{"id":394735,"date":"2026-09-09T12:52:10","date_gmt":"2026-09-09T12:52:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/394735\/"},"modified":"2026-09-09T12:52:10","modified_gmt":"2026-09-09T12:52:10","slug":"split-pay-raises-125m-to-give-your-paycheck-better-timing","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/394735\/","title":{"rendered":"Split Pay raises $125M to give your paycheck better timing"},"content":{"rendered":"

You can make six figures and still find yourself staring at the calendar, waiting for payday.<\/p>\n

That\u2019s the problem Miami-based Split Pay<\/a> wants to fix. Now, it\u2019s clear that investors are also sold on the idea.<\/p>\n

The fintech startup has raised $125 million across back-to-back Series A and Series B rounds, Axios reported<\/a>, with Khosla Ventures leading both. Thrive Capital and PayPal co-founder Max Levchin also participated, following a year in which Split Pay claims to have grown 70x.<\/p>\n

\u201cBanks move money, we move time,\u201d the company wrote in their announcement<\/a> on LinkedIn.<\/p>\n

The idea is straightforward. Big bills such as rent and mortgages tend to arrive once a month. Paychecks often arrive twice. Split Pay bridges that gap, allowing users to pay their full bill when it\u2019s due while the company fronts up to 50% for as long as 30 days.<\/p>\n

The service costs 2% of the total bill plus a $10 monthly subscription, with no interest or late fees. It can also be used for student loans and car payments.<\/p>\n

Around one million people have signed up, with roughly a quarter using Split Pay each month.<\/p>\n

\u2713<\/p>\n

Check your inbox for a confirmation email.<\/p>\n

Behind that simple consumer pitch is a much more technical one: Split Pay thinks AI can make better lending decisions. \u201cWe believe that AI is going to blow up underwriting, so we spent our first two years like a lab building a new foundation model focused on people under 40,\u201d co-founder and CEO Andrew Borovsky [pictured above], a former Block and Cash App executive, shared.<\/p>\n

That work also helped the company spot something surprising about its customers.<\/p>\n

\u201cWhat we found was that our average consumer had $90,000 of income and generated around $2,100 in cashflow, but was still struggling and living paycheck-to-paycheck. The biggest reason was the timing of bills,\u201d Borovsky added.<\/p>\n

In Split Pay\u2019s view, that makes timing itself a financial product. The company started with a $15 million seed round in 2023, followed by a $25 million Series A last fall and roughly $100 million for its Series B, Axios reported.<\/p>\n

Along the way, Split Pay has built a heavyweight investor roster. \u201cIncredibly grateful to Joshua Kushner, Vinod Khosla, and Samir Kaul for believing in us from day one,\u201d Borovsky wrote<\/a> on LinkedIn. \u201cMax Levchin and Nellie Levchin pushed us to think bigger earlier.\u201d<\/p>\n

Split Pay is already looking beyond rent. A Visa credit card is reportedly coming soon, according to Axios, with a low APR and no rewards program. The company\u2019s model could eventually extend across more of the big expenses that make monthly budgets feel tight even when the underlying income is there.<\/p>\n

For a company built around buying people a little more time, Split Pay itself appears to be moving pretty quickly.<\/p>\n

READ MORE IN REFRESH MIAMI:<\/p>\n

\"Riley<\/a> <\/p>\n

I am a Miami-based technology researcher and writer with a passion for sharing stories about the South Florida tech ecosystem. I particularly enjoy learning about GovTech startups, cutting-edge applications of artificial intelligence, and innovators that leverage technology to transform society for the better. Always open for pitches via Twitter @rileywk or www.RileyKaminer.com.<\/p>\n

\"Riley<\/a>Latest posts by Riley Kaminer (see all<\/a>) \t<\/p>\n","protected":false},"excerpt":{"rendered":"You can make six figures and still find yourself staring at the calendar, waiting for payday. That\u2019s the…\n","protected":false},"author":2,"featured_media":394736,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226],"class_list":["post-394735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/394735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=394735"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/394735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/394736"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=394735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=394735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=394735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}