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While Venmo or Splitwise are efficaciously “ debt collector ” tools , which require one person to yield a full bill and then request funds from others , neither have snap bill - splitting at the moment of payment . European startupCino , which has get along up with just such a ware , has now leaven € 3.5 million in a germ - funding round led by London ’s Balderton Capital .
The genuine - sentence partake in payment app allows a grouping to split the bill and pay their share flat from whatever camber account statement or wallet they opt .
After emerge from Tallinn , Estonia , and operating in continental Europe since 2023 , Cino will now use the funding to elaborate to the U.K.
chair by co - founder and CEO Elena Churilova ( formerly of Bumble and Booking.com ) and COO Lina Saleh ( ex - Cornell University ) , Cino looks like lay down waves among Gen Z , who dislike “ financial slowness ” and among whom joint bank accounts — for payment of things like shared household bills — are move the means of the dinosaur .
To use Cino , user connect their card to the mobile app where they get a virtual card . They can then conjoin shared defrayment groups where they fix adjustable customs duty rip ratio , like those for a restaurant greenback . Any mathematical group phallus can pay for anything and everyone ’s portion is automatically deducted at check , say the troupe .
All defrayal appear transparently in the radical feed , and users can join or will payment groups at any time .
presently , all users need to be a Cino user for the app to workplace , but the party is also building a new feature where you could at once link up through Apple Pay or Google Pay .
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Cino take to have 100 % month - over - month increment in marketplace like Finland and Italy , and tell its customers use the app 17 metre a calendar month , on medium , spend up to € 3,000 .
“ The way to place it up is similar to how WhatsApp works , ” explained Churilova over a call with TechCrunch . “ You just produce radical , and then we emerge virtual cards . you could add people , take away people from that practical identity card , and also change the split ratio . ”
Cino ’s journeying began when Churilova was work at Bumble and started splitting expenses with colleagues : “ I tried every single creature out there possible to image out how to make my weekend not into accounting exercises , ” she articulate . “ Then I just had this moment of cerebration , like , ‘ Why is no one building a way to pay together ? ’ ”
The app also leverages the meshing effect to scale , as every unexampled Cino user can invite two to four others for complimentary within their first six months of joining .
“ For too long , multitude have accepted received placard - splitting , debt trailing , and repayment requests as the only way to handle portion out expense — simply because there was no alternative , ” Cino investor Greta Anderson at Balderton Capital said in a statement . “ Cino ’s viral development demonstrates that there is an choice which users love . ”
colligate Ventures and Tera Ventures also participated in this round , alongside angels , including Barney Hussey - Yeo ( beginner of Cleo ) .
