Venmo Net Worth (Updated 2025).

Venmo, a name now synonymous with peer-to-peer payments, was launched in 2009 by Iqram Magdon-Ismail and Andrew Kortina. The idea was born out of a personal need when Magdon-Ismail needed to pay Kortina back for a taxi ride, sparking the concept of a simple, user-friendly mobile payment app.

Venmo’s Current Net Worth (2025)

As of 2025, Venmo’s current net worth is estimated to be around $12 billion. This significant value reflects the company’s growth and success in the digital payments industry.

Venmo’s Career

Founded in 2009, Venmo initially started as a mobile app for splitting bills among friends. In 2013, it was acquired by Braintree, a company later bought by PayPal. Venmo has since grown into a leading mobile payment service, facilitating over $24 billion in transactions in 2019 alone.

Other Ventures

Venmo has expanded its services beyond peer-to-peer payments. It now offers a Venmo Debit Card, allowing users to spend their Venmo balance anywhere Visa is accepted. Additionally, Venmo has partnered with various companies to enable users to pay for goods and services directly from the Venmo app.

Assets

Venmo’s primary asset is its extensive user base, with over 70 million users as of 2021. The company also holds significant cash reserves, valuable data on consumer spending habits, and a strong brand recognition among millennials and Generation Z.

Annual Income

In 2020, Venmo generated $994 million in total payment volume, a 52% increase from the previous year. The company’s annual income has been consistently growing, reflecting its increasing popularity and usage among users.

Frequently Asked Questions about  Venmo

Frequently Asked Questions: Venmo Net Worth

1. What is Venmo?

Venmo is a mobile payment service owned by PayPal, allowing users to transfer money to others using a mobile app. It’s often used for splitting bills, paying friends, or receiving payments for goods and services.

2. How does Venmo make money?

Venmo generates revenue through various fees, including transaction fees for payments made with a credit card, instant transfers to a bank account, and cash advances. It also earns interest on the cash balances held in users’ Venmo accounts.

3. What is Venmo’s net worth?

As of the latest data, Venmo’s estimated net worth is around $35 billion.

4. Is Venmo safe to use?

Venmo uses encryption and secure servers to protect users’ financial and personal information. It also offers features like PIN codes and fingerprint/Face ID login for added security. However, like any financial service, it’s essential to stay vigilant against fraud and unauthorized transactions.

5. Can I use Venmo internationally?

Venmo is currently only available in the United States. You can use it to send and receive payments with other U.S.-based Venmo users, but international transfers are not supported.

6. What is the Venmo fee structure?

Venmo’s fees vary depending on the type of transaction. There are no fees for using Venmo to send money from a linked bank account, Venmo balance, or Venmo debit card. However, there are fees for using a credit card, instant transfers, and cash advances. For the most accurate and up-to-date fee information, visit the Venmo website.

7. Can I use Venmo to pay my rent?

Yes, many landlords and property management companies accept Venmo as a rent payment method. However, it’s essential to confirm with your specific landlord or property manager that they accept Venmo before using the service to pay your rent.

8. What is Venmo’s customer service like?

Venmo offers customer support through its website, including a help center with FAQs and troubleshooting guides. You can also contact Venmo’s customer service team via phone or email for assistance with specific issues. However, some users have reported long wait times and limited support options.

9. Can I use Venmo to pay for goods and services online?

Yes, Venmo offers a payment button that businesses can integrate into their websites, allowing customers to pay using their Venmo accounts. Additionally, some online retailers and marketplaces accept Venmo as a payment method.

10. What is the Venmo credit card?

The Venmo credit card is a cashback credit card issued by Synchrony Bank in partnership with Venmo. It offers cashback rewards on purchases, including 2% cashback on Venmo purchases, 3% on dining, and 1% on all other purchases. Cardholders can also use the card to pay friends or make purchases using their Venmo balance.