Founder(s): Andrew Kortina & Iqram Magdon-Ismail
Description: Venmo allows individuals to pay and request money from friends and family to make bill splitting easier than ever before.
Venmo is an app that allows individuals to pay and request money from friends and family to make bill splitting easier than ever before. One of the largest and most successful fintech startups in the US, it is often cited on TV shows and films and has a market valuation of $38 billion.
In the simplest terms, Venmo provides users with a more social way to pay friends, with the quick touch of the app, there is no cash handed over and speed is of the essence!
Venmo helps users to easily:
- Split a lunch bill
- Pay half of a taxi fare
- Send your roommate your half of the rent
Venmo can also be used to make purchases with authorised merchants, such as:
- By using the Venmo Mastercard Debit Card anywhere in the United States where Mastercard is accepted
- By using Venmo as a payment method in authorised partner apps or mobile websites
- By using in-store QR codes to complete purchases with Venmo
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