Splitwise
Splitwise is a consumer fintech app that helps friends, roommates, couples, and travel groups track, split, and settle shared expenses across iOS, Android, and web, monetizing via a Pro subscription and a debit card/wallet service.
- Company typePrivate
- Founded2012
- HeadquartersProvidence, United States
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Splitwise does
Splitwise is a consumer fintech company that builds a shared-ledger application for tracking and settling informal debts among friends, family, roommates, couples, and travel groups. Founded in 2012 and headquartered in Providence, Rhode Island, the platform spans iOS, Android, and web and supports 100+ currencies and 7+ languages. The core product is free; users can add groups, log expenses, split bills equally or by percentage/shares/itemization, and run an algorithmic debt-simplification routine to minimize the number of payments needed to settle group balances.
The technology stack combines a cloud-synced shared ledger with a third-party OCR pipeline for receipt scanning and open-banking integrations (Tink in Europe, Plaid for US/EU account linking) that underpin the newer Splitwise Pay wallet and debit card issued in partnership with Coastal Community Bank. Splitwise also exposes a public API (dev.splitwise.com) and integrates with PayPal, Venmo, Paytm, and Zapier, while authenticating users via Google login in addition to email/phone.
Splitwise operates a product-led growth model on a freemium foundation. The primary revenue stream is the recurring Splitwise Pro subscription (monthly/annual) unlocking receipt scanning, charts, currency conversion, search, and an ad-free experience; a secondary stream is transaction and interchange revenue from Splitwise Pay and the Splitwise Card. Distribution is self-serve via mobile app stores and web, with growth driven by word-of-mouth and earned media (FT, NY Times, Business Insider). The company has raised approximately $30.2M in equity across six rounds through April 2021, with Insight Partners leading the $20M Series A, and is privately held with no parent entity.
Splitwise firmographics
Firmographics- Name
- Splitwise
- Legal name
- Splitwise Inc.
- Website
- https://splitwise.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Splitwise is a consumer fintech app that helps friends, roommates, couples, and travel groups track, split, and settle shared expenses across iOS, Android, and web, monetizing via a Pro subscription and a debit card/wallet service.
- Ownership category
- akta.pro rank
Splitwise industry classification
Industry- Product category
- Personal Finance / Expense Management
- akta.pro primary industry
- Marketplace & Platform Payments (Split Payments, Sub-merchants) (FSAMACAG)
Keywords
Where Splitwise is headquartered
LocationHeadquarters
- HQ city
- Providence
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Splitwise business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Splitwise Pro Subscription: Monthly or annual subscription offering premium features including receipt scanning, currency conversion, charts and graphs, increased cloud storage, and an ad-free experience. Price varies by subscription date, country, and local taxes. Subscriptions auto-renew unless canceled 24 hours before billing period ends.
- Splitwise Pay Financial Services: Digital wallet and debit card services with potential interchange revenue from card transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Free Tier - Core expense tracking features |
| Subscription | Monthly | Pro Tier - Premium features |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Splitwise product offering
Product offeringCore offering
Splitwise is a shared ledger mobile and web application that helps individuals track, split, and settle shared expenses with friends, family, roommates, partners, and travel groups. It offers a free core tier on iOS, Android, and web with a premium Splitwise Pro subscription that adds receipt scanning, currency conversion, charts, and an ad-free experience, plus a digital wallet and debit card service (Splitwise Pay) offered in partnership with Coastal Community Bank.
Product overview
Splitwise offers a core expense-splitting and shared ledger application (Splitwise) that is free across iOS, Android, and web. The product portfolio includes Splitwise Pro as a premium add-on providing receipt scanning, analytics, and currency conversion features. Payment functionality is delivered through Splitwise Pay (wallet and debit card) in partnership with Coastal Community Bank, enabling in-app money transfers. Pay by Bank through Tink enables open banking payments. The Plates app (iOS) handles restaurant bill splitting at the table with Splitwise integration. The platform supports 100+ currencies, 7+ languages, and integrates with PayPal, Venmo, Paytm, and Zapier.
Differentiator
Problem solved
Functional benefit
Brands
- Splitwise Pro: Paid premium subscription service offering advanced features including receipt scanning, charts and graphs, currency conversion, and ad-free experience.
- Splitwise Pay
- Splitwise Card
- Splitwise Plates
Products and services
- Splitwise Free core shared ledger application for iPhone, Android, and web that lets individuals and groups track shared expenses, split bills equally or unequally, simplify debts, and view balances across friends, family, housemates, and travel companions.
- Splitwise Pro Premium monthly or annual subscription that adds receipt scanning (OCR), itemization, charts and graphs, expense search, currency conversion, default split saving, early access to new features, and a fully ad-free experience to the core Splitwise app.
- Splitwise Pay Digital wallet payment service offered in partnership with Coastal Community Bank that lets users send and receive money, make payments, deposits, and withdrawals directly within Splitwise.
- Splitwise Card Splitwise-branded debit card linked to the Splitwise Pay wallet service, enabling card-based transactions tied to the user's Splitwise balance.
- Plates iOS companion app for splitting restaurant bills at the table, with receipt scanning that integrates with Splitwise to save each person's share as an IOU.
Quantifiable outcome
- Pay by Bank feature increased transaction volume by 150% in the UK market
- +1 more outcomes
Companies that use Splitwise
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Splitwise technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
AI capability2 records
Feature6 records
Splitwise partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and secondary.
- TinkcoreSplitwise partnered with Tink to expand its Pay by Bank feature to France, Germany, and Austria, enabling direct app-integrated bank transfers using open banking technology. The expansion follows strong growth in the UK where the partnership increased transaction volume by 150% this year. Tink provides the open banking infrastructure for payment initiation services (PIS) and account information services (AIS) in Europe.
