B2B Payments

Veem Reveals First Firms To Use Its API

B2B payments platform Veem is expanding as third parties integrate its capabilities via application programming interface (API). This week, the company has announced the first partners to do so.

Reports in Bankless Times on Thursday (Feb. 22) said Veem is working with logistics company Cargocentric, virtual staffing tool EliteWork, accounting company HireAthena and virtual reality company SpringboardVR, which have integrated Veem’s B2B payments capabilities via its APIs.

“We knew our API would be useful for companies of all kinds in need of global payment capabilities, but even we were surprised to see the variety of companies that found Veem and started to build using our API,” said Veem Vice President of API Product Cheung Tam in a statement. “We’re just a couple of months post-launch, and the success we’ve seen has been inspiring.”

Tina Wang, head of Product at HireAthena, which provides automated accounting and human resources solutions, said Veem’s solution will help the company expand its own global efforts.

“We are ramping up our international payment processing and found that our domestic solution wasn’t working on a global level,” Wang said in another statement. “It took too long for payments to arrive, so we ended up processing and tracking most international payments manually. This just wasn’t something we could scale, so we were excited to find Veem and integrate with their API so that international payments are easy, instant and aligned with our best practices.”

Last September, Veem announced a cross-collaboration with another accounting company, Xero. That partnership saw Xero integrate Veem to automate the flow of payments data and enable cross-border B2B payments.

Less than a year ago, Veem announced $24 million in funding from National Australia Bank Ventures, GV and SBI Investment Co. The firm said at the time that the Series B funding would go toward global expansion.

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