Invest in Splitsy: Share monthly bills with roommates. We pay the bill then charge each person. | Wefunder

min $100

A Future Equity Agreement (SAFE) gives you the right to future shares in the company. If you invest, you're betting the company will be worth more than $3M eventually

I am investing in Splitsy because I believe they are solving a problem that millions of American consumers have been dealing with for a long time: paying bills and doing so jointly. I have 10 years in fintech experience, including time working with several consumer bill payment aggregators, the industry is being flipped upside down right now and Splitsy is well positioned to take advantage of market tailwinds. Their founders recognized this are seizing the opportunity.The exciting thing for Splitsy is that the value they are creating does not start and stop with the roommate consumers. Settling up with roommates is not only inconvenient and sometimes awkward for them but can also create fractured relationships that lead to tenant churn for multi-family owners/managers. This is where I see Splitsy's opportunity to not only solve consumer financial problems but also help the multi-billion dollar multi-family industry incrementally improve their tenant retention rates. Combining convenience for consumers with business value for commercial partners is a winning strategy. Moreover, that strategy is sitting on a foundation of a recurring, transaction based revenue stream from one of the most lucrative areas of payments. For all of these reasons and more I am very excited for the opportunity to invest in Splitsy, their product and founders have a bright future

Our co-founders, Brad & 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 & Joe were on a mission to find their first apartment. The idea of Splitsy started here

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 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

We pitched for the Digital Sandbox KC Program in October of 2020 where they choose 4 of 25-30 applicants to receive a $20,000 grant paid to a vendor of our choice. Digital Sandbox 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 in follow-on funding

Over 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

Our group creation and the linking process are outlined below. We're linked with over 17,000 billers under a real-time payment engine

Additional screens on the grouping process, transaction management, and group management

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

The bill pay FinTech industry is growing substantially. However, we already have a few competitors in the space such as Splitwise, Venmo, CashApp, etc

Our competitors currently only have a way to "send money to friends & family for bills" or to "manage bills with friends & 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

Please note that this is an estimated timeline. Completion of these milestones is not guaranteed

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, and more. We've come this far, and we're ready for you to "Go Splitsies" with us!

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