# Venmo

> Venmo is the mobile app that made splitting a dinner bill feel like sending a text. Founded in 2009 and now owned by PayPal, it lets people send, request, and spend money in seconds, wrapped in a social feed of emoji-tagged payments. What started as a way for friends to pay each other back has grown into a payments network of roughly 90 million-plus U.S. accounts, a debit and credit card program, in-store checkout, and crypto - generating about $1.7 billion in annual revenue.

- **Founded:** 2009
- **Headquarters:** New York, United States
- **Founders:** Andrew Kortina (Co-founder), Iqram Magdon-Ismail (Co-founder)
- **Team size:** ~700 employees (Apollo estimate); part of PayPal's larger workforce
- **Products:** Peer-to-peer payments, Venmo Debit Card, Venmo Credit Card, Pay with Venmo, Crypto
- **Notable:** Popularized peer-to-peer mobile payments in the U.S. and turned 'Venmo' into a verb, Grew to roughly 90 million-plus U.S. accounts, Crossed $1 billion in annual revenue, reaching an estimated ~$1.7 billion

## Products & services

- **Peer-to-peer payments** — Send, request, and split money with friends using just a username, phone number, or QR code, with an optional public feed and emoji payment notes.
- **Venmo Debit Card** — A Mastercard debit card tied to the Venmo balance, with cashback offers and ATM access.
- **Venmo Credit Card** — A Visa credit card issued with Synchrony offering customized cashback categories, managed in-app.
- **Pay with Venmo** — Online and in-store checkout that lets merchants accept Venmo, including QR code payments.
- **Crypto** — Buy, sell, hold, and transfer cryptocurrencies including Bitcoin and Ethereum inside the app.
- **Teen Account** — A parent-supervised account and debit card for 13-17 year olds with parental controls.
- **Business profiles** — Profiles that let small businesses and creators accept Venmo payments and get discovered.
- **Instant Transfer** — Move your Venmo balance to a linked bank account or card within minutes for a fee.

## Achievements

- Popularized peer-to-peer mobile payments in the U.S. and turned 'Venmo' into a verb
- Grew to roughly 90 million-plus U.S. accounts
- Crossed $1 billion in annual revenue, reaching an estimated ~$1.7 billion
- Processed an estimated $300 billion-plus in annual total payment volume
- Expanded merchant acceptance of Pay with Venmo by about 50% year over year in early 2025
- Built a full consumer finance stack - debit card, credit card, teen accounts, and crypto - from a single P2P app

## Latest updates

- **2025-04** — Venmo revenue grew about 20% year over year to a ~$1.7B annual run rate, with debit card volume and Pay with Venmo checkout among the fastest-growing lines.
- **2025-01** — Merchants accepting Venmo and 'Pay with Venmo' volume both grew more than 50% year over year as PayPal pushed monetization.
- **2024-01** — Venmo expanded crypto features, letting users transfer crypto to other Venmo/PayPal accounts and external wallets.
- **2023-05** — Launched the Venmo Teen Account and debit card for 13-17 year olds with parental controls.

## Links

- Website: https://venmo.com
- LinkedIn: http://www.linkedin.com/company/venmo
- Twitter/X: http://twitter.com/venmo
- YouTube: https://www.youtube.com/venmo
- Instagram: https://www.instagram.com/venmo/
- Facebook: https://www.facebook.com/venmo
- TikTok: https://www.tiktok.com/@venmo

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Profile page: https://yespress.io/venmo
Published by YesPress — https://yespress.io
Last updated: 2026-08-14