Steven

What Steven does

Steven AB is a Stockholm-based fintech operating a mobile-first peer-to-peer expense-splitting platform that helps friend groups, households, roommates, and travelers track, calculate, and settle shared debts. The Steven App lets users create groups, add expenses manually or via Open Banking imports, split costs in multiple ways (evenly, by amount, percentage, or parts), and settle via Swish, Klarna, or an in-app Steven Wallet. The product layer is paired with a co-branded Steven Mastercard (issued by Steven AB on the Mastercard network and processed via Enfuce) that triggers real-time notifications on each purchase so users can split transactions instantly with a group; the card supports Apple Pay and Google Pay tokenization.

Underneath the consumer product, Steven is regulated by Finansinspektionen as an e-money and payment institution and integrates Klarna's Open Banking service to retrieve up to 90 days of bank transaction history and bank account balances across more than a dozen European markets and 15+ card brands. The company monetizes via a three-tier subscription model (Free limited to 3 expenses, Unlocked at 49 SEK/year, Premium at 149 SEK/year with bank connections, subscription management, physical card, SMS reminders, and group statistics) plus card-related transaction fees (3% ATM withdrawals, 0.75% FX) and administrative fees for chargebacks and failed transactions.

Steven was founded by Jens Saltin, formerly Klarna's UK country manager, and grew to a user base of approximately 221,437 across 102 countries by 2022, processing 243,134 settlements and 1,660,554 shared expenses that year. After a 9M SEK seed round (2020) led by Flat Capital with Anders Borg as a notable angel, and a 2022 Crowdcube crowdfunding campaign that added 438 retail shareholders, Steven was acquired by a British startup in September 2023 in a multi-million SEK transaction aimed at accelerating European expansion under new ownership.

Name

Steven

Legal name

Steven AB

Website

https://getsteven.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Steven is a Stockholm-based fintech whose mobile app helps friend groups, households, and travelers track, split, and settle shared expenses via Swish, Klarna, Open Banking, and a co-branded Steven Mastercard.

Ownership category

akta.pro rank

Product category

Peer-to-peer payments / shared expense management

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Activities Related to Credit Intermediation (5223)

SIC

Finance Services (6199)

akta.pro primary industry

Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI)

akta.pro secondary industry

Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB)

Keywords

• Group expense splitting
• Peer-to-peer payments
• Shared expense management
• Open banking integration
• Social payment app

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure, Supply Chain

Revenue model

1. Subscription Tiers: Steven generates revenue primarily through three subscription tiers: Free (limited to 3 expenses), Unlocked (49 SEK yearly or 9 SEK monthly) offering unlimited expenses and digital card, and Premium (149 SEK yearly or 19 SEK monthly) adding bank connections, subscription management, physical card, and SMS reminders.
2. Card Transaction Fees: The Steven card charges a 3% ATM withdrawal fee and 0.75% currency conversion fee on international transactions.
3. Chargeback and Administration Fees: Fees charged for chargebacks (30 EUR), failed withdrawal investigations (15 EUR administration), and incorrect payment details (25 EUR administration).

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Core offering

Steven provides a mobile peer-to-peer expense-splitting app that lets groups of friends, households, and travelers create shared groups, log and split expenses (manually or from connected bank accounts), and settle balances via Swish, Klarna, or the Steven Wallet. The Steven Mastercard co-branded debit card issues real-time purchase notifications enabling instant split assignment, while Open Banking via Klarna powers automatic transaction import and budgeting.

Product overview

Steven is a Swedish fintech company offering a mobile-first peer-to-peer expense-splitting and group payment platform. The core product is the Steven App, which enables users to create groups, add shared expenses (manually or via connected bank accounts), and settle debts using Swish, Klarna, or the built-in Steven Wallet. The Steven Mastercard — co-branded with Mastercard and issued by Steven AB — provides a physical and digital payment card that triggers real-time expense notifications, allowing instant splitting of transactions. Steven operates a tiered subscription model: Free (up to 3 expenses, unlimited groups), Unlocked (49 SEK/year, unlimited expenses, digital Mastercard), and Premium (149 SEK/year, adds bank account connection, subscription management, recurring expenses, SMS reminders, physical card, and group statistics). Key technical integrations include Open Banking via Klarna Bank AB for account aggregation and budgeting, Apple Pay and Google Pay for digital wallet payments, and Swish for instant Swedish transfers. The company is regulated by Finansinspektionen as an e-money and payment institution.

