A stealthy startup by the name of Quemulus is emerging in Bellevue with grand plans to take on the likes of PayPal, Dwolla and other mobile payment companies.
That’s a tall order, but Quemulus’ Elizabeth Willett believes her company can make inroads by integrating seamlessly with social networks so users can easily transfer money to friends or businesses.
At this stage, the company is only saying that its goal is to create easy person-to-person; person-to-group; and person-to-business transactions. Asked how it plans to stand out from bigger rivals, Willett said that the company’s “user interface and the aspect of social commerce will be our secret sauce.”
In addition to Willett— a former manager at Mars Inc. — the executive teams consists of Kelly Ogilvie, the former CEO of Blue Marble Energy and past director of government relations at the Greater Seattle Chamber Of Commerce, and CEO Jason Conway, the former president of FNX Studios and founder of Salient6.
The startup plans to introduce its service — currently in private trials — later this summer or early this fall. According to a recent SEC filing, it has raised $100,000 of a $500,000 round from angel investors.