Veem Announces Introduction for BNPL Service for SMBs

​San Francisco-based global payments network Veem announced the the official launch of Veem Capital, a buy now, pay later instrument, for enabling small and medium businesses (SMBs) to get access to key funds and products fast and safely.

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Veem pointed out that it was temporary lack of cash flow that made SMBs struggle to stay open, rather than poor sales or profitability. Hence, it felt crucial to roll out BNPL platform Veem Capital, which was deigned to provide cash flow support for its customers in the form of paying with credit cards and access to capital with a more likely approval process than a bank. While revenue may not be available for SMBs, Veem Capital allows businesses to stay afloat, avoid bankruptcy and cover operational costs such as payroll, electricity, and rent.

“Business might be rebounding, but what owners aren’t aware of is they still need help managing cash flow to keep their doors open,” said Veem Chief Growth Officer Jeff Revoy. “Veem is helping SMBs get out of this payment situation with the assistance of Veem Capital. ”