Differentiator

Problem solved

Functional benefit

Brands

• Steven Free: Free tier with up to 3 manual expenses, unlimited groups, and settlement via Swish, Klarna, or Steven Wallet
• Steven Unlocked
• Steven Premium
• Steven Mastercard

Products and services

• Steven App A peer-to-peer mobile and web application for splitting and settling shared expenses among groups of friends, households, or colleagues. Users create groups, add expenses manually or from bank transactions, choose how to split costs (evenly, by amount, percentage, or parts), and settle payments via Swish, Klarna, or Steven Wallet. Supports 140+ currencies and sends automatic reminders.
• Steven Account (E-money Account) An e-money account issued by Steven AB that enables users to send and receive electronic payments. Users upload funds to the account and use them to settle debts with other Steven users or pay with the Steven Card. The account is denominated in a currency of the user's choice and is regulated under the European Electronic Money Directive.
• Steven Mastercard A Mastercard co-branded debit card issued by Steven AB, designed specifically for shared expenses. Every purchase triggers a real-time notification allowing users to split the transaction directly with a group. Available as a digital card (for Apple Pay/Google Pay) and a physical card. ATM withdrawal fee is 3% and foreign currency fee is 0.75%.
• Steven Free A free tier of the Steven app allowing users to create up to 3 manual expenses, join unlimited groups, and settle using Swish, Klarna, or Steven Wallet.
• Steven Unlocked A paid subscription tier priced at 49 SEK yearly or 9 SEK monthly. Includes unlimited expenses, a digital Steven Mastercard, and all Free tier features.
• Steven Premium A premium subscription tier priced at 149 SEK yearly or 19 SEK monthly. Includes bank account connection (Open Banking), subscription management with cancellation capabilities, repeat/recurring expenses, physical Steven Mastercard, SMS reminders, group spending statistics, and all Unlocked features.
• Steven Apple Pay Integration Steven card can be added to Apple Wallet for contactless payments in stores, apps, and online using Face ID or Touch ID on iPhone, Apple Watch, and Mac devices.
• Steven Open Banking Bank Account Connection A feature powered by Klarna Bank AB's Open Banking service that enables users to connect their bank accounts to the Steven app. Users retrieve up to 90 days of transaction history, select specific transactions to add as shared expenses, use budgeting tools, and receive expense categorisation and savings tips. Available on the Premium plan.
• Steven Wallet (In-App P2P Payments) An in-app peer-to-peer payment feature allowing users to settle debts directly within the Steven app using the Steven balance, with automatic reminders sent to friends who are late with payments.

Quantifiable outcome

• Users doubled the number of shared expenses year-over-year from 2021 to 2022
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Jens Saltin (Founder)coreOthers · 25 September 2020Jens Saltin, former country manager for Klarna in the UK, founded Steven and serves as one of the primary founders of the company.
• Klarna Bank ABcoreTechnology or Integration · 23 September 2020Steven integrates Klarna's Open Banking service to enable users to connect their bank accounts to the app. This allows automatic import of bank transactions which users can then categorize as shared expenses. Klarna acts as the account information service provider.
• MastercardcoreTechnology or IntegrationSteven partnered with Mastercard to issue the Steven Mastercard debit card, described as 'the world's first card designed for shared expenses.' The card enables real-time transaction notifications and immediate expense splitting.
• Enfuce Financial Services LtdcoreTechnology or IntegrationEnfuce provides payment processing services for the Steven Mastercard including card issuing, transaction matching, digital wallet integration (Apple Pay, Google Pay), and fraud/money laundering prevention.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lydia: Lydia is a French mobile payment app offering P2P transfers, group payments and a Mastercard card with expense splitting features. It is a direct European peer that combines a payment card with social/group payment functionality similar to Steven's integrated card + splitting approach.
• Splid: Splid is a Swedish-origin group expense-splitting app focused on travelers, friends and shared households. It is the closest home-market direct peer to Steven and competes on the same Scandinavian use cases.
• Splittr: Splittr is a minimalist expense-splitting and bill-sharing app for groups and households. It targets the same social expense use case as Steven and competes for the same iOS and Android app store audience.
• Tricount: Tricount, owned by BNP Paribas, is a leading European group expense-splitting app used for trips, shared households and events. It competes head-to-head with Steven in Europe and offers free unlimited expense splitting, putting direct pressure on Steven's free tier.
• Split My Bills: Split My Bills is a UK group expense management app for households, couples and shared living. It targets the same household and shared-living use case as Steven's household segment with similar free/premium pricing tiers.
• Settle Up: Settle Up is a multi-currency group expense splitter for trips and shared living, supporting 140+ currencies. It is functionally comparable to Steven's group expense feature and is offered free on app stores, directly contesting Steven's freemium model.
• Splitwise: Splitwise is the dominant global expense-splitting app, letting users track shared bills, IOUs and group expenses. It is the most direct functional competitor to Steven's core group expense management feature and is free with unlimited expenses.

Broad incumbents

• Revolut: Revolut is a large European neobank offering P2P payments, multi-currency accounts and card issuing — including group payment and bill-splitting features inside its app. It competes with Steven in the broader mobile wallet / P2P space with far greater scale and capital.
• Wise (formerly TransferWise): Wise is a global multi-currency payments platform that overlaps with Steven's multi-currency card and FX capabilities. It is a broader incumbent in the consumer cross-border payments category where Steven also operates.
• Monzo: Monzo is a UK digital bank offering current accounts, P2P payments and card services. It overlaps with Steven's card-issuing and digital wallet stack at the broad fintech level, though without Steven's specialization in shared expense splitting.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/getstevenapp

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Steven