WePay
STATUS: Acquired/Merged
FOUNDING YEAR: 2008
LOCATION: United States
Last Update: 01/05/2020
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About
WePay, a Chase company, helps online platforms increase revenue through integrated payments processing under their own name.The company has uniquely enabled more than 1,000 platforms including Constant Contact, GoFundMe, and Meetup to incorporate payments without compromising on their user experience or taking on risk and regulatory exposure. In a mobile world, WePays integrations with Apple Pay and Android Pay for the Web help ensure high transaction conversions, while the companys mobile point of sale (mPOS) solution allows platforms to seamlessly handle in-person payments in addition to online payments. WePay also offers a wide range of add-ons to support platforms specific needs.WePay has earned Inc. 500 recognition as one of the fastest growing private US companies. It has also earned recognition on multiple Best Places to Work lists.Learn more at wepay.com, or join us at wepay.com/careers.
MEDICI Analysis
WePay was acquired by JP Morgan in October 2017. WePay is an online payment service provider in the United States. WePay's payment API focuses exclusively on platform businesses such as crowdfunding sites, marketplaces and small business software. Through this API, WePay gives these platforms a way to offer credit card acceptance to their users while protecting themselves from losses due to fraud with included risk management technology
Focus
PRODUCTS & SERVICES
Money transfer. It aims to create best possible payment experience for its clients which aims to address various issues like multiple payments and etc.
REVENUE MODEL
WePay charges 2.9% plus 30 cents for each credit card transaction and 1% plus 30 cents in fees for every bank (ACH) payment.
MAIN CLIENTS
Care.com
Constant Contact
GoFundMe
Meetup
Wiz Events
GiveForward
Fundly
Classy
YouCaring
Fusesport
Fundrazr and others
EXISTING PARTNERSHIPS
Aplos Software - a web-based nonprofit software company
to help nonprofits and faith-based organizations accept online donations.Pay It Square,1000 memories.
Traction
NUMBER OF TRANSACTIONS:
1.5 M
People
BOARD MEMBERS AND ADVISORS
Peter Bell
Osama Bedier
David Wu
Rasmus Lerdorf
Porter Gale
NUMBER OF EMPLOYEES
51-200
INVESTORS:
Momentum
FUNDED
YES
NUMBER OF FUNDING ROUNDS
4
TOTAL FUNDING
$74.2 M
FUNDING SERIES
SERIES A · $1.7 M · ---
SERIES B · $17.5 M · ---
SERIES C · $55 M · ---
LISTED
NO
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