Loading organizations...
§ Private Profile · Providence, RI, USA
Splitwise is a technology company.
Splitwise offers a digital platform that simplifies the process of tracking and settling shared expenses among individuals and groups. The core product provides a centralized system for users to log expenditures, manage group bills, and utilize specialized "fairness calculators" designed to mediate shared costs objectively. This service is accessible across mobile devices and the web, storing all financial data in the cloud to ensure continuous, synchronized access for all participants.
The company was founded in 2011 by Jonathan Bittner, Ryan Laughlin, and Marshall Weir. They conceived Splitwise from the prevalent challenge of fairly dividing expenses among friends and family, initially recognizing a specific need for rent splitting before expanding the platform's scope to cover diverse shared costs. Bittner, a former astrophysics graduate student, and Laughlin, focused on development, aimed to create a quantitative solution for often contentious financial divisions.
The platform primarily serves individuals and groups such as roommates, travelers, couples, and friends seeking to manage their collective finances transparently. Splitwise operates with a foundational vision to foster fairness and simplify financial relationships, thereby reducing the friction and potential interpersonal strain associated with shared expenses. Its ongoing development focuses on evolving intuitive tools that promote equitable expense management for everyday interactions.
Splitwise has raised $26.0M across 3 funding rounds.
Splitwise has raised $26.0M in total across 3 funding rounds.
Splitwise is a financial technology company that builds a user-friendly platform to simplify the management of shared expenses among friends, family, roommates, couples, and coworkers. Its core product is a mobile and web application that helps users track, split, and settle shared bills and IOUs transparently and fairly. By organizing all shared expenses in one place, Splitwise reduces the social friction and awkwardness often associated with money matters. The platform serves millions globally, facilitating billions of dollars in transactions and supporting use cases ranging from household expenses to group travel[1][2][5].
Splitwise was founded in February 2011 by Jonathan Bittner, Ryan Laughlin, and Marshall Weir in Providence, Rhode Island. The idea emerged from the founders’ personal experiences with the common challenge of managing shared expenses, especially among roommates and couples. Initially launched as "SplitTheRent," the app focused on simplifying rent splitting but quickly expanded to cover all types of shared costs. Early traction came from its intuitive interface and ability to reduce conflicts over money, leading to steady growth and integration with payment platforms like Venmo in 2013[1][3][4].
Splitwise rides the growing trend of fintech solutions aimed at improving interpersonal financial management and transparency. As shared living arrangements, group travel, and collaborative spending increase globally, the need for tools that reduce financial friction is rising. The timing is favorable due to increased smartphone penetration, digital payment adoption, and a cultural shift toward shared economies. Splitwise influences the ecosystem by setting a standard for expense-sharing apps, fostering financial fairness, and complementing payment platforms rather than competing directly with them[2][5].
Looking ahead, Splitwise is positioned to expand its global footprint and deepen its integration with financial services, potentially incorporating more direct payment features as seen in its 2024 partnership with Visa’s Tink for bank transfers. Trends such as the resurgence of group travel post-pandemic and the increasing complexity of shared financial arrangements will likely drive demand. Splitwise’s mission to "evaporate awkward conversations about money" remains highly relevant, and its influence may grow as it evolves into a broader platform for interpersonal finance management[5][6].
In summary, Splitwise has transformed a common social challenge into a scalable fintech solution, leveraging technology to foster fairness and ease in shared financial responsibilities.
Splitwise has raised $26.0M across 3 funding rounds. Most recently, it raised $20.0M Series A in April 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2021 | $20M Series A | Insight Partners | Andreessen Horowitz, Bullpen Capital, Great Oaks Venture Capital, PAT Kenealy, Saturn Partners, Scott Banister | Announced |
| Oct 1, 2016 | $5M Series U | — | Benchmark, Bowery Capital, Bullpen Capital, Lerer Hippeau, RRE Ventures, Scale Venture Partners | Announced |
| Dec 1, 2014 | $1M Seed | — | Andreessen Horowitz, Audrey Capital, Baseline Ventures, Battery Ventures, Bessemer Venture Partners, Brainchild, Catapult Capital, Chicago Ventures, Cowboy Ventures, Matt Ocko, Digital Currency Group, Foundry Group, Great Oaks Venture Capital, Long Journey Ventures, Maveron, Moderne Ventures, Morado Venture Partners, Ridge Ventures, Saturn Partners, Science, Semble Ventures, Seven Seven SIX, The HIT Forge, ThirdLove, True Ventures, Uncork Capital, Rick Lewis, Winklevoss Capital, Y Combinator, Cheryl Cheng, JAY Adelson, Philip Kaplan, Rashaun Williams, Scott Banister | Announced |
Splitwise has raised $26.0M in total across 3 funding rounds.
Splitwise's investors include Insight Partners, Andreessen Horowitz, Bullpen Capital, Great Oaks Venture Capital, Pat Kenealy, Saturn Partners, Scott Banister, Benchmark, Bowery Capital, Lerer Hippeau, RRE Ventures, Scale Venture Partners.