{"data":{"type":"company_profile_ai","id":71795,"entity_id":"wefunder:company:71795","attributes":{"canonical_url":"https://wefunder.com/splitsy","retrieval_urls":{"canonical":"https://wefunder.com/splitsy","json":"https://wefunder.com/splitsy.json","markdown":"https://wefunder.com/splitsy.md","ai_json":"https://wefunder.com/splitsy.ai.json","ai_text":"https://wefunder.com/splitsy.ai.txt","changelog_json":"https://wefunder.com/splitsy.changelog.json","schema":"https://wefunder.com/.well-known/ai-profile-schema.json"},"updated_at":"2026-06-16T05:02:29Z","generated_at":"2026-06-16T14:09:19Z","profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"company":{"id":71795,"entity_id":"wefunder:company:71795","slug":"splitsy","name":"Splitsy","tagline":"Share monthly bills with roommates. We pay the bill then charge each person. ","elevator_pitch":"We allow peers to split large bills such as rent, electric, water, cable, and more, automatically each month. In short, we pay the bill for the users and then charge each person their individual portion.","location":"Kansas City, MO","website":"https://splitsy.app","total_amount_raised":70900,"total_investors":130,"is_funded":false,"is_active":false},"key_claims":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 70900","citation":"https://wefunder.com/splitsy#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-17T05:02:29Z"},{"claim_id":"claim-total-investors","text":"Total investors: 130","citation":"https://wefunder.com/splitsy#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-17T05:02:29Z"}],"verified_facts":[{"claim_id":"claim-total-raised","text":"Total raised on Wefunder: 70900","citation":"https://wefunder.com/splitsy#claim-total-raised","provenance":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-17T05:02:29Z"},{"claim_id":"claim-total-investors","text":"Total investors: 130","citation":"https://wefunder.com/splitsy#claim-total-investors","provenance":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-17T05:02:29Z"}],"company_claims":{"tagline":"Share monthly bills with roommates. We pay the bill then charge each person. ","elevator_pitch":"We allow peers to split large bills such as rent, electric, water, cable, and more, automatically each month. In short, we pay the bill for the users and then charge each person their individual portion.","story":"Our co-founders, Brad \u0026amp;\u0026nbsp;Joe, moved to Kansas City from St. Louis in August of 2017 and became roommates while attending the University of Missouri - Kansas City. After enjoying their time in on-campus housing, Brad \u0026amp;\u0026nbsp;Joe were on a mission to find their first apartment. The idea of Splitsy started here.\u0026nbsp;We needed a better way to split monthly bills.Shortly after moving into their first apartment, Brad decided to grow his website development business. His business caused a delay in paying bills due to the nature of contract work. Joe and Brad worked out a temporary solution to pay bills together, which then sparked the idea of Splitsy. When they added a third roommate, splitting bills became even trickier, accelerating their passion for the idea. We joined a local Cohort Program.We were accepted into the UMKC E-Scholars Cohort program where we refined our business model, redeveloped our idea, and connected with mentors that have helped us take our idea to the next level. After completing the UMKC E-Scholars program, Brad connected with a colleague of his through a volunteer program, Nolan McMichael, who also experienced the problem on a larger scale at his previous university prior to moving back to Kansas City and joining our Splitsy team.\u0026nbsp;We received proof-of-concept grant funding!We pitched for the Digital Sandbox KC Program in October of 2020 where they choose 4 of 25-30 applicants to receive a\u0026nbsp;$20,000 grant paid to a vendor of our choice. Digital Sandbox\u0026nbsp;KC is backed by some of the largest enterprises in the Kansas City metropolitan area and is sponsored by the University of Missouri - Kansas City with over $80M\u0026nbsp;in follow-on funding.\u0026nbsp;Technology BuiltOver the two years leading up to receiving Digital Sandbox Funding; Brad, Joe, (and later) Nolan, worked diligently surrounding themselves by mentors to truly finetune the problem and conducted customer interviews to validate what our users truly want. With Digital Sandbox, we have been able to develop our Minimal Viable Product (MVP) which is set to be in the hands of our BETA users into the early days of Q2 2021. Leading up to this BETA launch, we are working with a subset of BETA users to do continued Quality Assurance testing on the application.