Venmo crosses $1B monthly transfers for the first time

February 16, 2016
Aaron Polmeer

By Napier Lopez

Venmo Feed

Venmo just hit an important milestone: the company today announced it crossed $1B worth of transfers in a single month for the first time in January 2016. Perhaps more notable than the volume of money being thrown around is the speed of its expansion; that number is 2.5 times larger than January of 2015, and 10 times larger than the year before that. We reported that the company transferred 1.6B in Q2 2015, but the company today announced that one third of its transfers last year occurred in its last three months, likely due to a holiday surge. PayPal, which owns…

This story continues at The Next Web

Source:: The Next Web

      

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