The story
After the Venmo mobile payment system. According to co-founder Andrew Kortina, the name was formed as a blend of Latin vēndere (“to sell”) + mobile, for the following reasons: We were exploring the Latin root vendere “sell” and mo for mobile, but purely as a means to get to a name that (1) was short, 5-6 letters, (2) could be a verb, (3) didn’t have a unintuitive spelling, and (4) was cheap. Venmo was available on GoDaddy and met the important criteria, so we grabbed it.
Etymology from Wiktionary, CC BY-SA 4.0.