\u0026nbsp;Our group creation and the linking process are outlined below. We're linked with over 17,000 billers under a real-time payment engine.\u0026nbsp;Additional screens on the grouping process, transaction management, and group management.\u0026nbsp;Our users can easily manage their shared groups, payments, and more! Our solution doesn't just stop at an automated bill pay solution, we have development plans on our product roadmap to expand our application beyond the consumer application and B2B solutions.\u0026nbsp;Demo VideoOur CompetitorsThe bill pay FinTech industry is growing substantially. However, we already have a few competitors in the space such as Splitwise, Venmo, CashApp, etc.\u0026nbsp;Our competitors currently only have a way to \"send money to friends \u0026amp; family for bills\" or to \"manage bills with friends \u0026amp; family\" but our competitors do not bridge the gap between the two in a way that Splitsy does. We allow users to manage their bills while offering an automatic monthly bill payment system.\u0026nbsp;Please note that this is an estimated timeline. Completion of these milestones is not guaranteed.Our Advisors\u0026nbsp;We're eager to launch and ready for you!\u0026nbsp;Shortly after COVID-19 hit, we were forced into a remote work setting and buckled down to accelerate our growth of Splitsy. We've grown our board of mentors, introduced ourselves to VC companies (for post-WeFunder), expanded our product roadmap,\u0026nbsp;and more. We've come this far, and we're ready for you to \"Go Splitsies\" with us!\u0026nbsp;","quick_facts":["2 Bank Sponsor Offers, 2 Pending! 💸","🎉 2021 1st Place Regnier Venture Challenge Winner!","2020 Q4 Digital Sandbox KC $20,000 Grant Recipient 💸","$200+ Billion Shared Apartment \u0026amp; Utility Industry 👥","$400+ Billion Interchange Revenue Industry 💳","Over 19 Million people in the U.S. share bills 🤝","Patent Pending Technology ✔️","A waitlist of users ready to Beta Test 📱"]},"computed_metrics":{"total_amount_raised":70900,"total_investors":130,"team_size":3,"featured_investor_count":1,"faq_count":5,"recent_post_count":0},"quick_facts":[{"claim_id":"claim-fact-1","value":"2 Bank Sponsor Offers, 2 Pending! 💸","citation":"https://wefunder.com/splitsy#claim-fact-1","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-2","value":"🎉 2021 1st Place Regnier Venture Challenge Winner!","citation":"https://wefunder.com/splitsy#claim-fact-2","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-3","value":"2020 Q4 Digital Sandbox KC $20,000 Grant Recipient 💸","citation":"https://wefunder.com/splitsy#claim-fact-3","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-4","value":"$200+ Billion Shared Apartment \u0026amp; Utility Industry 👥","citation":"https://wefunder.com/splitsy#claim-fact-4","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-5","value":"$400+ Billion Interchange Revenue Industry 💳","citation":"https://wefunder.com/splitsy#claim-fact-5","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-6","value":"Over 19 Million people in the U.S. share bills 🤝","citation":"https://wefunder.com/splitsy#claim-fact-6","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-7","value":"Patent Pending Technology ✔️","citation":"https://wefunder.com/splitsy#claim-fact-7","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"},{"claim_id":"claim-fact-8","value":"A waitlist of users ready to Beta Test 📱","citation":"https://wefunder.com/splitsy#claim-fact-8","observed_at":"2026-06-16T05:02:29Z","expires_at":"2026-06-23T05:02:29Z"}],"latest_fundraise":{"id":38517,"entity_id":"wefunder:fundraise:38517","state":"successful","offering_type":"4(a)(6)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2021-01-29T22:36:49Z","funding_closed_at":"2021-07-30T05:01:52Z"},"investor_memos":[],"team":[{"id":1211548,"entity_id":"wefunder:company_role:1211548","name":"Brad Starnes","title":"CEO \u0026 Co-Founder","role":"founder","profile_url":"https://wefunder.com/bradstarnes"},{"id":1211559,"entity_id":"wefunder:company_role:1211559","name":"Joe Allen","title":"COO \u0026 Co-Founder","role":"founder","profile_url":"https://wefunder.com/joeallen2"},{"id":1218300,"entity_id":"wefunder:company_role:1218300","name":"Nolan McMichael","title":"CFO \u0026 Co-Founder","role":"founder","profile_url":"https://wefunder.com/nolanmcmichael"}],"featured_investors":[{"id":5218,"entity_id":"wefunder:company_investor_profile:5218","name":"Ben