PayPal Cofounder Max Levchin Tells Us Why He Invested In A New Payments Startup Called WePay

Max Levchin

Photo: flawedartist

WePay is a startup that “helps groups collect and manage money.” It launched yesterday.The reason we care is that one of WePay’s investors is a guy who knows something about the online payments industry — PayPal cofounder Max Levchin.

(He sold that little outfit for a cool $1.5 billion in 2002).

We asked Max what WePay is, and why he invested. He answered:

It’s a specifically group-centric money collection and money management solution. I’d always felt that PayPal only took those types of services so far, so I invested in someone inspired to drive it to the next level as their primary focus. Pretty complex and heterogeneous, but still huge market, very smart people, payments — all my favourite things :)  

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