Venmo

Venmo

A mobile application, owned by PayPal, that allows users to make fast and direct money exchanges, which can then be transferred directly to the user's bank account.

Venmo is a company owned by PayPal that was founded in 2009 by Andrew Kortina and Iqram Magdon-Ismali. It is best known for its role in cashless money exchange amongst peers.

Timeline

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Venmo seed round
1,200,000
May 7, 2010
2 Results
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People

Name
Role
LinkedIn

Aaron Sittig

Investor

Adam Ludwin

Investor

Alan Vaynerchuk

Investor

Ben Guo

Employee

Bryan Cartwright

Employee

Cale Rogers

Employee

Cody De La Vara

Employee

Dave Morin

Investor

David Friedman

Employee

Dustin Moskovitz

Investor

Elan Arbitsman

Employee

Eric Wiesen

Investor

Esther Jang

Employee

Gary Vaynerchuk

Investor

Ian Sigalow

Investor

Jacob Boerema

Employee

Jacqui Maguire

Employee

James D Robinson

Advisor

James Turnbull

Employee

Jenny Stanchak

Employee

Jesse Bentert

Employee

Joel Witten

Employee

John Downey

Employee

Jordan Cooper

Investor

Jorge Escobar

Employee

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Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Madison Hogan
August 3, 2020
AmericanInno
Financial deals, mergers and acquisitions in the tech ecosystem are mentioned daily in the Atlanta Inno Beat newsletter, along with insights on how personnel moves may impact a startup's future. Sign up for the Beat to get it each day in your inbox. Check out the most important mergers, acquisitions and investments from Atlanta technology companies from July 2020. Did we miss a deal? Let me know at mhogan@americaninno.com. Pattern89, an Indianapolis-based AI and marketing tech company, raised $2M in a round led by Break Trail Ventures in Ohio, High Alpha Capital and Elevate Ventures in Indianapolis, Atlanta-based F&M Investments and Vitalize in Westfield. The company plans to use the funding for growing go-to-market data science and engineering functions and expanding its current product line. FraudScope, an Atlanta-based AI platform that detects health care fraud, raised a $7M Series A round led by QED Investors, Brewer Lane Ventures and the local GRA Venture Fund.
Madison Hogan
July 30, 2020
AmericanInno
An Atlanta-based payments technology company is partnering with two of the biggest names in virtual payments to bring touchless checkout to CVS pharmacies across the country. InComm announced Thursday the company had released QR code technology customers can use to checkout via their PayPal or Venmo accounts without touching a keypad or signing a receipt. The technology will be implemented at all CVS stores, more than 8,000 in the U.S., nationwide in the fourth quarter this year. "In the midst of Covid-19, we have seen an incredible acceleration of digital payments and touch-free payments," Mark Britto, executive vice president and chief product officer of PayPal, said in a statement. "Companies of all types and sizes are looking for ways to maintain the safety of their customers and employees, especially through touch-free experiences like curbside pickup and enhanced online shopping. QR codes complement these and provide retailers an additional payment method that furthers this
Sarah Perez
July 1, 2020
TechCrunch
Venmo is going after small businesses. The PayPal-owned mobile payments app maker announced today it's piloting a new feature called Business Profiles that offers small sellers and other sole proprietors a more professional profile page on its platform, allowing sellers to share key business details like their address, phone number, email website, and more. By [...]
JD Alois
June 24, 2020
Crowdfund Insider
Click HERE to find out ⭐ PayPal's Move Into Crypto: Affirmation that Traditional Payment Players Can No Longer Ignore Digital Assets. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Jim Dallke
June 17, 2020
AmericanInno
Memento is an iOS and Android app that allows you to send money to someone, along with a recorded video message.
WIRED Staff
May 13, 2020
Wired
If you need to divvy up big expenses, these apps can handle the math--and the money.
Samuel Axon
May 7, 2020
Ars Technica
It's not the first time Facebook has wreaked havoc on iOS, either.
Josh Constine
February 24, 2020
TechCrunch
Allowance is going digital. Venmo has been spotted prototyping a new feature that would allow adult users to create a debit card connected to their account for their teenage children. That could potentially let parents set spending notifications and limits while giving kids more flexibility in urgent situations than a few dollars stuffed in a [...]
February 5, 2020
Global News
Venmo joined tech giants Twitter and YouTube, demanding New York-based Clearview AI to stop harvesting user images online.
Sarah Perez
January 21, 2020
TechCrunch
Venmo's newsfeed is about to get more interesting. Historically, the PayPal-owned app's users would comment on their transactions using text, or as is more common, emoji. But now the company is planning to add support for custom, animated stickers, as well. These animations were designed in partnership with Holler so they're unique to the Venmo [...]
Catherine LeClair
December 6, 2019
Wired
A while ago, a friend sent me 25 cents on Venmo. My relationship to the platform has never been the same.
Jay Peters
October 29, 2019
The Verge
Venmo announced today that it's launching Venmo Rewards, a rewards program for its physical Venmo debit card. The program will give you automatic cash back at certain retailers if you pay with the Venmo card.
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