Bestow

It appears there are two companies named Bestow. The first, related to bestowpayments.com, is a financial technology company focused on peer-to-peer payments. The second, found at bestow.com, is an insurance technology firm.

Regarding bestowpayments.com: Founded in 2019, this New York-based startup is developing a platform for peer-to-peer mobile payments. The service aims to function like digital cash for small transactions, such as tips and donations, allowing users to pay others in person without exchanging personal information like names, emails, or phone numbers. The technology is designed to be frictionless, using NFC to allow for a simple tap between devices (iOS or Android) to send payments. A key feature is that the recipient does not need the app to receive payment initially, reducing friction at the point of transaction. The company operates on a venture capital-backed model and has received funding from investors including Fourward Ventures and Nex Cubed.

Regarding bestow.com: This Dallas-based company, founded in 2017 by Melbourne O'Banion and Jonathan Abelmann, operates in the insurance technology sector. After initially launching as a direct-to-consumer digital life insurance provider, the company strategically shifted its focus. In 2024, it divested its life insurance carrier to Sammons Financial Group to concentrate exclusively on providing a vertical software-as-a-service (SaaS) platform for the life insurance and annuities industry. The platform provides end-to-end software solutions for insurance carriers, covering everything from new business application suites and underwriting to administration portals and data intelligence. This allows their enterprise clients, which include major carriers like Nationwide, Transamerica, and USAA, to digitize their operations, launch new products, and increase efficiency. The company generates revenue through its enterprise software offerings. Bestow has seen significant growth, marked by a $120 million Series D funding round in May 2025, co-led by Goldman Sachs Alternatives and Smith Point Capital.

Keywords: peer-to-peer payments, fintech, mobile payments, contactless transactions, tipping, donations, insurtech, SaaS, life insurance, digital platform