Cino, a fintech startup, has secured €3.5 million to enhance its shared payments application aimed at tech-savvy Gen Z users who wish to seamlessly split bills with friends and family. Unlike other payment apps, Cino allows real-time bill splitting, ensuring no one has to chase their friends for reimbursements. Their product has gained traction, with a growing user base in Europe, particularly in Finland and Italy, as they prepare to expand to the UK. The app's founders emphasize the importance of a more social and collaborative payment experience in the digital age.
"I realised that everyone was trying to solve the process of settling debt, instead of coming earlier, at the moment of payment," Churilova previously told TNW.
"Fintech has always been one-dimensional but we are social creatures," said Churilova. "Our payments should reflect how we actually spend money - together. Back in the cash days, it was simpler. Now that we've gone digital, payments need to evolve to keep up."
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