Truist strategic funding of Veem
9/16/2020

Davis Polk advised Truist Ventures, the corporate venture capital division of Truist Financial Corporation, on its lead role in a $31 million strategic funding round in Veem. 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 included partners Margaret E. Tahyar, Evan Rosen and Byron B. Rooney, counsel Christopher M. Paridon and associate Malik M. Khalil. Members of the Davis Polk team are based in the New York and Washington DC offices.