executives are Marwan Forzley, Jay Hansen and Pramod Iyengar.

  • How many employees does Veem have?

    Veem has 136 employees.

  • What is Veem revenue?

    Latest Veem annual revenue is $59.5 m.

  • What is Veem revenue per employee?

    Latest Veem revenue per employee is $437.8 k.

  • Who are Veem competitors?

    Competitors of Veem include Turbonomic, Traxpay and WePay.

  • Where is Veem headquarters?

    Veem headquarters is located at 75 Broadway st. Ste 202, San Francisco, San Francisco.

  • Where are Veem offices?

    Veem has offices in San Francisco, Ottawa and Shanghai.

  • How many offices does Veem have?

    Veem has 3 offices.