Splitwise

Based in Rhode Island, US, Splitwise Inc.Splitwise Inc. offers a digital solution for managing shared expenses. Founded in 2011 in Providence, Rhode Island, by Jonathan Bittner, Marshall Weir, and Ryan Laughlin, the company has evolved its offerings over time.Splitwise primarily offers a digital platform designed to streamline the process of tracking shared expenses among friends, family, roommates, and groups. The core functionality allows users to easily record expenses, maintain a clear overview of balances, and identify who owes whom. This service is particularly beneficial for situations like group trips or shared living arrangements, where financial transparency is essential in maintaining healthy relationships. Since its inception, Splitwise has evolved to include additional features such as receipt scanning, currency conversion, and insightful charts and graphs, enhancing the user experience and making financial tracking more efficient.Revenue generation for Splitwise is supported primarily through a freemium model, where users can access basic features at no cost while premium features are available through a subscription plan. The company's flagship offering, Splitwise Pro, includes advanced functionalities such as automated expense tracking and additional organizational tools that cater to users requiring more comprehensive financial management solutions. Clients consist of individuals and groups seeking to simplify financial interactions, particularly in scenarios involving frequent shared costs. Transactions typically occur as users link their accounts to facilitate payments or reimbursements directly through the platform, ensuring seamless financial exchanges.In April 2021, Splitwise Inc. The company aims to enhance its product offerings and improve user experience, while also targeting expansion into new markets across North America, Europe, and Asia in the coming years.

1. Series A

   Apr 28, 2021

   Amount

   $20M

   Investors

   Locked