Today, at the Next Web conference, I met the founders of Scred, a Finnish startup that lets friends manage their their debts to each other. Scred is an application that makes it easy to split up tabs at restaurants or bars. You can download a mobile version to your phone, for easy bill-splitting calculations after a few rounds. Competitors include BillMonk, Buxfer, and Obopay.

But Scred has a few European twists. Managing currency conversions is no problem. If I am chipping in for a meal in Amsterdam, it can tell me how much I owe in dollars and how much my Dutch friends owe in Euros. It also lets you pool debts between friends. So if I owe you $5, and you owe our mutual friend Nancy $7, it automatically allocates my $5 to Nancy.