Davis Polk advised Truist Ventures on the deal.
Veem completed a $31 million strategic funding round, in which Truist Ventures, the corporate venture capital division of Truist Financial Corporation, had a lead role. This investment will go towards the development of a robust channel partner program that will widen Veem’s geographic footprint.
Veem simplifies the way businesses send and receive funds globally. Trusted by more than 225,000 businesses in over 100 countries, Veem offers a suite of payment services to establish and strengthen partner and supplier relationships. Truist Ventures is the corporate venture capital division of Truist Financial Corporation, a purpose-driven financial services company committed to inspire and build better lives and communities.
The Davis Polk corporate team advising Truist Ventures included partners Margaret E. Tahyar (Picture), Evan Rosen and Byron B. Rooney, counsel Christopher M. Paridon and associate Malik M. Khalil.
Involved fees earner: Malik Khalil – Davis Polk & Wardwell; Christopher Paridon – Davis Polk & Wardwell; Byron Rooney – Davis Polk & Wardwell; Evan Rosen – Davis Polk & Wardwell; Margaret Tahyar – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;
Clients: Truist Ventures;