Ribbon originally launched as a payments infrastructure company that lets online merchants embed a full checkout experience on their own websites, blogs, and social channels with just a snippet of code. To date, roughly 10,000 merchants have implemented Ribbon and the platform has attracted about 150,000 unique buyers to its checkout pages, with retailers such as Target using it for Facebook campaigns. Building on its merchant success, Ribbon is now creating a consumer-facing, peer-to-peer payments product that will allow anyone to send money via a simple web or mobile web link—essentially a no-app, ‘web-based Venmo.’ The forthcoming service will support major card networks (Visa, MasterCard, Discover, AmEx) and promises immediate cash-outs and fewer account freezes than traditional providers like PayPal. This expansion follows challenges Ribbon faced in executing true in-stream payments on Twitter after the platform restricted its initial integration. Ribbon’s current roadmap aims to launch the consumer service early next year, broadening the company’s footprint beyond merchant checkout to direct person-to-person transfers. The startup is financed with $1.75 million from AngelPad, Sierra Ventures, InterWest Partners, Draper Associates, and other investors, giving it resources to push into this new market.

Total raised

$2M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2013