• by Laurie Sullivan , Staff Writer @lauriesullivan, March 4, 2015

RadPad on Wednesday will release a feature in its mobile app that allows renters to split the rent among roommates and pay electronically through the application.

Here's how it works. One roommate sets up the rent payment account and invites the other roommates. They accept the invitation and input their own debit or credit card information. RadPad splits the payments among each of the roommates depending on how much they pay. Each roommate can see what and when the others pay. "I have a roommate, so I sort of built this for myself," said Jonathan Eppers, RadPad founder. "You never have to nag your roommate again."

Eppers worked at eHarmony.com when he thought of the idea. The platform, RadPad, would bring automation of rent payments or rental applications into the mix. About 80% of renters on RadPad are between the ages of 21 and 34. Almost 45% of renters pay on RadPad with a credit card and 55% with a debit card. The average payment for renters using RadPad is $1,550 per month.

On the roadmap scheduled for release within the next two months, a pre-qualification tool provides landlords with more information about prospective renters such as whether they smoke or have pets, as well as their name, phone number, annual income, and access to view their social profiles. The app also enables renters to search for properties by city, features and more.

In the past two years, RadPad raised $4 million and hopes to announce the close of a Series A funding "soon," but gave few details. When asked what the company will do with the funding, Eppers said start thinking more local through what he calls "community managers" to connect with the targeted renters demographic and get the word out about the app. "It's been very effective in L.A., Chicago, and D.C.," he said.