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Splitwise, a Providence, R.I.-based interpersonal finance app for sharing expenses with friends and family, raised $20M in Series A funding.
The round was led by Insight Partners. In conjunction with the funding, Boris Treskunov, Principal at Insight Partners, will join the Splitwise Board of Directors.
The company will use the funding to grow its team, accelerate global customer growth, and create new partnerships with fintech and financial services platforms.
Led by Jon Bittner, CEO and Co-Founder, Splitwise provides an app which allows users to track balances and organize payments. It is used by group travelers, allowing them to effectively split costs accrued over a trip.
Boris-treskunovJon-bittnerInsight-partnersSplitwise-boardஜான்-பிட்னர்நுண்ணறிவு-கூட்டாளர்கள்Splitwise raises $20M Series A to help everyone in the world divvy expenses
This morning Splitwise, a Providence, Rhode Island-based startup, announced that it has closed a $20 million Series A.
The company builds consumer fintech software that helps users split expenses. But Splitwise isn’t a Venmo or Paytm clone. Instead of helping users wire money to their pals, the company leaves the transference of money to others. Splitwise simply wants to help reduce the stress and awkwardness that money puts on relationships of all sorts, CEO Jon Bittner told TechCrunch in an interview.
Roommates, partners, married couples with distinct finances, or just friends going on skiing trips all have to deal with shared expenses. And tracking down your friends or spouse or roomie for their cut of a cost is zero fun. Splitwise’s software makes it easier to track and come to terms with shared expenses. By keeping those costs in the open, and who owes whom, the app wants to keep debts clear so th
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