PayPal has hired Peggy Mangot, a Wells Fargo former senior vice president, to its venture capital team.

Mangot led the Wells Fargo development of Greenhouse, a fee-free mobile banking app aimed at younger users, according to CNBC.

Mangot, who joined Wells Fargo in 2016, previously founded the micro-investing start-up SparkGift and also worked for Google as the head of the payments and commerce partnerships team.

San Jose-based PayPal posted record quarterly results last month as the coronavirus pandemic accelerated e-commerce and digital payments trends. PayPal's $231 billion market capitalization is larger than every U.S. bank with the exception of JPMorgan Chase.