Gurgaon-based Splikart Eservices Pvt Ltd, which operates Splitkart, a mobile app that allows users to split bills and plan group outings, has ceased its operations, a person familiar with the development told VCCircle.
The company’s mobile application could not be found on both the Android and iOS marketplaces, when an attempt was made to search and install the app. The company’s desktop site was also non-operational and inaccessible.
It is unclear what caused the startup to halt operations. However, when contacted, Sharique Khan, the co-founder of Splitkart, said the firm was undergoing technical upgradations and refused to divulge further details.
“We are upgrading a few things and our people are working on it to bring it back. However, I am not sure when we will be back. It could take another 2-3 weeks. However, we will let you know in case there is a shutdown,” Khan told VCCircle over a telephonic conversation, without elaborating further.
Splitkart was founded in 2015 by Khan and Monojeet Sinha. The app allows users to split restaurant bills through a mobile wallet, besides acting as a platform for discovering deals from nearby restaurants and pubs. The app also includes social media sharing options for group planning.
In December 2015, the startup had secured an undisclosed amount in seed funding from prominent investors, including former Snapdeal product head Anand Chandrasekharan, GSF India founder Rajesh Sawhney, People Group chief executive Anupam Mittal, IndiaMART CEO Dinesh Agarwal and managing director of Macquarie Capital India Gaurav Gupta, among others.
Prior to co-founding this venture, Khan and Sinha had earlier worked together at Rocket Internet’s coupon venture, CupoNation. Khan was one of the top executives at CupoNation India, while Sinha was the firm’s country head for India, Australia and Singapore.
The broad personal finance and expense management space has some significantly funded players, including Bangalore-based personal finance management app MoneyView, which in June 2016 raised $10 million from Tiger Global, Accel Partners and Ribbit Capital. Till date, it has raised a total of $20 million.
Likewise, Pune-based expense management app Walnut has raised a total of $9 million from SAIF Partners and Sequoia Capital.