You can make six figures and still find yourself staring at the calendar, waiting for payday.
That’s the problem Miami-based Split Pay wants to fix. Now, it’s clear that investors are also sold on the idea.
The fintech startup has raised $125 million across back-to-back Series A and Series B rounds, Axios reported, 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.
“Banks move money, we move time,” the company wrote in their announcement on LinkedIn.
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’s due while the company fronts up to 50% for as long as 30 days.
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.
Around one million people have signed up, with roughly a quarter using Split Pay each month.
Behind that simple consumer pitch is a much more technical one: Split Pay thinks AI can make better lending decisions. “We 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,” co-founder and CEO Andrew Borovsky [pictured above], a former Block and Cash App executive, shared.
That work also helped the company spot something surprising about its customers.
“What 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,” Borovsky added.
In Split Pay’s 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.
Along the way, Split Pay has built a heavyweight investor roster. “Incredibly grateful to Joshua Kushner, Vinod Khosla, and Samir Kaul for believing in us from day one,” Borovsky wrote on LinkedIn. “Max Levchin and Nellie Levchin pushed us to think bigger earlier.”
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’s model could eventually extend across more of the big expenses that make monthly budgets feel tight even when the underlying income is there.
For a company built around buying people a little more time, Split Pay itself appears to be moving pretty quickly.
READ MORE IN REFRESH MIAMI:
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- Koywe’s answer to slow international payments started with a lifelong friendship – September 9, 2026
- Split Pay raises $125M to give your paycheck better timing – September 9, 2026
- PRIMA raises $5M to turn hot tables into a referral business – September 4, 2026
