The TECHdotMN team would like to introduce you to each of the startups featured in the upcoming BETA showcase. Over the next couple of weeks, we will highlight each company, so you can get a better idea of the talent, hardwork, and dedication held within each of these startups.
The next company in our BETA Startup Showcase series is: Split
Split is a peer-to-peer payment solution which allows friends, family and others to easily and more efficiently split shared expenses.
Tell us the story of how and why you started your company.
When our co-founder was in college he lived in a duplex with 3 other roommates and was responsible for paying the household’s bills and rent payment. Each month he would spend countless time searching for the monthly statements from the cable and internet, water, electricity and natural gas providers. After tracking down the statements, he then calculated how much each roommate was responsible for by using a legal pad and the built-in calculator on his cell phone. Finally, he would send payment requests to his roommates one-by-one for how much they were responsible for paying him back. Will thought there had to be a better solution, but to his frustration, there were no suitable mobile applications to solve his problem.
Fast forward two years, the co-founders began working together at an investment consulting firm as analysts covering venture capital and private equity managers. They were inspired to start their own business after hearing stories about great businesses and entrepreneurs the venture capital firms were investing in. They began brainstorming ideas of various business ideas when both expressed frustration with splitting expenses with friends and roommates. They began outlining what features their dream peer-to-peer payment application would have and Split was officially launched.
What is your most recent success or milestone hit?
We are expected to launch on the app store by September 21, 2019.
Where do you see your Split in 1 year?
In a year, we see Split as a peer-to-peer payment platform that has evolved to become a one-stop-shop for peer-to-peer payment expenses. Additionally, we hope to become further ingrained in users’ financial lives by developing personal finance and budgeting features within the app.
For more information, please visit: Split