What thickness is the veneer you will be cutting? Only problem I see with that is that vinyl is a very thin material plus you are only cutting through the actual vinyl not the backing sheet, if you are talking about cutting through veneer you will also need some sort of sacrificial material underneath so you don't cut into the bed or blunt the blade to quickly.
Might also find a 60 degree blade will cut better than a 45 degree as these are what are used to cut thicker materials using sign plotters.