Photo - Pay Tgthr
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Pay Tgthr

Debit card for couples that automatically splits purchases

USA, California
Market: Financial services
Stage of the project: Operating business

Date of last change: 20.10.2020
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Idea

Pay Tgthr helps couples split their expenses by issuing each partner a Tgthr debit Mastercard. When a purchase is made on either card, we split the purchase between both partners automatically. Daily, we debit each partner's balance directly from their linked checking account.

Current Status

• Signed up ~13,000 users
• Processed ~$222,000 of transactions
• Average couple spending of $244 per month with an average of 10 purchases a month
• One example couple spent $2,259 in August on their Tgthr debit cards

Market

33.5 million people cohabitate as a couple
Average US shared expenses of $600/mo (excluding rent)
$1+ Billion / year TAM

Problem or Opportunity

Couples don’t have a simple way to split their growing shared expenses

For example: rent, utilities, dinner, food delivery, entertainment, streaming, groceries

Solution (product or service)

The Tgthr Debit Card Signup Flow

1 Link existing bank account
2 Pick a split as a couple
3 Shop anywhere Mastercard debit cards work
4 Pay Tgthr charges only each partner's share to their existing checking account

Competitors

Venmo, Cash app other P2P money apps
Joint checking accounts
Taking turns paying for groceries

Advantages or differentiators

Venmo requires manually keeping track of the expenses, doing math, and then charging partner. Then wait for partner to pay back. Complicated math to do non 50/50 math.
Joint checking requires to pre-load account and re-load on some schedule. Complicated setup for non 50/50 splits.
Add a user on a current credit card places all the risk on the primary user. 1 partner floats the other

Finance

Card interchange (~150 bps)
$ 43 /year /card expected revenue

Money will be spent on

1

Team or Management

Risks

New type of debit card requires some training

Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video