- Plaid TechnologiescoreSplitwise uses Plaid to gather data from users' financial institutions for Splitwise Pay service and Splitwise Pro features like bank account linking. Plaid provides secure access to users' bank account information under PSD2 compliance for European users.
- Coastal Community BankcoreSplitwise Pay is offered in partnership with Coastal Community Bank, an issuing bank partner that provides the wallet and debit card services. The bank handles KYC/AML verification, regulatory compliance, and card issuance for Splitwise Pay accounts in the United States.
- PayPalsecondaryPayPal integration allows US users to send payments up to $500/week to other US residents via deep links to PayPal's API. The integration automatically records payment status on Splitwise. Usage is limited to US residents sending USD.
- VenmosecondaryVenmo integration allows US users to initiate payments through deep links and APIs, with automatic recording of payment status. Available only to legitimate US Venmo users in compliance with PayPal Acceptable Usage Policy.
- PaytmsecondaryPaytm integration on Android allows users to initiate payments or requests by pre-populating information such as email, phone number, amount, or notes as part of payments completed on the Paytm platform.
- ZapiersecondarySplitwise integration with Zapier allows users to create automated workflows connecting Splitwise to other applications, similar to IFTTT functionality, enabling automated expense management and data exports.
Scale indicators2 records
Recent moves4 records
Expansion highlights5 records
Splitwise competitors and assessment
Company assessmentDirect peers
- Tricount: Bill-splitting app owned by BNP Paribas that lets groups track shared expenses, simplify balances, and settle up across multiple currencies. It is the most direct functional and use-case competitor to Splitwise, particularly strong in Europe where Splitwise is just expanding.
- Settle Up: Group expense-splitting app that lets users track shared costs, calculate who owes whom, and settle across multiple currencies. Closely comparable to Splitwise in feature set, with a similar social/roommate/trip use case focus.
- Splittr: iOS-focused expense-splitting app for groups, with shared ledgers, multi-currency support, and settlement reminders. Overlaps directly with Splitwise's trip and household expense-tracking use cases.
- Splid: Group expense-splitting app with shared balances, settlement suggestions, and multi-currency support. Comparable in functionality to Splitwise, particularly strong among European and travel-group users.
Broad incumbents
- Venmo: PayPal-owned P2P payments app with a social feed and native split-bill/charge-request functionality. Competes with Splitwise at the settlement layer for US social payments, and absorbs some of Splitwise's core use cases inside a much larger platform.
- Cash App: Block-owned P2P payments and banking app that includes direct splits, group payments, and a debit card. Overlaps with Splitwise on social expense sharing and increasingly on integrated payment/debit functionality (Splitwise Pay).
- PayPal: Global payments platform whose US P2P and request-money flows overlap directly with Splitwise's settlement integrations. PayPal is also a critical infrastructure partner to Splitwise for US dollar settlement, making it both a peer and a dependency.
- Wise: Cross-border payments platform with strong multi-currency wallet capabilities and group-send features. Comparable to Splitwise's multi-currency travel-expense use case and to the European expansion thesis behind Pay by Bank.
Others
- Plates by Splitwise: Splitwise's own iOS companion app for restaurant bill splitting, listed here to flag that restaurant-bill-splitting is a sub-category with its own direct competitors (e.g., Tab, Plate) that compete at the edges of Splitwise's proposition.
Emerging players
- Zaggle: Though primarily a corporate prepaid and expense-management platform, Zaggle touches the consumer expense-sharing adjacent space through its prepaid card and group-spend tools, and represents an emerging player whose prepaid card rails partially compete with Splitwise Pay.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Splitwise social profiles
Digital presenceSplitwise financial estimates
Financial estimateRevenue estimate
Valuation estimate
Splitwise leadership team
Management profileNumber of profiles
Profiles3 records
Splitwise funding detail
Funding detailFunding overview
Funding rounds6 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Splitwise M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Splitwise
What does Splitwise do?
Splitwise is a shared ledger mobile and web application that helps individuals track, split, and settle shared expenses with friends, family, roommates, partners, and travel groups. It offers a free core tier on iOS, Android, and web with a premium Splitwise Pro subscription that adds receipt scanning, currency conversion, charts, and an ad-free experience, plus a digital wallet and debit card service (Splitwise Pay) offered in partnership with Coastal Community Bank.
Is Splitwise a public or private company?
Splitwise is a private company. It is classified as venture growth investor backed and is currently operating.
When was Splitwise founded?
Splitwise was founded in 2012. It employs 11 to 50 people.
Where is Splitwise based?
Splitwise is headquartered in Providence, United States, in the North America region.
How does Splitwise make money?
Two revenue lines are on record. Splitwise Pro Subscription is the primary driver. The others are splitwise Pay Financial Services.
Who are Splitwise's main competitors?
Direct peers on record are Tricount, Settle Up, Splittr and Splid. Broad incumbents are Venmo, Cash App, PayPal and Wise. Plates by Splitwise is listed as an others. Zaggle is listed as an emerging player.
Does Splitwise have an API?
Yes. Splitwise provides a third-party API which allows other applications to have access to the user's Splitwise account data upon request of the user. Splitwise will share data with those applications only if the user specifically authorizes their account with that application by using the Splitwise username and password prompt provided. The API documentation is available at dev.splitwise.com. Users can also use the API for importing data (e.g., CSV data via programmatic access). Developer documentation is at dev.splitwise.com.
What industry is Splitwise in?
Splitwise's product category is Personal Finance / Expense Management. Its primary akta.pro industry code is FSAMACAG, Marketplace & Platform Payments (Split Payments, Sub-merchants).