ORLANDO, Fla., December 3, 2020 (Newswire.com) - Finexio, a rapidly growing payables-as-a-service platform, and Veem, a leading provider of online payment solutions, announced today an innovative new partnership combining the best of Veem's international foreign exchange capabilities with Finexio's domestic payment features.
Built with businesses in mind, Veem's extensive foreign exchange payments network enables Finexio's clients to seamlessly pay suppliers in over 110 countries around the world. Simultaneously, Finexio's unique API driven payments-as-a-service platform expedites the ability for Veem to efficiently make payments leveraging Finexio's ten payment methods to optimize outbound payments.
With more than 250,000 global customers, Veem has successfully closed multiple funding rounds with investment from Truist Ventures, Goldman Sachs, GV, Silicon Valley Bank, and others. Veem's highly integrated platform syncs with accounting and ERP platforms including NetSuite, QuickBooks, Xero, and Magneto.
"We're delighted to partner with Veem, enabling our large customers with complex cross-border payment needs to access a global payments platform via a single API," said Ernest Rolfson, Finexio CEO. "Together, Veem and Finexio are satisfying the need CFOs have for cost reductions and automation to offset revenue and cash flows impacted by the COVID-19 pandemic."
"Now more than ever, businesses are demanding flexible and cost-effective payment options. Our partnership with Finexio is another example of how Veem is responding to the needs of small and mid-size businesses," said Marwan Forzley, CEO of Veem. "Veem is experiencing unprecedented demand for its services as back office finance professionals tighten up their payable and receivable processes to better control cash flow."
Finexio, a pioneer in AP Payments as a Service, focuses on a strategy of providing end-to-end AP payment capabilities within AP Software and Procurement Software Platforms. This combination represents a powerful disruption to traditional, manual-based AP processes. Strong growth during the pandemic - 46% month over month growth fueled by new customer acquisition - represents a convergence of powerful trends within corporate finance. Finexio's modern, efficient service model, minimal process charges and comprehensive payments solutions translates to high margin revenue streams and a strong competitive position. Learn more about Finexio at www.finexio.com or follow us on LinkedIn.
Veem simplifies the way businesses send and receive funds globally and within the US and Canada. Trusted by more than 250,000 businesses in over 110 countries, Veem offers a suite of back office financial services that streamline the payments process with partners and suppliers. Veem's secure payments, combined with seamless integrations with popular business applications, enable businesses to save time and money, while mitigating risk generally associated with international funds transfers. Veem is licensed and regulated in each country and state it serves. Learn more at www.veem.com or follow us on LinkedIn.