Created:

2019-09-04

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 2014, Even Financial is a B2B 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 security and compliance 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. Listed on the Deloitte Technology Fast 500 within the Top 50 in regards to growth within the tech industry. www.evenfinancial.com

Media Contact
media@evenfinancial.com

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Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

PROVEN SCALE & TRUST

$525B+

in consumer applications for financial services

100M+

consumer profiles generated

6.5 Million+

applicants routed monthly

AWARDS

PRESS

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HAVEN LIFE
Haven Life’s All-Digital Life Insurance Application Experience Launches on Even Financial’s Leading Life Insurance Search Engine
Even features the industry’s largest multi-carrier, all-digital life insurance marketplace
New York, New York – August 16, 2021 – Even Financial (“Even”), the leading search, comparison, and recommendation engine for financial services, has announced the launch of Haven Term and Haven Simple on its life insurance marketplace platform. Leveraging machine learning and advanced data science, Even solves a significant pain point in financial services customer acquisition by seamlessly bridging financial institutions and channel partners via its industry-leading API and embeddable solutions.   With the addition of Haven Term and Haven Simple, Even has further expanded its extensive network of premium life insurance offerings, strengthening its position as the industry’s largest multi-carrier, all-digital life insurance marketplace. Haven Life, which offers Haven Term and Haven Simple, and is backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is known for its customer-centric approach and for its commitment to making life insurance more affordable and accessible. Haven Life’s term life insurance offerings will be available on Even properties and via its wholly owned subsidiary LeapLife.   “In these uncertain times, the majority of U.S. adults want the financial security of high-quality life insurance, but are often dissuaded by the complex application process and need to complete an in-person medical exam,” said Phill Rosen, Founder and CEO of Even Financial. “Haven Life’s groundbreaking, all-digital application experience brings tremendous accessibility and peace-of-mind to consumers. We’re thrilled to welcome them to the Even platform.”   The launch of Haven Term and Haven Simple on the Even platform enables consumers to get matched with medically underwritten term life insurance policies that they can apply for and, if approved, purchase instantly online. While most Haven Term applicants will need to take a medical exam, Haven Simple applicants do not. Haven Life’s offerings expand the variety of life insurance options already available to consumers through Even’s API.   “Haven Life is committed to meeting life insurance customers wherever they are — and often, it's where they are managing the rest of their financial life," said Wade Seward, Head of Distribution Strategy at Haven Life. "On the heels of introducing even more affordable pricing for the Haven Term product, our partnership with Even Financial allows us to marry that affordability with greater accessibility to offer comprehensive financial protection to shared clients with ease and efficiency.”    Even entered the life insurance industry in 2020 through its acquisition of LeapLife, a leading insurtech and licenced life insurance agency. Since that acquisition, Even has worked with its large network of channel partners to make the process of getting personalized life insurance fast, easy, and accessible for consumers. In addition to Haven Term and Haven Simple, products offered by leading insurance companies including Lincoln Financial Group, Pacific Life, and Mutual of Omaha are available through LeapLife, Even’s life insurance platform. Companies such as TransUnion and Lantern by SoFi rely on Even’s embedded finance marketplaces to power 100% digital personalized life insurance policy quotes for their customers, with live agent support.   Even has continued its rapid growth trajectory in 2021 by reaching over $3 billion in consumer credit issued through its API and expanding its platform to over 800 partners. Earlier this year, Even was named one of “America’s Best Startup Employers'' by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world.   About Even Financial   Founded in 2014, 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 (such as SoFi) and channel partners (such as TransUnion) via its simple yet robust API and embeddable solutions. Even turns any consumer touchpoint into a comprehensive financial services marketplace with full compliance and security at scale. The company is backed by leading financial services firms and VCs, including American Express Ventures, Canaan Partners, Citi Ventures, Fidelity’s F-Prime Capital, Greatpoint Ventures, Goldman Sachs, LendingClub, and MassMutual Ventures. Learn more at www.evenfinancial.com.   About Haven Life Insurance Agency   Haven Life Insurance Agency, LLC (Haven Life) is re-thinking how people financially protect the ones they love. Haven Life is committed to delivering exceptional products, delightful purchasing experiences, and meaningful moments of service to the modern life insurance customer.

Haven Term is a Term Life Insurance Policy (ICC21 Haven Term in certain states, including NC) issued by C.M. Life Insurance Company (C.M. Life), Enfield, CT 06082. In New York (DTC-NY), and California (DTC-CA), and other states, it is issued by Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001.    Policy and rider form numbers and features may vary by state and may not be available in all states. Haven Term is available through Haven Life Insurance Agency, LLC (Haven Life), whose agency license number in California is OK71922 and in Arkansas, 100139527. Both Haven Life and C.M. Life are wholly owned subsidiaries of MassMutual.   Please note that issuing the policy or paying its benefits depends on the applicant’s insurability, based on their answers to the health questions in the application, and their truthfulness.   MassMutual and its subsidiaries C.M. Life Insurance Company and MML Bay State Life Insurance Company are rated by A.M. Best Company as A++ (Superior; Top category of 15). The rating is as of June 1, 2021 and is subject to change. MassMutual has received different ratings from other rating agencies.   Media Contact media@evenfinancial.com    
YAHOO! FINANCE
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
Even has surpassed a significant threshold in credit issued, having now facilitated over $3 billion in consumer credit as of July 2021. The milestone is significant in the financial services industry, as Even has also expanded its platform to over 800 partners.    Click below to read more at Yahoo! Finance.
PYMNTS
PYMNTS: Even Launches Embedded Finance App on Salesforce
Now, financial advisors and other businesses will have a way to leverage Even’s platform for their clients. ‘Financial Products for Salesforce’ - Powered by Even, a plug-and-play app available on the Salesforce AppExchange, matches consumers with real-time, personalized financial product offers.   Click below to read more at PYMNTS.com.