2023-11-07
Smoov
www.smoov.appIndustry
Fintech, Consumer Tech
Headquarters
Los Angeles, CA
Employee Count
3 FTE’s & 4 part time
Year Founded
2021
Business model
Monthly subscription ($14 per couple) and eventually the opportunity to implement a transaction fee and monetize data
Early traction
Just finished beta with 150 couples who split over $200k, 1000+ waitlist with no marketing spend.
Investors
Whether it has been with a significant other, roommate, or friend, chances are you’ve been subject to the chaos of splitting expenses.
This usually unfolds in several disorganized ways:
Awkward Venmo requests: These often lead to disputes and uncomfortable conversations.
The notes app: That ever-growing laundry list of who paid for groceries tends to be a disaster and often inaccurate.
An excel sheet: There’s nothing more romantic than a shared Google Sheet and crunching numbers on date night.
This week’s company provides a platform that allows couples to automatically split and manage expenses.
Smoov is an app for couples to split and manage expenses.
Couples: Smoov primarily targets couples but the technology is applicable to roommates, friends, families, and more.
Split: The app integrates with credit cards and bank accounts, automates calculations based on the selected split percentage, and enables one-tap splitting and money transfers.
Bulleted Version
🎯 Target market: The global payment management market is expected to continue growing at a strong rate, plus half of married millennial couples (14M) don’t have any shared bank accounts.
To reach $10M in ARR with only subscription revenue, Smoov needs less than 1% of the married millennial market— which doesn’t factor in Gen Z, unmarried couples, or friends.
👩‍💻 Couples need a solution: 42% of couples in the US report having financial disagreements with their partner, and couples report that the majority of their Venmo transactions are with their partners.
Smoov’s positioning to address couples and their finances is a huge opportunity reinforced by an early bet by top-tier firm, Spark Capital.
đź“Š Future revenue streams: Beyond subscriptions, Smoov has an opportunity to charge transaction fees, sell data, and form synergistic partnerships with dating apps.
đź’° Fundraising: Smoov's limited traction post-beta may spark investor caution, even though these funds are critical for scaling their distribution and product development efforts.
🤔 Adoption Resistance: In a market filled with generic finance tracking apps, Smoov may struggle to convince users that a specialized app for couples is a necessity rather than a luxury.
đź‘Ł The giants: Financial behemoths like Venmo and Cash App could potentially break into the couples' market by rolling out new features.
Smoov needs to innovate swiftly to become an acquisition target, rather than a feature they could replicate.
Ivella: Backed by Y Combinator, Restive, Soma Capital, and others.
Splitwise: Backed by Insight Partners, Walnut Ventures, Andrew Chen, and others
Zeta: Backed by Goodwater, FinRise, Deciens Capital, Precursor Ventures, and others.
WhySmoov
By providing a seamless solution for splitting bills, tailored to how modern-day couples spend together, this company is flirting with a huge opportunity.
*Nothing in this content constitutes investment or legal advice. Conduct independent diligence and consult professional advisers before making investment decisions.*
Explore
other features
Brooklyn, NY
2026-06-30
Yank Tech
Yank Tech is building long-range and high-powered wireless charging systems that let robots, vehicles, defense equipment, and space hardware charge without cables or exposed connectors.
Business model
Sells wireless power hardware, licenses application-specific IP, and earns royalties from deployed systems
Los Angeles, CA
2026-06-16
Companion Intelligence
Companion Intelligence is building a local AI platform that combines private infrastructure, personal AI agents, and a persistent digital memory into a single system users own and control.
Business model
Bundled hardware & software subscription
Austin, TX
2026-06-02
PLANET.TECH
PLANET.TECH is building the operating system for cattle by turning methane emissions into renewable fuel revenue and using real-time health intelligence to help farmers protect their herds.
Business model
Revenue share model on methane sales and environmental credit revenue