We’ve seen how Venmo has taken off in the US for when people want to split things like shared restaurant bills. Now a UK startup has come up with an app which it claims will make it easier to share expenses when sharing an apartment.
According to the UK’s Office of National Statistics, the country has over ten million young renters driven into sharing apartments because of sky-high house prices. They have to split household costs and track group expenses, obviously. Many share with virtual strangers they have met on flat-sharing sites, which can make dealing with money awkward. And apartment sharing can be for only short periods.
So Splittable (a web site, Android and iOS app) works by providing housemates with a simple visual representation of household expenditures. House-sharers invite their cohabiters via email, a Facebook message or a WhatsApp message and can see what’s owed, at a glance.
Founder Nick Katz says the site has already been successfully trialled by over 1,000 young renters in London and is part of the Pi Labs consortium of UK property technology start-ups and incubated by the Open Data Institute before that.