Although Venmo or SplitWise is an effective “debt mosque” tools, which require one person to pay a full bill and then ask for money from others, none of the bills stop at the moment of payment. European startup SenWhich reached such a product, now collected 3.5 million euros in the seed financing round led by Balderton Capital in London.
The joint payment application allows the group to divide the bill and pay its share directly from any bank account or portfolio they choose.
After leaving Tallinin, Estonia, and working in continental Europe since 2023, Cino will now use funding to expand in the United Kingdom
Under the Bumble and Booking.com) and Coo Lina Saleh (former University of Cornell), Cino seems to make waves between Gen Z, who hate “financial embarrassment”, among them joint bank accounts-to pay things like joint homes bills-driving on the Dinosaur method.
To use Cino, users connect their card to the mobile phone application where they get a virtual card. They can then join the joint payment groups where they set an adjustable dedicated division, such as a restaurant bill. The company said that any member of the group can pay for anything and everyone’s share is automatically deducted when going out.
All payments are shown transparently in the group feeding, and users can join or leave payment groups at any time.
Currently, all users of Cino users to work, but the company is also building a new feature where you can join directly through Apple Pay or Google Pay.
Cino claims that growth 100 % month per month in markets like Finland and Italy, and says that its customers use the application 17 times a month, on average, spend up to 3000 euros.
“The way to prepare it is similar to how WhatsApp works,” explained by Elena Chorlova, co -founder of CINA and CINO CEO, on a call with Techcrunch. “You just create groups, then export virtual cards. You can add people, remove people from that virtual card, as well as change the division rate.”
Cino’s trip started when Churilova was working in Bumble, and I started dividing the expenses with colleagues: “I tried every one tool possible to know how to make my weekend not in accounting exercises,” she said. “Then I had this like a moment of thinking, like,” Why no one builds a way to pay together? “
The application also benefits the effect of the network on a large scale, where each new user for Cino can invite 2-4 others for free during the first six months of joining.
“For a very long time, people before dividing the standard bill, tracing debt, and payment requests as the only way to manage joint expenditures-simply because there was no alternative,” said a Cino Greta Anderson investor at Balderton Capital. “Sino’s viral growth shows that there is an alternative that loves users.”
Connect Ventures and Tera Ventures also participated in this tour, along with the angels, including Barney Husey-Yeo (Cleo Founder).
