Created:

2018-08-07

Even Financial Secures $25 Million in Capital Raise

Series A Round Led by GreatPoint Ventures Totals $18.8 Million

 

New York, NY — August 7, 2018 — Even Financial (“Even”), a fintech company that is evolving the consumer financial services ecosystem with its leading recommendation engine and acquisition platform, announced today that it has raised $18.8 million in Series A funding led by GreatPoint Ventures. The round includes participation from Goldman Sachs, Canaan Partners, F-Prime Capital, Lerer Hippeau and notable investors, including NerdWallet co-founder Jacob Gibson and Jason Owen, Senior Vice President and General Manager at Credit.com. The Series A financing includes a previously announced investment of $3.3 million secured in January from American Express Ventures, Arab Angels, Plug and Play Ventures and Valuestream Ventures. The Series A comes after Even’s $6.2 million seed round, totaling $25 million in funding for the company to date. The new funds will be used to continue to accelerate growth and tackle new product verticals, including deposits, credit cards and mortgages.

 

Even’s recommendation API acts as a trusted intermediary between banks and third parties – such as personal finance websites, apps and points of sale – to offer optimal financial product recommendations, and has been growing rapidly over the last year. Each month, over three million consumers transact across the Even network to be matched with the right financial products.

 

“While the online financial services ecosystem is growing rapidly, the infrastructure for financial institutions to distribute their products digitally remains fractured and a bottleneck to growth,” said Phillip Rosen, Chief Executive Officer and Co-Founder of Even Financial. “It is challenging for financial institutions to connect with consumers, and for people to find the right financial products for their needs. The funds secured with our Series A will allow us to continue to expand our API, which fills that gap within the ecosystem.”

 

“We’ve been extremely impressed with Even Financial from day one,” said Mike McCormick Associate Partner at GreatPoint Ventures. “As we learned more about Even, it became clear that they are on an inside track to become a dominant player in the financial services industry.”

 

Even’s industry-leading search, comparison and recommendation API functions as an infrastructure layer that enables a wide range of over 150 partners – companies like Credit.com, The Penny Hoarder, Transunion and Empower – to connect and monetize their audience with optimal product recommendations and real-time decisions from financial institutions, such as Prosper, Lending Club and Marcus by Goldman Sachs.

 

Even’s platform works by evaluating consumers on a rich set of criteria to determine the ideal financial product fit. Consumer data is sourced, verified and enhanced by machine learning to create a robust profile that allows financial institutions to easily match consumers in real-time to the optimal product for their needs. This reduces their acquisition cost and simultaneously increases their supply of qualified consumers with greater monetization.

 

About Even Financial

Founded in 2015, Even Financial is an NYC based fintech company focused on evolving how financial institutions connect with consumers and provide them the best product recommendations at the right moment, facilitating an on-demand and personalized customer acquisition experience across the entire financial services ecosystem. The Even platform serves as a trusted intermediary for financial institutions – including Prosper, Lending Club and Marcus by Goldman Sachs – that helps find consumers and distribute their products digitally. Even’s industry-leading search, comparison and recommendation API is an infrastructure layer that enables hundreds of diverse partners – including Credit.com, Transunion, Money Under 30, Credit Sesame and The Penny Hoarder – to power comprehensive personal finance websites, mobile apps and other offerings with a modern platform that is proven to accelerate customer acquisition through optimal product recommendations, lowering cost of acquisition and maximizing monetization.

 

To learn more about Even Financial, please visit: www.evenfinancial.com.

 

Media Contact:

Cristina Martinez

Prosek Partners for Even Financial

cmartinez@prosek.com

(646) 801-3984

Read More

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

Read all about it!

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.