Cino: The Fintech App Ending Bill-Splitting Headaches

Cino, a bill-splitting app founded in Tallinn, arose from CEO Elena Churilova’s personal experience with shared expenses. During a conversation with her partner, Churilova realized she had been unknowingly underpaying in their shared spending, believing she was overpaying simply because they took turns covering costs. This led her to search for a solution that could handle expenses more transparently, and she quickly noticed a lack of options that were user-friendly and efficient. With a background as a product manager at companies like Bumble and Booking.com, Churilova decided to build a better solution herself.

Cino approaches bill-splitting differently from other apps by introducing a shared virtual payment card, which connects directly to each person’s bank account within a group. Each group member can set their own split ratio, determining what percentage of each transaction they will cover, making it simple to avoid paying for someone else’s expenses. The virtual card, available through digital wallets like Apple and Google Pay, automatically divides each transaction according to the chosen split, saving time and hassle. This design helps eliminate the need to calculate who owes what and avoids the awkwardness of payment reminders, making bill-splitting as seamless as the payment itself.

Cino has established a core user base among couples who rely on the app for managing recurring expenses like groceries, subscriptions, and travel costs. The app’s most frequent users reportedly use it up to 21 times per month, with monthly spending ranging from €300 to €3000, highlighting its utility for daily expense management. Cino has also become popular among friends traveling together, roommates sharing household costs, and families where older members provide financial support to younger relatives. This diverse appeal underscores Cino’s effectiveness in simplifying financial coordination across various relationships and shared living arrangements.

Cino’s approach to marketing has leaned on word of mouth and TikTok, where it has gained visibility through viral videos that spark conversations around the taboo topic of money. To foster a community focused on fair and open financial practices, Cino collaborates with influencers who are passionate about relationships and finances. This strategy has helped the app stand out in a crowded market and build a loyal user base.

Cino is looking to broaden its service offerings by venturing into rent and utility splitting, addressing the practical needs of users for shared expenses that go beyond card-based transactions. This expansion seeks to provide a comprehensive solution for those managing regular, significant shared expenses, like housing costs, through a streamlined and automated platform. To support these new payment capabilities, Cino is actively negotiating with a prominent fintech partner, which could enhance the app’s functionality and broaden its reach.

The company has also attracted the attention of businesses interested in facilitating group payments directly at checkout. This demand is particularly relevant in scenarios like booking hotel rooms or travel arrangements for multiple people, where individual payment contributions are often complicated to manage. By accommodating these use cases, Cino could unlock new partnership opportunities, evolving from a peer-focused bill-splitting app into a versatile tool for both personal and group expense management across various sectors. This strategic growth could solidify Cino’s position in the fintech space, appealing to both consumers and businesses in need of seamless shared payment solutions.