Cino Raises €3.5M to Revolutionize Shared Payments
Deal News | Mar 04, 2025 | Balderton Capital
Cino, a company focused on shared payments solutions, has raised €3.5 million in seed funding. The funding round was led by Balderton Capital, with the participation of Connect Ventures, Tera Ventures, and prominent angel investors such as Barney Hussey-Yeo of Cleo. Cino, co-founded by CEO Elena Churilova and COO Lina Saleh, offers a virtual card that allows real-time bill splitting directly from users' bank accounts. The app caters to Generation Z, who prefer seamless and immediate financial tools. Cino's innovation eliminates traditional bill-splitting concerns such as reimbursements. Since its launch in 2023, Cino has demonstrated viral growth, particularly in Finland and Italy, where it reports 100% month-on-month growth. The company aims to expand its services across Europe and explore new payment verticals, including B2B and rent, following this latest funding.
Sectors
- Fintech
- Venture Capital
Geography
- Europe – Cino's current operational focus is within Europe, with significant growth reported in countries such as Finland and Italy. The company plans further expansion across Europe.
- United Kingdom – Cino is preparing for a launch in the UK, indicating a strategic geographical expansion.
Industry
- Fintech – Cino is leveraging financial technology to provide a seamless shared payments solution, targeting the needs of modern consumers, particularly Gen Z.
- Venture Capital – The article discusses a seed funding round led by a venture capital firm, indicative of investment interest in innovative financial solutions.
Financials
- €3.5M – The amount raised by Cino in its seed funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cino | Target Company | Company | Cino offers the only real-time shared payments app, allowing group payments through a virtual card. |
| Balderton Capital | Investor | PE Firm | Balderton Capital led the €3.5M seed funding round for Cino. |
| Connect Ventures | Investor | Company | Connect Ventures participated in the seed funding round for Cino. |
| Tera Ventures | Investor | Company | Tera Ventures was one of the participants in Cino's seed funding. |
| Barney Hussey-Yeo | Investor | Person | Angel investor and founder of Cleo, participated in Cino's seed funding round. |
| Elena Churilova | CEO & Co-founder | Person | CEO and co-founder of Cino, leading the company post-funding. |
| Lina Saleh | COO & Co-founder | Person | COO and co-founder of Cino, contributing her design expertise to the operations. |