Funding
Funding not disclosed
Founders
Product
Problem
Managing shared expenses among groups often involves manual calculations, spreadsheets, and constant reminders, leading to awkwardness and delayed reimbursements. Existing payment apps may not fully address the complexities of splitting various types of expenses or coordinating group spending.
Solution
Splyt is a platform designed to streamline shared expenses and facilitate seamless payments within groups. The platform allows users to split one-time or recurring bills, such as meals, rent, and utilities, eliminating the need for manual calculations and external spreadsheets. Users can create groups, invite friends, track expenses, coordinate plans, and chat within the app. Splyt also offers a debit card that simplifies in-person and online payments, automatically splitting charges among group members and providing instant reimbursements.
Target Audience
Splyt targets individuals who frequently share expenses with roommates, friends, family, classmates, or co-workers and seek a streamlined solution for managing group finances.
Features
- Group creation and management with customizable permissions and spending limits
- Flexible expense splitting options, including even splits, exact amounts, percentages, or by item
- Splyt debit card for convenient in-person and online payments, supporting Apple Pay, Google Pay, and Samsung Pay
- Automatic bill splitting for recurring expenses
- Real-time expense tracking and payment requests
- Integrated chat functionality for group communication
- Free debit card with no hidden fees or credit checks
- ATM access at cost-free ATMs in the US
- Card control features to enable or disable the card in real-time