Verse is a mobile payments app that enables peer-to-peer transfers and social payment features for primarily millennial users. The company operates payment flows without relying on traditional bank infrastructure and emphasizes social aspects of payments (many users publish transaction concepts and use emojis). Verse obtained a payments license from the Bank of Lithuania, allowing it to operate across the European Economic Area. The platform reports more than 500,000 users, an eightfold increase in monthly transacting users since Bernardo Hernández became CEO, and a total transacted volume of €150 million over the last 18 months. Product roadmap includes a QR-code payments feature to enable merchant and person-to-person payments, and planned expansion into Italy, France and Portugal. Verse states it does not position itself as a bank but as a fintech alternative for day-to-day money management. Verse is a startup focused on peer-to-peer payments. The article identifies its core product as a p2p payments service. TechCrunch reports Verse grabbed $20.5M. The capital is described as intended to take its p2p payments play beyond Europe. The article does not provide operating metrics, product specifics, or details on investors. Additional strategic or financial details are not included in the piece. Verse is a mobile social peer-to-peer payments app that aims to be the Venmo of Europe, letting users send money by selecting a phone contact and typing an amount. The company was incorporated in San Francisco, relocated most of its team to Barcelona, and now operates in 16 European markets. Verse reports around 550,000 users across Android and iOS and says typical peer payments are €25–€30. It holds customer funds in local bank accounts and settles euro transactions via SEPA where it lacks a local account, and uses blockchain technology for its main ledger (not for moving money). Verse does not charge for p2p payments within the same currency but applies a 1.5–2% fee for currency exchanges. The company plans to use the new funding to expand its team, with hiring focused on product development to accelerate growth.

Total raised

$37M

Funding rounds

3

Latest round

Seed

Latest activity

Jun 2019