When it comes to splitting bills, one major stumbling block is that someone usually has to pay upfront and chase everyone to pay them back. With Y-Split, you can split and pay your utility, phone, subscription, and restaurant bills automatically in one place, so you don't have to stress about splitting and getting paid later.
Y-Split, a Y Combinator-backed firm, is developing a financial software app to make it simpler for groups to pay jointly.
Y-Split founders Tunde, Boateng, and Landon are hailed as among the most successful young entrepreneurs of today and for good reason. What started as a handy business to make their life easier is set to be one of the biggest expense splitting apps in the country
Tracing the career trajectories of the founders:
Tunde Alao is the CEO of Y-Split, a company that develops infrastructures and frameworks optimized for co-payments. He co-founded Y-Split along with two friends right out of college, and along with his fellow tech entrepreneurs, he works full time on enabling his novel payments splitting solutions to reach a global audience through Y-Split. Before starting this business, he worked as a software engineer for Google and created one of the most famous YouTube programming tutorial channels (Tonikami TV).
Tunde participated as a judge at the 2020 CEO awards, as well as the 12th annual 2020 Golden Bridge Awards.
Boateng is a software engineer and technology entrepreneur as well as the CTO of Y-Split. He received one of the two Google Creative Technology Awards at the National Science and Engineering Competition in the United Kingdom, in 2015 while he was studying in the UK. Boateng is credited with developing Y-Split's technological infrastructure and for that, he is considered an expert in the field. Thanks to his tech acumen, the company was recognized with substantial funding from top-tier accelerators.
Landon is the third co-founder of Y-Split. He is not just a fantastic coder with a strong understanding of design and marketing but has also a deep understanding of the business side of the product. While still at university, he worked for IBM as a consultant. Shortly after, he joined Tunde and Boateng to form Y-Split. At Y-Split, Landon is not only a strategic leader and visionary but is also an advocate of the company's products. Armed with massive experience and extensive connections, Landon has been successfully navigating the company's development. His extensive experience allowed the company to join highly inclusive professional organizations including participating in Y-Combinator.
The Creation of Y-Split:
"Boateng and I both interned at Google in Mountain View, California, and we shared a house as well. We had a few of the typical aggravations that arise with sharing a home. Yet, we could not find a decent way to make roommate life easier, so we started working on it on the side during our internship. We built an app called Cluttr, and we expanded it to more than 30,000 users. With time, Apple selected it as the App of The Day. We noticed the splitting payment feature was the most popular part of the Cluttr app that we had worked on when we were interns at Google, so we decided to focus our efforts on solving the problem of people owing money to each other. So, we created the first Y-Split card, which links to multiple bank accounts, so when it is charged, everyone is charged their share separately", says the CEO of Y-Split, Tunde Alao.
In the words of Landon, "I entered the picture after hearing about Tunde and Boateng's frustrations with their roommate relationships and issues. Cluttr was the name we gave it. Cluttr gave birth to Y-Split because of an even bigger problem that we noticed: unresolved money disputes between roommates. We knew this was a significant problem that no one was addressing. Before Y-Split and meeting Tunde or Boateng, I was working on another idea of mine. It was merely a pretext for me to learn to code. To learn Android production, I went to YouTube and started with tutorials from a channel called Tonikami. Tunde was the Youtuber in question. This is how, unintentionally, I met Tunde."
Y-Split's Unique features that everybody enjoys!
The most special feature of the Y-Split app is the card feature that routinely permits the users of the app to divide one-time payments like rations with flatmates, takeaways with mates, and trips. With over 140 ratings on the app store with an average of 4.7 stars, Y-Split is turning out to be quite an essential app.
Words of Advice from the founders to aspiring entrepreneurs!
Tunde: Make decisions that aren't scalable. Doing things that don't scale entails writing code that you aren't proud of but can be published in days rather than weeks. Fast shipping means you'll get reviews right away and be able to make minor adjustments to ensure your product is on track.
Landon: To build a company is like a marathon. One important piece of advice is to speak with other founders who are in a similar position to you. This both motivates and grounds me. You'll learn something different, and you'll know that what you're going through is similar to what most other entrepreneurs are going through. The camaraderie is extremely strong, and it can lift you out of any pit you may find yourself in.
Boateng: Stop relying on the opinions of others, such as investors and board members. It takes time to find out what you have and how to make it work while you're starting something new. To make the study easier, we all want to reduce our company to a basic analogy., and some young entrepreneurs take too long to realize that only the customers' opinions matter in the end. users.