FinovateSpring 2014 / WePay
Presenter Profile:
How they describe themselves: WePay is a payment company built for platform businesses such as online marketplaces, crowdfunding websites, and small business software companies. WePay offers their platform customers complete protection from fraud risk and compliance burdens while delivering the flexibility to create seamless user experiences.
How they describe their product/innovation: Only WePay’s patent-pending risk engine technology, Veda, stitches together a variety of novel data sources to better understand a platform’s users. To fight fraud, Veda combines proprietary data from platforms, data from WePay’s own transactional graph, and social data from sources such as Facebook, Twitter, and Yelp.
Product Distribution Strategy: Direct to Business (B2B), through other fintech companies and platforms
Contacts:
Bus. Dev. & Sales: Tyler Gaffney, VP Sales, tyler.gaffney@wepay.com
Press: April Rassa, Director of Communications & Content, april.rassa@wepay.com
Website: wepay.com
Blog: blog.wepay.com
Twitter: @wepay
HQ: Palo Alto, CA
Founded: August 2009
Product Demoed: Veda Risk Engine/Risk API
Product Launch: April 2014
Metrics: $35M in venture funding, 55 employees, over 400,000 platform partners, $500M+ annual payment volume
Presenters: John Canfield (VP Risk Management),
April Rassa (Director of Product Marketing)
- Key Executives
Bill Clerico (CEO & Co-Founder), Rich Aberman (VP Product & Co-Founder), John Canfield (VP Risk), Susan Dunn (General Counsel), Tina Hsiao (VP Marketing), Tyler Gaffney (VP Sales), Michael La Guardia (VP Customer Success)
Key Stats
- Key Board Members
Bill Clerico (CEO & Co-Founder, WePay), Rich Aberman (VP Product & Co-Founder, WePay), Christopher Howard (Ignition Partners), Paul Purcell (Continental Investors), Peter Bell (Highland Capital Partners), Osama Bedier (Independent)
- Key Investors
August Capital, Continental Investors, Highland Capital Partners, Ignition Partners, Max Levchin, SV Angel, Webb Investment Network, 500 Startups, Y Combinator
- Key Customers
WePay has processed transactions for more than 250,000 customers and over 300 partners. Platform businesses such as Fundly, GoFundMe, Constant Contact, Care.com, CustomMade, InvoiceASAP and more have chosen WePay’s API to handle their payments.