The payment service provider blockchain startup Veem announced the closing of a round of strategic funding at 25 million, led by investment Bank Goldman Sachs.

The round was also attended GV (formerly Google Ventures), Silicon Valley Bank, Extol Capital, Trend Forward Capital, Kleiner Perkins and Pantera Capital, the startup said in a press release.

Founded in 2014 the company aims at solving the problems of small businesses faced “with slow, outdated and costly system of transferring money when making international payments.”

” 40-year-old technology systematically SWIFT hits the small business commissions, loses payments and lacks the transparency required to ensure reliability and safety”, according to the Veem.

The startup offers users a multi-channel payment platform that includes both traditional solutions based on
SWIFT and based on the blockchain. The platform provides speed, security and a low Commission, including, due to the choice of the most optimal route for each particular payment, the statement said.

As noted by the company, customer base payment on blockchain platform is growing exponentially: during the closing of the funding round series A in 2015 Veem, there were 590 clients, in 2017 round B, there were already 18 thousand. Now the platform is used by 80 thousand small businesses from 96 countries.

We will remind that last autumn, Goldman Sachs and Google was named the most active investors in the blockchain. While the investment Bank has not yet came out on the cryptocurrency market any products, although we created the unit for digital assets. In August it became known that Goldman Sachs develops derivatives for bitcoin because “their customers want”. However, the Bank stressed that the launch of new products must custodian solution for cryptocurrencies, which, however, the Bank has already created.