Veem

blockchainremittancesb2b fintech

FOUNDING YEAR: 2014
LOCATION: United States
Last Update: 19/01/2021

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About

All businesses want to do is pay vendors, suppliers, and contractors anywhere, at anytime, with ease. Legacy financial systems and old technologies make this dream nearly impossible. Veem makes it a reality.Businesses of any size enjoy simple, secure and seamless payments on the Veem network in over 110 countries. Veem's next-generation payment tools enable businesses to streamline their processes and build business relationships with suppliers and partners all over the world. Through seamless integrations with popular business applications, Veem provides a revolutionary payment experience.

MEDICI Analysis

Veem was formerly known as Align Commerce, it is a payment service provider (PSP) which enables businesses and payment platforms to send and receive payments in local currency via a simple, frictionless methodology, using the blockchain as the settlement rail. The mission of the company is to change the legacy financial payment system through innovation.

Focus

PRODUCTS & SERVICES

Blockchain-based payment service provider for cross-border businesses

REVENUE MODEL

Company earns revenue by charging exchange fee of 1.9% per transaction.

MAIN CLIENTS

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PRIMARY PROBLEM SOLVED

Once the account is setup, Align Commerce delivers the payment anywhere on the same day to three days later. The company gives 100% flexibility and control to make payments in the currency its client desire. For example, if a Mexican-based business wants to pay a European business in euros, they can. Or, if they want to pay in Mexican pesos, they can.

COMMENT

Align Commerce is the first in the industry to create a patent-pending, multi-rail payment technology. With the multi-rail payment technology, customers can send and collect payments by email without the need to figure out the bank account information and the swift codes of the receiver. Being the first to launch such technology, the company differentiates from its competitors and gets a first-mover advantage.

Traction

VALUATION / MARKET CAP:

$83.3 M in 2015

COMPANY TYPE:

For Profit

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

151,770

AVERAGE VISITS (6 MONTHS)

152,828.82

MONTHLY VISITS GROWTH

3.99%

VISIT DURATION

499

VISIT DURATION GROWTH

-14.86%

PAGE VIEWS VISIT

9.42

PAGE VIEWS VISIT GROWTH

-13.28%

BOUNCE RATE

34.31%

BOUNCE RATE GROWTH

2.73%

GLOBAL TRAFFIC RANK

145,536

MONTHLY RANK CHANGE

-19,447

MONTHLY RANK GROWTH

-11.79%

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Align Commerce

About

Align Commerce is a payment service provider to enable businesses and payment platforms to send and receive payments in local currency by using Blockchain technology.

Focus

PRODUCTS & SERVICES

Blockchain based payment service provider (PSP)

REVENUE MODEL

Company earns revenue by charging exchange fee of 1.9% per transaction.

Traction

LIVE USERS/TRANSACTIONS:

No live users/transaction yet

Momentum

FUNDED

YES

TOTAL FUNDING:

$12.5 M

LISTED

NO

FUNDING SERIES

SERIES A  · $12.5 M  · ---