Splitwise, a Providence, R.I.-based interpersonal finance app for sharing expenses with friends and family, raised $20M in Series A funding.
The round was led by Insight Partners. In conjunction with the funding, Boris Treskunov, Principal at Insight Partners, will join the Splitwise Board of Directors.
The company will use the funding to grow its team, accelerate global customer growth, and create new partnerships with fintech and financial services platforms.
Led by Jon Bittner, CEO and Co-Founder, Splitwise provides an app which allows users to track balances and organize payments. It is used by group travelers, allowing them to effectively split costs accrued over a trip.
As of April 2021, over $90B dollars in total transactions had been split on the Splitwise platform.