App for Splitting Restaurant Bills | Mobile App Startup Idea


This Mobile App Startup Idea from the 1001 Startup Ideas collection of YoStartups is to develop an App for Splitting Restaurant Bills. It will be a mobile application which will enable the customers to split bills at restaurants and while ordering food for home delivery. This application will also allow the customers to pay the restaurant bills by linking it to cards and e-wallets. The startup will tie up with restaurants to enable the users to split and pay bills.

Market Definition | App for Splitting Restaurant Bills

According to statistics, on a global scale, the value of investment in financial technology ventures amounted to approximately three billion U.S. dollars in 2013 and was projected to grow to around eight billion U.S. dollars in 2018; and PWC also echoes similar sentiments on FinTech

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   75% think that the most significant impact FinTech will have is the increased focus on the customer;

   The major trends for fund transfer and payment companies are related to both increased ease and security of payments;

   Mobile smartphone adoption is one of the drivers of changing payments patterns; and

   Today’s mobile-first consumers expect immediacy, convenience, and security to be integral to payments.

Competitor Analysis | App for Splitting Restaurant Bills

There are various applications which enable users to split bills, but we have not come across any app which ties up with vendors to enable the users to pay the bill directly to vendors. Splitwise is an application which enables the users to keep a tab on the money that is owed between users pursuant to splitting, but it does not enable payments to vendors. Flypay and swipley are the similar applications which enable users to pay and split restaurant bills.

Pain Point & Target Audience | App for Splitting Restaurant Bills

The target audience for this application would be “restaurant customers looking to split the bill.” Currently, either they would pool cash and pay at the restaurant or one person would make the bill payment and then they settle among themselves later. This involves two steps and extra hassle as they need to calculate share among themselves and then transfer money between them either through cash or digital transfer. Many at times, it even becomes awkward to keep following up to settle dues between the friends.

Value Proposition | App for Splitting Restaurant Bills

This application will help the customers either split bills equally or item wise and then making the users pay the bill directly through the app, thereby reducing human interface and making the whole process easier for the customers as well as the restaurant owners. The customers can download a QR code kept on the table, and every customer that scans the QR code can see and pay the bill.

Business Model | App for Splitting Restaurant Bills

The business model for this startup will be a subscription based model where the restaurants can sign up with the startup for a fee which can be monthly or annual. The startup can also make money via sponsored advertisements on its platform.

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For the home delivery, the startup can use its platform to tie up with restaurants for ordering food and bill payment, or it can tie up with various applications which already provide the service. It can charge a percentage of the total order processed through the application that will be embedded in the food delivery app.

Way to market | App for Splitting Restaurant Bills

The first step would be to create a sleek application which is easy to use for both ends of the users, i.e., the restaurant management and the restaurant customers. The next step would be to tie up with restaurants in a city. The startup will have to choose the city carefully by first looking at cities which have a heavy dependence on outside food. Usually, metropolitan cities have heavy usage of restaurants, therefore, a city like Mumbai or Singapore or Hong Kong where most professionals live and eat out regularly would be best suited. The startup should build alliances with restaurants that are located in central business districts of a city.

Milestones | App for Splitting Restaurant Bills

The startup should offer the product to first few clients at a low cost or free to create a market and once some restaurants start using and the product gains traction it can increase its subscription fee. The startup should create awareness about the application and should target that at participating restaurants, 5-10% of the total daily sales are done through the application.

Investment Needed For Prototyping | App for Splitting Restaurant Bills

For testing & building the prototype, pitch for raising 100K USD from angel investors or incubators. There are various incubators which help fintech startups like 500 startups, Coin Apex, fintech Innovation Lab, Iaccelerate and Launchub. There should be no office rentals or salary payout; the entire budget should be apportioned for customer acquisition and technology.

Team Capability | App for Splitting Restaurant Bills

You will need a tech expert as a co-founder to create a seamless product. You would also need sales and marketing experts in your team to create awareness about the application and tie-up with the restaurants.

Investors / Expert Take | App for Splitting Restaurant Bills

According to, “Global fintech funding continues to grow. After it hit $19 billion in total in 2015, worldwide fintech funding hit $15 billion by mid-August 2016. The U.S., Europe, and the Asia-Pacific (APAC) region led the way in attracting the most fintech investment.” Flypay raised GBP 1 million in a seed round to develop the service further in 2014. Swipely has already raised 20 million for providing similar services.

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