Every day, the world gets smaller a little more. As we become more connected, there appears to be a larger demand for people to split their expenses. How to split money? Even though it may sound like a simple task, it might be problematic splitting bills in a shared house for friends, or business partners who are separated by distance. While some individuals choose to deal with their shared spending via email or text messages, many others find that using applications created particularly for this purpose makes the process much easier and faster.
Bill splitting apps are fantastic in many ways. They make the awkward and time-consuming process of calculating, splitting, and arguing about who pays for what unnecessary. These applications make it simple instead of awkward. They make it easier for you and your friends to
make rapid payments by optimizing the payment procedure. They also make certain that everyone gets their fair share. After a night out on the town, no one needs to worry about getting shortchanged or having to deal with complicated financial problems.
We have searched and listed some of the best payment sharing apps for you.
Top Bill Splitting Apps List
- Founder name: Nick Katz, Paddy Allen, Vasanth Subramanian
- Founded: 2014
- Funds Raised: $1.2M
- Employee number: 11-50
- Location: London, United Kingdom
Acasa is a web, iOS, and Android platform that lets you create, manage, divide, and pay your expenses all in one place. It is specially designed for the world’s increasing number of young renters and one of the best ways to split bills with roommates. Acasa (formerly Splittable) was founded in the Open Data Institute in 2014 and is supported by some of Europe’s most prominent technology investors. Also, acasa is powered by Octopus Energy, a supplier that generates 100% green energy.
- Founder name: Jonathan Bittner, Marshall Weir, Ryan Laughlin
- Funds raised:$30.2M
- Employee number: 2-10
- Location: Providence, Rhode Island -USA
Splitwise is a split expenses app that allows users to split payments with one another. It keeps track of all its members’ pooled costs and debts in one location so that everyone knows to whom they owe money. It sends monthly reminder notifications to its users. The app also offers mediation assistance on fairness concerns to its users.
- Founder name: Gabriel Savit, Quinn Savit
- Founded: 2013
- Employee number: 1-10
- Location: New York, New York, United States
Tabapp is one of the popular and user friendly bill splitting apps. You take a photo of the receipt and choose your items among them to claim them. The app does the rest, even the tax and tip calculations. Taking a photo instead of relying on manual entries makes it a wonderful restaurant bill splitter.
- Founder name: Nico Jersch
- Founded: 2015
- Employee number: 1
- Location: Berlin – Germany
Splid aims to make managing shared costs easier in the long run. Whether it is for vacation money, shared apartments, or shared bills with friends, Splid makes it easy to keep track of goods and settle bills. It works offline, too.
- Founder name: Guillebert de Dorlodot, Jonathan Fallon
- Founded: 2015
- Funds raised: €700K
- Employee number: 1-10
- Location: Brussels, Belgium
When using Tricount, everyone who is invited has the option of adding their own expenditures.
You just write your expenses, and the app does the math and compute the most efficient way to pay each other back. Everyone can see the expenses in a group. It is recommended especially for short-term expenses (trips, holidays etc.), shared accounts, and for people who share their living spaces. It is free of charge and is an Editor’s Choice by Google.
- Founder name: Andrew Kortina, Iqram Magdon-Ismail
- Founded: 2009
- Funds raised: $1.3M
- Employee number: 51-100
- Location: New York, USA
Venmo is a simple and pleasant “split the bill” app. No wonder it is quite popular. They evolved from the ideas of two college roommates as a better way of paying each other and grew quite a lot since their founding in 2009. It is particularly amazing that they started as an SMS platform
and turned into an app with time. They make a wonderful example of business adaptability.
This blog post is written by Deniz Ege Altıncicek.
Sources: Crunchbase, LinkedIn, startup websites