Veem
company on 2 shows · 12 statements across 1 episodes · said 23 times in 2 episodes since 2018
Top Founders 22 
the a16z Podcast 1
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Top Founders 22the a16z Podcast 1
2021 22 mentions in 1 episode
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12 statements about Veem, every show
Veem has 300,000 accounts across 110 countries and 70 currencies
“We have about 300,000 accounts on the platform. We're in a 110 countries. We have 70 plus currencies that we support.”
Veem's account base has doubled every year since its inception
“We doubled the number of accounts pretty much every year. You know, we've been in existence and like every year, the number of accounts on the platform at least doubles.”
Forzley: 65% of Veem's monthly new signups come from customer transactions
“Every month that that passes by 65% of new accounts come in from customers are on the platform.”
Veem charges no subscription or ACH fees, monetizing through advanced features
“What's interesting is there's no subscription fee, there's no setup fee, there's no transaction fees on HTAs, checks, or debit cards. They're all for free. So we make money on what we call advanced features, which is credit cards, foreign exchange, and capital…”
Forzley expects Veem revenue to split evenly across FX, cards, capital
“Yeah, they'll, they'll divvy up like maybe a third.”
Veem charges 1% for instant debit deposits and 2.9% for cards
“We charge one percent on payments to a debit card. That's real time payments. Instantly, the money is deposited in your bank account. That's linked to your debit card. On paying with a card, we charge 2.9%.”
Veem allows SMBs to defer vendor payments up to six months
“You can push up to six months. Oh, wow. You pay anywhere from about a percent to two percent a month on that schedule.”
Forzley: Lending capital scales best when embedded into existing payments workflows
“Because if you look at where capital has scaled in the past, it's situations where it is embedded into something else. Payments is a natural.”
Veem generates approximately $20 in monthly average revenue per SMB customer
“It's SMBs. You're making, yeah, like, 20 bucks a month is a good you know good way to characterize it.”
Veem is licensed in every U.S. state, a multi-year regulatory process
“We are a regulated company, meaning we're licensed in every single state in the U.S., and we also have licenses in other parts of the world. So it took us like two, three years just Like legal compliance licensing.”