Nuked 
Hello, tech enthusiasts! Get ready for some exciting news from the world of finance and social interactions!
While we often rely on apps like Venmo and Splitwise for managing shared expenses, they only act as ‘debt collectors’—one person pays the whole bill, and everyone else pays them back later.
Enter Cino, a European startup that’s disrupting this process with a smart new app designed for real-time bill splitting. They’ve just secured €3.5 million in seed funding from London’s Balderton Capital to turbocharge their expansion.
Cino facilitates direct payments straight from your bank account or wallet, allowing groups to share costs seamlessly at the point of purchase. With roots in Tallinn, Estonia, Cino has gained traction across continental Europe since its launch in 2023 and is now setting its sights on the UK.
Leading the charge are CEO Elena Churilova, who previously excelled at both Bumble and Booking.com, and COO Lina Saleh from Cornell University. Together, they’re capturing the attention of Gen Z, a generation eager to avoid financial awkwardness and shun outdated methods like shared bank accounts.
Users can easily connect their cards to the Cino app and create virtual payment groups. This feature allows them to customize how costs are divided—perfect for occasions like dining out with friends. Whenever someone pays for a group expense, the app instantly deducts everyone’s share!
Moreover, Cino’s user experience is designed for flexibility. All payments are visible in the group feed, and users can join or exit groups whenever they choose. Currently, users must all have Cino accounts, but a future update will enable direct access via Apple Pay or Google Pay.
With an incredibly impressive month-on-month growth rate in countries like Finland and Italy, users are reportedly engaging with the app about 17 times monthly, spending up to €3,000!
Cino’s inception was fueled by Churilova’s firsthand encounters at Bumble where managing expenses with colleagues turned into an accounting nightmare. Her vision? To create a smooth, collaborative way to handle shared bills without the hassle.
As Cino diversifies its reach, this new payment model shows great promise in changing the way we approach shared expenses forever.
