The Venmo Mafia

February 5, 2024
Tech Mafias

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.


Andrew Kortina and Iqram Magdon-Ismail

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

The Venmo Mafia has founded 15 companies, raising $537 million in total, as per Crunchbase data.

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List of all the amazing companies covered:

  • Bond Street
  • Sitetracker
  • Button
  • Maven
  • Nas Company (Formerly Nas Academy)
  • Highbeam
  • Spade
  • Ticketleap
  • Queenly
  • Betty Labs
  • Floor
  • Atlantic Money
  • Koxa
  • Grovara
  • Carry
  • Recast
  • 3RM
  • Plot
  • Bend
  • RankScience


Bond Street

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.


Nas Company (Formerly Nas Academy)

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 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.


Betty Labs

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.


Atlantic Money

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 Β£/€3 fee. All the way up to Β£/€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.


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