Venmo
Exchanges
Money moves better when we're connected.
Founders
Andrew Kortina (Co-founder)
Iqram Magdon-Ismail (Co-founder)
Launch Date
Key Investors
IA Ventures
Founders Fund
Dave Morin
Zach Klein
Betaworks
and more
About
Venmo is a social payment platform that transforms financial transactions into connected experiences. Founded in 2009, this PayPal service has evolved from a simple peer-to-peer payment app to a comprehensive financial ecosystem. Users can send money to friends, pay businesses in-store and online, purchase cryptocurrency, and access financial products including debit and credit cards with cashback rewards. With teen accounts, business solutions, and gift options, Venmo combines practical money management with social interaction for tens of millions of users.
5
types of crypto available
1
USD to start journey
Use Cases
- Split Bills with Roommates - Easily divide and track shared expenses like rent, utilities, and groceries among roommates, with instant payment notifications and social feed for transparency.
- Group Trip Expense Management - Simplify travel costs by allowing friends to send/receive money for hotels, meals, and activities while traveling together, with the ability to add notes and emojis.
- Small Business Payments - Enable small businesses and freelancers to accept contactless payments from customers using QR codes and direct transfers, building a digital payment history.
- Charitable Giving Circles - Coordinate group donations to causes with friends, pooling funds through the app with social sharing features to inspire others to contribute as well.
Venmo's Crypto Offerings
- Users can buy, track, transfer, and sell crypto through the Venmo app
- Venmo supports 5 types of crypto
- Users can start their crypto journey for only $1
- When users buy or sell cryptocurrency on Venmo, Venmo will disclose an exchange rate and any fees
- Cryptocurrencies held in Venmo accounts are not deposits, are not eligible for pass-through FDIC insurance, and may lose value
Venmo for Business
- Venmo helps businesses take payments and engage customers
- Venmo offers a seamless checkout experience
- Businesses can accept Venmo payments
- Businesses can accept Venmo in apps & online
- Venmo provides ways for businesses to get paid
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