About Venmo
Venmo is a company based in New York (United States) founded in 2009 was acquired by PayPal in November 2021.. Venmo has raised $1.2 million across 4 funding rounds from investors including PayPal, Accel and Lerer Hippeau. Venmo offers products and services including Venmo App, Venmo Debit Card, and Venmo Credit Card. Venmo operates in a competitive market with competitors including MoneyGram, Verse, Splitwise, NALA and Papara, among others.
- Headquarter New York, United States
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Sectors
TechnologyFinancial Services
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Phone
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Website
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Social
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- Legal Name Paypal, Inc.
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Products & Services of Venmo
Venmo offers a comprehensive portfolio of products and services, including Venmo App, Venmo Debit Card, and Venmo Credit Card. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for social money transfers and payments to friends and businesses.
Card for spending balance with cash back offers and no monthly fees.
Card offering cash back on purchases with no annual fee.
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Software Development Team
374 people
Leadership Team
144 people
Sales and Marketing
97 people
Data Analysis and Operations Team
76 people
Product Management Team
56 people
Senior Team
36 people
Finance and Accounting
35 people
Operations Team
34 people
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Funding Insights of Venmo
Venmo has successfully raised a total of $1.2M across 4 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Last Round
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First Round
First Round
(07 Dec 2009)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2012 | Amount | Series B - Venmo | Valuation |
investors |
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| Aug, 2011 | Amount | Series A - Venmo | Valuation |
investors |
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| May, 2010 | Amount | Seed - Venmo | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Venmo
Venmo has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include PayPal, Accel and Lerer Hippeau. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are offered to startups by NEA.
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Founded Year | Domain | Location | |
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Accel is recognized as a leading venture capital firm.
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Founded Year | Domain | Location | |
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VC firm investing in seed and early stage companies in the US
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Venmo
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Venmo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Venmo Comparisons
Competitors of Venmo
Venmo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as MoneyGram, Verse, Splitwise, NALA and Papara, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Digital wallet for consumer and business payments is provided.
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| domain | founded_year | HQ Location |
Expenses are shared and tracked among friends via mobile app.
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| domain | founded_year | HQ Location |
Cross-border remittances are enabled online for individuals worldwide.
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| domain | founded_year | HQ Location |
Money transfers and bill payments are enabled via mobile wallet.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Venmo
Frequently Asked Questions about Venmo
When was Venmo founded?
Venmo was founded in 2009.
Where is Venmo located?
Venmo is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Venmo a funded company?
Venmo is a funded company, having raised a total of $1.2M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.2M, raised on Dec 07, 2009.
What does Venmo do?
Venmo was founded in 2009 and is headquartered in New York, United States, within the fintech sector. Operations focus on a mobile application that supports digital wallet services for peer-to-peer money transfers, in-store transactions, online purchases, and bill settlements. Features also allow splitting of shared costs for activities like meals or events. The app is accessible on both iOS and Android platforms.
What products or services does Venmo offer?
Venmo offers Venmo App, Venmo Debit Card, and Venmo Credit Card.
Who are Venmo's investors?
Venmo has 9 investors. Key investors include PayPal, Accel, Lerer Hippeau, Braintree, and NEA.
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