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Venmo, a popular digital payment platform, was founded in 2009 by Andrew Kortina and Iqram Magdon-Ismail. The idea for Venmo stemmed from a desire to simplify and enhance the process of splitting expenses among friends. Kortina and Magdon-Ismail recognised the inconvenience of sharing bills and decided to create a user-friendly mobile app that would make sending and receiving money as easy as sending a text message.
Venmo quickly gained popularity for its simple and social payment features, allowing users to add playful descriptions and emojis to their transactions. In 2012, Venmo was acquired by Braintree, which later became a part of PayPal, solidifying its position as a leading mobile payment service in the United States.
The Venmo Mafia has founded 15 companies, raising $537 million in total, as per Crunchbase data.
PS: Are you a Venmo Mafia member interested in bringing your community together to invest in innovative ventures (and enjoy potential profits and other perks along the way)? Or perhaps you're part of another dynamic group that could be a fantastic source of startup investments? 😉
Learn more about us and join the waitlist here.
Founder: Peyton Sherwood
Venmo Role: Director of Engineering
Capital Raised: $411.5M
Investors: Spark Capital
Stage: Debt Financing
Bond Street is a startup focused on transforming small business lending through technology, data, and design.
Founder: Brett Cupta
Venmo Role: Business Development Consultant
Capital Raised: $183M
Investors: Energize Capital
Stage: Series D
Sitetracker is a SaaS platform for deploying, operating, and servicing critical infrastructure and technology.
Founder: Chris Maddern, Mike Dudas
Venmo Role: Head of Mobile, Head of Mobile BD
Capital Raised: $64.6M
Investors: Norwest Venture Partners
Stage: Series C
Button is the mobile commerce technology company that is powering a commerce-driven internet.
Founder: Shreyans Bhansali
Venmo Role: First employee to VP Engineering
Capital Raised: $25.1M
Investors: First Round Capital
Stage: Series A
Maven empowers the world’s experts to offer cohort-based courses directly to their audience.
Founder: Nuseir Yassin
Venmo Role: Software Engineer
Capital Raised: $23M
Investors: Lightspeed Venture Partners
Stage: Series A
Nas Company is on the mission to bring people together through technology.
Founder: Andrew Kortina
Venmo Role: Co-Founder
Capital Raised: $20M
Investors: Accel
Stage: Series A
Fin.com is a work insights platform that provides cross-applications and enterprises data insights for CX and operations teams.
Founder: Gautam Gupta
Venmo Role: Software Engineer
Capital Raised: $17M
Investors: Mayfield Fund
Stage: Debt Financing
Highbeam is banking that helps brand owners make smarter decisions.
Founder: Tess Bloch
Venmo Role: Strategy & Marketing
Capital Raised: $16.1M
Investors: Y Combinator
Stage: Series A
Spade enabels enriched transaction data you can build on.
Founder: Chris Stanchak
Venmo Role: Advisor
Capital Raised: $10.3M
Investors: MentorTech Ventures
Stage: Debt Financing
Ticketleap is an online ticketing platform enabling event organizers to sell, market and manage their events in one place.
Founder: Kathy Zhou-Patel
Venmo Role: Software Development Intern
Capital Raised: $9.4M
Investors: Y Combinator
Stage: Seed
Queenly is the the leading marketplace for formalwear.
Founder: Howard Akumiah
Venmo Role: Product intern
Capital Raised: $9.3M
Investors: Lightspeed Venture Partners
Stage: Seed
Betty Labs is a developer of a sports trivia application designed to provide life experiences.
Founder: Jenny Stanchak, Chris Stanchak
Venmo Role: Software Engineer, Advisor
Capital Raised: $8.5M
Investors: Bessemer Venture Partners
Stage: Series A
Loveseat is the returned goods marketplace. New in-box furniture & appliances + more for the home.
Founder: Chris Maddern
Venmo Role: Head of Mobile
Capital Raised: $8M
Investors: 6th Man Ventures
Stage: Series A
Floor is an app that aims to make non-fungible tokens (NFT) more accessible and understandable.
Founder: Neeraj Baid
Venmo Role: iOS Engineering Intern
Capital Raised: $7.5M
Investors: Index Ventures
Stage: Seed
Atlantic Money helps you send money abroad – always at the live exchange rate for just a flat £/€3 fee. All the way up to £/€1 million.
Founder: Camellia George
Venmo Role: Head of Product
Capital Raised: $6.4M
Investors: Crosslink Capital
Stage: Seed
Koxa is an API platform that connects accounting software.
Founder: Peter Groverman
Venmo Role: Alpha Tester
Capital Raised: $5.8M
Investors: Ben Franklin Technology Partners of Northeastern Pennsylvania
Stage: Grant
Grovara is the 1st B2B Global Marketplace for US Wellness Brands, connecting natural and organic brands with international retailers.
Founder: Alejandro Roman
Venmo Role: Senior Software Engineer
Capital Raised: $4.5M
Investors: Hustle Fund
Stage: Seed
Carry helps business owners and modern professionals build wealth.
Founder: Thomas Vladeck
Venmo Role: Marketing Analytics
Capital Raised: $4.5M
Investors: Lerer Hippeau
Stage: Seed
Recast is a media measurement platform developer for a wasted advertising budget.
Founder: Jan Rosen
Venmo Role: Director of Software Engineering
Capital Raised: $3M
Investors: Distributed Global
Stage: Seed
3RM offers to develop tooling that will enable any web3 participant to meaningfully contribute to their relationships.
Founder: Thomas Chang Min Jeon
Venmo Role: Growth Engineer
Capital Raised: $2.3M
Investors: Looking Glass Capital
Stage: Seed
Plot is a modern marketing teams use Plot's collaborative visual canvases to plan, calendar, and produce incredible customer experiences together.
Founder: Ted Power
Venmo Role: UX Designer
Capital Raised: $2M
Investors: Great Circle Ventures
Stage: Pre-Seed
Bend is a financial technology company that provides corporate cards built for climate-friendly businesses.
Founder: Dillon Zhang Forrest
Venmo Role: Programming Intern
Capital Raised: $1.9M
Investors: Y Combinator
Stage: Seed
RankScience is a SEO Split Testing Platform & Services for Data Driven Companies.