Venmo for Private Capital - the only purpose-built financial infrastructure that eliminates the effort, pain, friction, and security risks for GPs and LPs raising and deploying capital.
Verivend solves 3 main problems for the Private Markets:
1. GPs & Investment Sponsors spend countless hours and costly labor manually raising and deploying capital.
2. The status quo of funding capital commitments and receiving distribution payments is a terribly manual process full of friction for Investors/LPs.
3. Exchanging sensitive bank account information adds unnecessary risks and fraud, resulting in an average of $809,000 defrauded from investors EVERY capital call scam.
Solution (product or service)
The only purpose-built payments infrastructure for the private markets. Verivend is its own payments network built from the ground-up (not on top of Stripe, etc.) that makes raising and deploying capital as simple, secure, and seamless as Venmo for GPs and LPs.
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
SaaS+
- Annual subscription tiers for GP customers based on $ volume of incoming and outgoing transactions and unique # of LPs
- Interest income from banking partners
