Cino funding news – Tallinn-based Cino Secures €3.5 Million in Seed Funding

The funding round was led by Balderton Capital, with Connect Ventures and angel investors like Barney Hussey-Yeo (founder of Cleo) also participating.

Elena Churilova, Co-founder and CEO of Cino said: “Fintech has always been one-dimensional but we are social creatures. Our payments should reflect how we actually spend money – together. Back in the cash days, it was simpler. Now that we’ve gone digital, payments need to evolve to keep up.”

Cino is designed for how Gen Z wants to pay with friends and family – quickly and easily, without any awkwardness. It’s built to be as social as the experiences it supports. Gen Z needs financial tools that are flexible, easy to use, and work well with everything. Cino provides a solution that works across the EU and soon in the UK, without needing to use the same bank.

Here’s how it works: Users connect their card to the Cino app, get a virtual card, and join shared payment groups where they can set custom split ratios. Anyone in the group can pay for anything, wherever Visa is accepted, and everyone’s share is automatically taken care of at checkout.

Cino is bank-agnostic, so users don’t need to use the same bank or share bank details. All payments are visible in the group feed for transparency, and users can join or leave groups at any time.

Cino makes shared payments easy – no need for follow-ups, tracking, payment links, sharing bank details, wallets, or pre-loaded funds.

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While Gen Z grew up using digital wallets and banking apps, splitting costs can still be awkward. Many young people live in shared houses, dividing utilities and grocery bills, and need to manage tight budgets in an unpredictable economy. Even in close relationships, joint bank accounts are becoming less common.

Traditional bill-splitting apps, created over ten years ago, focus on managing debt, and the process can be stressful, making it harder to share expenses without negative feelings. In fact, more than half of people have ended friendships, and a third of Gen Z couples have split, due to money disputes.

Cino has grown rapidly, with 100% month-on-month growth in Finland and Italy. On average, groups use Cino 17 times a month, spending up to €3k. New users often complete their first transaction within hours of signing up. The company also has a growing waitlist for its UK launch later this year.

With this new funding, Cino plans to expand more across Europe and introduce new shared payment features, including options for B2B payments and rent.

Greta Anderson at Balderton Capital said: “For too long, people have accepted standard bill-splitting, debt tracking, and repayment requests as the only way to manage shared expenses – simply because there was no alternative. Cino’s viral growth demonstrates that there is an alternative which users love. We’re excited to support Elena and Lina as they redefine how money moves between people and groups.”

About Cino

Cino was launched in 2023 by CEO Elena Churilova and COO Lina Saleh. Elena has experience from Bumble and Booking.com, while Lina has a background in Human-Centered Design from Cornell University. Cino is the first solution that allows people to truly pay together, charging everyone their share in real-time directly from their bank account at checkout.