Estonian Startup Cino Makes Group Payments a Social Experience

Estonian fintech startup, Cino, is revolutionizing group payments by transforming them into social experiences. The company aims to eliminate the often awkward process of requesting and keeping track of IOUs by linking everyone’s bank account to a single virtual payment card, allowing for simultaneous payments.

Cino, based in Tallinn, Estonia, recently raised over €1.4 million in a funding round. Notable participants in the round included Tera Ventures, APX, and Atomico Syndicate.

Cino’s Solution to Simplify Financial Interactions

Cino’s co-founder, Lina Saleh, asserts that the fintech industry’s role should be to simplify everyday financial interactions. “People spend a lot together, from rent, groceries, trips, dinners, and drinks. Our users love how seamlessly Cino integrates into their lives,” says Saleh.

The startup, established in 2022, claims its product is particularly popular among couples and Generation Z users.

Addressing the Changing Fintech Landscape

Elena Churilova, CEO and co-founder of Cino, highlighted the changing reality of financial transactions. She pointed out that traditional IOU and payment request apps were not meeting the needs of Generation Z, as these platforms were designed for a previous generation under a different fintech landscape.

Churilova stated, “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.” This perspective drives Cino’s mission to make group payments a more social and less cumbersome experience.