Veeam CE to cloud via IaaS Vsphere environment

Hello all. I have a client that are a bit of penny pinchers. (kind of have to be right now). Very long story, but in a nut shell they moved their on-prem environment to a local data center who have provided a Vsphere infrastructure environment. This allowed them to make their company 100% remote and they got rid of their office. All in all, I am trying to backup their environment which consists of a single server with a 10TB thick provisioned drive. I cannot do Snapshots because there is only enough space on the IaaS to support the Server. They don't allow External HDD or Nas plugged into the environment. They have backup options with the provider but it costs almost as much per month as the environment does which seems silly when they are probably (hopefully) already backing up our environment for redundancy. Here is the idea I had that would cost the least amount of money for the client:

1. Install Veeam Community Edition

2. Get a Wasabi Bucket at $60/m for the storage

3. Backup the server to Wasabi

Simple, elegant, cheap (in theory). I am just not sure if this will work efficiently. Thoughts? other ideas? I am open to criticism, lol.