Created:

2019-09-04 23:00:00

Even Financial Announces Strategic Investments from Citi Ventures, MassMutual Ventures, and LendingClub

even-financial-announces-strategic-investments-from-citi-ventures,-massmutual-ventures,-and-lendingclub

Leading B2B2C Fintech Reaches $50 Million in Total Funding to Transform the Way Financial Institutions Find and Connect with Consumers

New York, NY – September 4, 2019 – Even Financial (“Even”), the leading API for financial services search, acquisition, and monetization, announced today that it has raised a $25 million strategic round of investment led by Citi Ventures. The round was co-led by MassMutual Ventures, with additional participation from LendingClub. Existing investors American Express Ventures, Canaan Partners, F-Prime Capital, GreatPoint Ventures, and Goldman Sachs also participated in the round. To date, Even has raised $50 million to transform the way financial institutions find and connect with consumers.

“At Even, we believe the future of financial services acquisition is native, programmatic, and highly personalized,” said Phill Rosen, Founder and Chief Executive Officer of Even. “This strategic funding will allow us to execute our vision more rapidly as we grow our network of partners, bolster our product offering, and scale our operations to continue to build the definitive search, comparison, and recommendation engine for financial services.”

Founded in 2015, Even Financial is a B2B2C fintech company that is evolving the way financial institutions find and connect with consumers. It solves a significant pain point in financial services acquisition by seamlessly connecting supply and demand via its industry-leading API, turning any consumer touchpoint into an ROI-driven, programmatic acquisition source with full compliance and security.

Since its launch, Even has experienced rapid adoption from financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion, The Penny Hoarder, Credit Sesame, Money Under 30, and Empower), and has grown its network by 250% over the past year.
With Even:

    • Financial Institutions Build Profitable Portfolios with proven lower acquisition costs, through access to the vast, high-quality, organic Even network – reaching millions of consumers with native integrations featuring programmatic purchasing, full compliance, machine learning, and data backed by over 40 million user profiles to support decisioning.
    •  
    • Channel Partners Increase Monetization with turn-key financial institution integrations across loans, savings, credit cards, and more – powered by Even’s best-in-class compliance, pricing options, controls, and machine learning optimization.

 

  • Consumers Enjoy the Optimal User Experience with the ability to search, compare, and get matched with the financial services they need instantly through Even’s industry-leading recommendation engine.


“Just as ITA’s software transformed how consumers find and book travel and DoubleClick’s exchange changed the way publishers and brands buy and sell ads, Even’s platform is revolutionizing how financial institutions find and connect with consumers,” said Luis Valdich, Managing Director of Venture Investing at Citi Ventures, who will join Even’s board of directors. “We’re thrilled to partner with Phill and the Even team to support their next phase of growth.”

 

“We’re excited to help Even accelerate its growth into insurance, through personalized product recommendations,” said Charles Svirk of MassMutual Ventures. “The investment syndicate represents marquee brands in the financial services industry, which speaks to both Even’s trajectory as a company and its recognition as the leader in API based distribution of financial products.”

“We appreciate the opportunity to participate in this financing round as we deepen our partnership with this innovative fintech provider,” said Tom Casey, Chief Financial Officer of LendingClub. “Even’s industry-leading API enables us to leverage our scale as America’s largest provider of personal loans and connect with multiple partners as we strive to improve the financial health of more borrowers.”

This latest funding will enable Even to continue to scale its industry-leading platform, including expanding into additional financial services verticals and extending the reach of its network of financial institutions, channel partners, and enterprises. The company will add solutions for mortgage, insurance, and student loan marketplaces to its platform and will continue to build out its SaaS offering. Even has nearly tripled the size of its team over the past year, adding prominent executives from tech and finance leaders such as JPMorgan Chase, Visa, Turner, Google, Taboola, Criteo, and DoubleClick, and it continues to add top talent to drive its growth strategy at a rapid pace.

About Even Financial
Founded in 2015, Even Financial is a B2B2C fintech company that is transforming the way financial institutions find and connect with consumers. By seamlessly connecting financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion, The Smart Wallet, and The Penny Hoarder) via its industry-leading API, Even turns any consumer touchpoint into an ROI-driven, programmatic acquisition source with full compliance and security across loans, savings, credit cards, and more. Even is backed by leading VCs and financial services firms including American Express Ventures, Citi Ventures, F-Prime Capital (Fidelity), Goldman Sachs, LendingClub, and MassMutual Ventures. www.evenfinancial.com

Media Contact
media@evenfinancial.com

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$400B+

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60M+

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What Our Partners are saying

Building meaningful, long-lasting relationships

"Lending Club has enjoyed a prosperous relationship with Even Financial, generating some of the highest approval rates and conversion rates among our online acquisition partners. The transparency and focus on data have allowed us to drive consistent growth and success each month."

Bill Walsh, VP Personal Loans Marketing

"Even’s technology platform provides a streamlined consumer experience, helping millennials with no collateral, budget, or saved money. Even’s impressive matching algorithms simplify the process of finding the best personal loans to meet your needs."

Kyle Taylor, CEO

"Even has built a truly modern and easy-to-use platform for the financial services marketing world. They make it easy to develop consumer-friendly, innovative products in a space dominated by legacy platforms."

Sam Yount, Founder PersonalLoanPro (Former CMO, Lending Tree)

"We are proud to partner with Even Financial. Their wide-reaching network and tech integrations bring in qualified, high-converting leads, and their team has been a pleasure to work with."

