Tilt, a Silicon Valley social money exchange start-up valued at more than $500 million, will expand to Australia, enabling individuals to chip in to pay for group activities.

The company, which has raised $US67 million ($87 million) in funding from renowned venture capital firms including Andreessen Horowitz, SV Angel and investor Sean Parker, will set up shop in Sydney, with the office being viewed as a potential headquarters for Asia Pacific expansion.