# Venmo

> Venmo is a U.S. peer-to-peer payments app owned by PayPal, with a debit card and business profiles.

Source: https://www.neobank.wiki/wiki/venmo
Last updated: 2026-08-11
Categories: Financial technology, United States fintech, Payment platforms, Consumer neobanks, Public companies, Companies founded in 2009

**Venmo** is an American peer-to-peer payments app owned by [PayPal](/wiki/paypal). Known for social payment feeds and simple username transfers, it expanded into a debit card, crypto trading (in periods) and business profiles—sitting beside [Cash App](/wiki/cash-app) in U.S. consumer payments.[^ve1]

## History

Venmo was founded in 2009, acquired by Braintree and then by PayPal. It became culturally synonymous with splitting bills among younger Americans and later added banking-adjacent features through PayPal’s licences and partner banks.[^ve2]

## Founders

**Andrew Kortina** and **Iqram Magdon-Ismail** co-founded Venmo. After acquisition, product direction sat inside PayPal’s consumer organisation.

## Model

Venmo is a payments product under PayPal’s regulatory umbrella and partner-bank card programmes—not a standalone chartered [neobank](/wiki/neobank).

## Products

Products include P2P payments, Venmo Debit Card, instant transfers, business profiles and checkout integrations across PayPal commerce.

## Infobox

- **Type**: PayPal product
- **Founded**: 2009
- **Founders**: Andrew Kortina, Iqram Magdon-Ismail
- **Parent**: PayPal
- **Focus**: P2P payments

## Frequently asked questions

### What is Venmo?

Venmo is a U.S.

### When was Venmo founded?

Venmo was founded in 2009.

### Who founded Venmo?

Venmo was founded by Andrew Kortina, Iqram Magdon-Ismail.

### What type of company is Venmo?

Venmo is described as PayPal product in its neobank.wiki profile.


## References

[^ve1]: Venmo is PayPal's U.S. peer-to-peer payments app. — https://venmo.com/
[^ve2]: Venmo was acquired via Braintree by PayPal. — https://www.paypal.com/