Fintech startup Cino has successfully closed a seed funding round to scale its innovative payment platform, which allows groups to split bills instantly at the point of purchase rather than tracking debts after the fact.
How Cino Redefines Shared Payments
The platform operates with a user experience familiar to most mobile users. “The way to set it up is similar to how WhatsApp works,” explained founder Churilova. “You just create groups, and then we issue virtual cards. You can add people, remove people from that virtual card, and also change the split ratio.”
The Origin Story: Solving a Personal Pain Point
Cino’s inception traces back to Churilova’s tenure at Bumble. While managing shared expenses with colleagues, she grew frustrated with existing financial tools. “I tried every single tool out there possible to figure out how to make my weekends not into accounting exercises,” she noted. “Then I just had this moment of thinking, like, ‘Why is no one building a way to pay together?’”
Growth Strategy and Market Traction
To drive rapid adoption, the app utilizes a built-in network effect: every new Cino user is granted the ability to invite two to four additional users for free during their first six months on the platform.
Investor Confidence in the Fintech Space
“For too long, people have accepted standard bill-splitting, debt tracking, and repayment requests as the only way to manage shared expenses — simply because there was no alternative,” said Greta Anderson, an investor at Balderton Capital. “Cino’s viral growth demonstrates that there is an alternative which users love.”
The seed round saw participation from Connect Ventures and Tera Ventures, along with a group of angel investors, most notably Barney Hussey-Yeo, the founder of Cleo.
