Align Commerce Raises $24 Million, Will Rebrand

News | March 10, 2017 By:

US-based bitcoin startup Align Commerce, which is rebranding as Veem, has closed a $24 million Series B funding round.

The funding round was led by National Australia Bank Ventures and included GV (formerly Google Ventures) and SBI Investment. The investment also saw contributions from existing investors Kleiner Perkins Caufield Byers and Silicon Valley Bank.

Melissa Widner, general partner of NAB Ventures, will join Veem’s board of advisors.

“At Veem, we understand even ‘mom and pop’ businesses must embrace globalization to compete with incumbents, grow their businesses and innovate,” said Veem CEO Marwan Forzley. “Unfortunately, the current international payments experience is fundamentally broken, stifling SMBs’ globalization efforts.”

Forzley claimed his platform, which targets small businesses, allows easy Veem payments, data and invoices across the globe.