Making awkward IOUs a thing of the past Estonia's Cino raises €1.4M

Estonian fintech startup Cino makes group payments easy by turning them into a social experience, eliminating awkward IOUs. It has raised over €1.4 million in a funding round.
Making awkward IOUs a thing of the past Estonia's Cino raises €1.4M

Estonian fintech startup Cino is solving the awkward moments in life, the ones where someone owes you money. The company says it is turning payments into a social experience. There will be no more ‘I’ll pay and you can reimburse me later’ moments, Cino links each person’s bank account to one virtual payment card so you all pay together.

The Tallinn-based firm has just raised over €1.4 million in a funding round which includes participation from Tera Ventures, APX, and Atomico Syndicate.

"People spend a lot together, from rent, groceries, trips, dinners, and drinks. The role of fintech is to simplify our daily financial interactions, and that’s what our users love about Cino, we’re integrated seamlessly into their lives," says Lina Saleh, Cino co-founder. 

Founded in 2022 the startup says its product is popular amongst couples and Gen Zers. 

"It's not surprising, that traditional IOU and payment request apps were falling short for GenZ given that these platforms were designed for a different generation and under a different fintech landscape. Today's reality shows that people often spend more money collectively than individually. Yet, the fintech industry has overlooked our innate social traits. It's time we make finance as social as we are,” said Elena Churilova, CEO and co-founder of Cino.

Lead image: via Cino. Photo: Uncredited. 

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