Bianchino","profile_url":"https://wefunder.com/benbianchino"}],"relationships":[{"source_entity_id":"wefunder:company:71795","relation":"has_team_member","target_entity_id":"wefunder:user:1165014","target_url":"https://wefunder.com/bradstarnes"},{"source_entity_id":"wefunder:company:71795","relation":"has_team_member","target_entity_id":"wefunder:user:1172830","target_url":"https://wefunder.com/joeallen2"},{"source_entity_id":"wefunder:company:71795","relation":"has_team_member","target_entity_id":"wefunder:user:1173037","target_url":"https://wefunder.com/nolanmcmichael"},{"source_entity_id":"wefunder:company:71795","relation":"has_featured_investor","target_entity_id":"wefunder:user:1358524","target_url":"https://wefunder.com/benbianchino"},{"source_entity_id":"wefunder:company:71795","relation":"has_latest_fundraise","target_entity_id":"wefunder:fundraise:38517"}],"faq":[{"question":"After looking over the info provided for Splitsy, I have a couple of questions: (1) As I understand it, you don't have an actual product yet, correct? (2) What will your product ultimately provide that users can't obtain with a calculator? Is it just the automatic bill payment...","answer":"Hi Kevin, Thank you for all the great questions. 1.) Yes, that is correct that we do not have our product launched yet. We are currently finalizing the MVP development and will be rolling that out to our BETA users in early Q2 of this year. Our goal is to work quickly and efficiently with our BETA users to test and launch our product. 2.) Our product provides a much-needed solution to those who are currently splitting bills with peers. The issue is not our target market's inability to calcula..."},{"question":"Hi, Are you all planning on remaining an LLC for tax purposes? I really like the pass-through model. Also, do you all anticipate becoming profitable any time within the near future? Thanks","answer":"Hey Lucas, Thanks for reaching out to ask these questions! 1.) We intend on remaining an LLC for the foreseeable future given the advantages it provides for start-ups, including its tax benefits. We do not anticipate making a change within our corporate structure unless it proves to have large advantages for the company long-term. 2.) Our exact breakeven point is tough to pinpoint as it will be entirely dependent on how quickly we are able to scale our product(s). The majority of our variable..."},{"question":"I like this concept. What are your main competitors in this market? I would imagine one would be Splitwise; what would you say your platforms advantage over Splitwise is?","answer":"Hi Merid - We're excited to hear you like the concept! We have a few competitors in the space, most notably Venmo, CashApp, \u0026amp; Splitwise (as you mentioned). These applications are all great and serve a great purpose for paying friends back for stuff like fast food that is relatively inexpensive to cover for your friends. While consumers do use these applications for Rent \u0026amp; Utilities, many are put with the financial burden of covering these large transactions for their peers. We have a ..."},{"question":"Remaining an LLC is a mistake long term, you won’t attract capital from investors seeking to take advantage of the QSBS tax credit.","answer":"Hi Patrick - Thank you for the information on the QSBS tax credit in relation to remaining an LLC. We are not opposed to transitioning away from an LLC at a later date. I'd be interested in hearing more from you on this!"},{"question":"Hi Brad, I definitely see the need and looks like a good business model long term including the ideas on how to expand the customer base. One customer-oriented question for you. Three of us are sharing a flat, I presume our Splitsy accounts are all connected to our banks with ...","answer":"Hi Stu, This is a great question and one that we hear often. Currently, we will not authorize that individual user's payment for our MVP but still process the rest of the funds (i.e, 2 of the 3 individuals). We will then notify the users in the group that the bill wasn't completely paid and they will have to work individually to get that last portion paid. This isn't ideal, but it follows a very similar process as to what you would do if you split a flat without Splitsy. We will then be rolli..."}],"recent_posts":[],"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-16T14:09:19Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-16T05:02:29Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-16T14:09:19Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-16T14:09:19Z","confidence":"medium"}}}}}}