Hands-In, a payments startup that lets groups split the cost a basket at online checkouts, has raised $550,000 from a host of industry players.
Leaders from firms including GoCardless, Thredd, Elavon, FIS, Pay.com, PayU, Curve, and Free Trade joined the round.
Hands-In enables customers to split the basket between the group equally or by item, inviting all members into the transaction. Each customer can pay into the group simultaneously, and no money is taken from anyone until everyone has opted in and confirmed their participation.
The company is targeting the tourist industry, noting that 59% of purchases by Gen Z and millennial travellers are in groups of at least three. However, group travellers are often forced to upfront the entire cost at checkout on just one card, resulting in failed transactions.
Hands-In says it has agreements in place with several travel agencies and airlines, including Spain's fourth largest airline. Unnamed payment firms have also agreed to integrate the technology into their platforms.
Samuel Flynn, CEO, Hands-In, says: “With this investment, we are looking to accelerate Hands In’s tremendous growth by supporting our global enterprise clients and payment partners. After that, we have plans to broaden the appeal into new use cases and develop new products and services."