On Thursday, global payments platform Veem announced it has formed a partnership with BlueVine, a provider of working capital financing to small and medium-sized businesses. The companies reported that the new partnership will allow Veem’s US-based clients to finance their cross-border and domestic payments, and get access to working capital for everyday business expenses.
While sharing details about the partnership, Marwan Forzley, founder and CEO of Veem, stated:
“An astounding number, 82 percent according to Entrepreneur, of small businesses fail due to cash flow challenges. Small business owners invest blood, sweat and tears to get their business off the ground and a lack of available capital shouldn’t be the reason a business dies. By working with BlueVine, we are providing our customers access to the capital they need when they need it so they can continue living their dream.”
Veem also noted that BlueVine’s working capital solutions have provided tens of thousands of business owners with convenient access to funds to address short-term working capital needs. BlueVine offers business lines of credit up to $200,000, and invoice financing up to $5 million. Eyal Lifshitz, CEO of BlueVine, added:
“BlueVine and Veem have a similar mission — empowering small businesses with the tools they need to succeed. Business owners transacting cross-border have unique working capital challenges, and we’re excited to work with Veem to change that. With this partnership, our two companies are in a even stronger position to provide businesses with the financing they need to conquer their cash flow challenges. There’s so much potential with this partnership and we are excited to work closely with the Veem team.”