Andrew Zoeller, Digital Program Director

Press

Read all about it

Even Financial Achieves SOC 2 Type I Compliance

<div>NEW YORK, NY — July 15, 2020; </div> <div> </div> <div>Even Financial, the leading API for financial services search, acquisition, and monetization, today announced that it has successfully completed a Service and Organization Control (SOC 2) Type I examination for its industry-leading API. The audit was conducted by Schneider Downs &amp;amp; Co. and confirms that Even's security practices, policies, procedures, and operations meet the SOC 2 standards for security, availability, and confidentiality. Offering best-in-class privacy and data security goes hand-in-hand with our ability to provide superior service to our financial institution and channel partners, said Phill Rosen, Founder and Chief Executive Officer of Even. Earning a SOC 2 certification reinforces our ongoing commitment to the security, availability, and processing integrity of the Even platform.</div> <div> </div> <div>Developed by the American Institute of CPAs, the SOC 2 audit and certification requires companies to establish and adhere to strict information security policies and procedures, which can include the security, availability, confidentiality, processing integrity, and privacy of user data. Independent audits against a common standard, such as SOC 2, ensure that Even&amp;rsquo;s partners know it meets this standard to securely manage and protect their data.</div> <div> </div> <div>Founded in 2015, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. As the leading search, comparison, and recommendation engine for financial services, Even seamlessly bridges financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion and The Penny Hoarder) via its industry-leading API. Even turns any consumer touchpoint into an ROI-driven, fully customizable, programmatic acquisition source with full compliance and security at scale. Even's investors are leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, F-Prime Capital (Fidelity), Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures.</div> <div> </div> <div>Media Contact — media@evenfinancial.com</div>

Goldman Sachs-backed Even Financial, a digital matchmaker between banks and customers, just bought an insurance startup as life insurers are seeing policy applications boom

Even Financial has acquired LeapLife, a leading insurtech platform. The addition of LeapLife allows Even to immediately commence its insurance capabilities, aimed at simplifying and enhancing the way consumers search, compare, and get matched with insurance policies (LeapLife’s existing platform will continue to operate from leaplife.com). Business Insider wrote an article about it, interviewing our CEO and Founder Phill Rosen.

Even Financial Launches Insurance Offerings With Strategic Acquisition of LeapLife, a Leading Insurtech Platform

Pioneering B2B Fintech Expands its Industry-Leading Financial Services Monetization Platform to Help Insurance Carriers Find and Connect with Consumers New York, New York – April 22, 2020 – Even Financial (Even), the leading API for financial services search, acquisition, and monetization, announced today that it will be launching services for the insurance industry through the acquisition of LeapLife, an insurtech platform and digital life insurance agency.  The addition of LeapLife allows Even to immediately commence its insurance capabilities, aimed at simplifying and enhancing the way consumers search, compare, and get matched with insurance policies (LeapLife’s existing platform will continue to operate from leaplife.com). Even and LeapLife now offer the only full end-to-end, multi-carrier digital life insurance marketplace experience. Over the coming weeks, Even will further integrate LeapLife’s technology and insurance offering into its industry-leading API, making turnkey insurance marketplaces programmatically available to a vast network of channel partners — when and where their consumers are most in need — while also enabling the company to expand to other insurance sectors, including homeowners, renters and auto insurance. This adds to Even’s peerless breadth of real-time, personalized financial product offers — an expansive suite that already includes loans, savings, credit cards, and more.  “Even’s goal to evolve how financial institutions find and connect with consumers is not limited to loans or credit cards, but applicable to all financial products and services, including insurance,” said Phill Rosen, Even Founder and CEO. “Despite its importance, purchasing life insurance is often an overwhelming and inconvenient experience. With more than $600 billion in premiums paid each year, and only 6% of policies sold completely online, we see tremendous opportunities to help modernize the life insurance industry and offer solutions that solve challenges for consumers and carriers alike.”  LeapLife is an established insurtech platform and digital life insurance agency that utilizes data science, deep underwriting knowledge, and proprietary technology, enabling consumers to apply for instant-decision life insurance policies with real-time quotes. LeapLife works with many best-in-class insurance carriers to offer consumers a seamless experience from beginning to end. This approach made Even and Leaplife a perfect match. As a digital insurance broker, LeapLife offers personalized life insurance recommendations based on a consumer’s unique needs. Paired with the Even API, which enables customer acquisition for insurance to be native and programmatic, consumers benefit from a more streamlined, transparent, and highly personalized experience when shopping for life insurance.  Just as Even’s 2018 acquisition of Birch (the award-winning credit card rewards app) allowed the company to accelerate its expansion into credit cards, the addition of LeapLife will similarly put Even at the forefront of consumer insurance offerings.  Charles Svirk of MassMutual Ventures, an investor in Even, said “The Even and LeapLife teams share a vision that the future of insurance acquisition will rely on the power of data-driven, programmatic distribution. We are thrilled to support them as their industry experience, impressive technology, and trusted relationships will help scale Even’s insurance offering and build partnerships to provide these critical innovations in insurance acquisition.” The Even API and platform solve significant, long-standing pain points in financial services acquisition by seamlessly connecting supply and demand. Even has continued its rapid growth trajectory in 2020, surpassing over $1.5 billion in credit issued through its API and expanding its platform to over 400 partners. Even has secured over $55 million in funding from major financial institutions, venture capital firms, and fintechs to back its goal to evolve the financial services acquisition ecosystem.   About Even Financial Founded in 2015, Even Financial is a B2B fintech company that is transforming the way financial institutions find and connect with consumers. By seamlessly bridging financial institutions (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion and The Penny Hoarder) via its industry-leading API, Even turns any consumer touchpoint into an ROI-driven, fully customizable, programmatic acquisition source for financial product offers with full compliance, security, and scale across loans, savings, credit cards, insurance, and more. Even is backed by leading financial services firms and VCs including American Express Ventures, Canaan Partners, Citi Ventures, F-Prime Capital (Fidelity), Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Even is the leading search, comparison, and recommendation engine for financial services. Media Contact: media@evenfinancial.com