Bitcoin startup Veem receives financial boost from Google and Goldman Sachs

Bitcoin startup Veem receives financial boost from Google and Goldman Sachs 24150
Madhurima Roy
Sep 27, 2018 at 10:30 PM

Veem, the first global payments platform to use blockchain technology, announced on 26th September that it has closed a $25 million funding round led by Goldman Sachs. With the use of Bitcoin, Veem directly connects the bank accounts of its users with suppliers and customers; and thereby, removes the dependency on third parties to move money across the world.

In order to boost growth and expansion of Veem, GV (formerly Google Ventures), Silicon Valley Bank, Extol Capital, Trend Forward Capital, Kleiner Perkins, and Pantera Capital invested in the funding round.

“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 & Founder of Veem.

Veem announced on Twitter, stating:

Veem has been working to refurbish the global payments space, as we know it, since its inception in 2014. The platform has engaged itself with blockchain technology, and is one of its first to employ the advanced technology in securing financial transactions.

Talking about its platform, Veem mentioned in its blog: "Our multi-rail payments platform ensures speed, security, and the lowest possible fees by finding the perfect route for any particular transfer. Veem has also leveraged blockchain technology from the start. A transfer platform secured by distributed ledger technology, blockchain may ultimately be the future of international payments. Veem is on the front lines."


SEE ALSO: John McAfee: Blockchain backed “permissionless society” and cryptocurrency to free us from being “hired slaves”

SEE ALSO: Pesamill Africa launches trading in Africa’s third biggest Bitcoin market


Image via Shutterstock

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