Created:

2018-10-30 00:00:00

Even Financial to Acquire Birch Finance

even-financial-to-acquire-birch-finance

NEW YORK, Oct. 30, 2018 — Even Financial (“Even”), the leading search, comparison and recommendation engine for financial services, announced today that it is acquiring Birch Finance (“Birch”), an award-winning personal finance app that helps everyday consumers find the best credit cards and optimize their rewards.

Birch is a San Jose-based technology startup that offers a mobile and web application that makes finding the right credit cards painless. Its core recommendation engine analyzes a user’s real transaction history and compares it against hundreds of credit cards and their respective reward programs to determine the optimal set of cards that individuals should have in their wallet. Birch compares over 200 of the top credit cards to provide unbiased recommendations. The company has received several awards, including “Best in Show” at FinCon’s FinTech Startup Competition last year, and was featured at TechCrunch Disrupt.

“The credit card market continues to expand with millions of consumers opening up hundreds of different types of credit cards every year for countless reasons,” said Phillip Rosen, Chief Executive Officer and Co-Founder of Even Financial. “Birch already has one of the largest credit card databases and their technology perfectly complements our existing platform as we expand our offering to the credit card space. This acquisition will allow our partners to optimize the process of getting the right cards to the right consumers.”

Even provides essential infrastructure for financial services and channel partners to connect consumers with personalized products, utilizing its robust yet simple API. Even is proven to lower cost of acquisition, improve monetization, monitor compliance and deliver transparency at scale. Through its platform, Even 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.

Even will leverage Birch’s award-winning, consumer-facing app to build industry-leading customer acquisition technology in the credit card market. Even’s existing partner distribution network will allow the combined company to save on consumer acquisition while simultaneously scaling its credit card recommendation technology.

“We saw a clear synergy with Even’s business strategy and growth plans, and I’m thrilled to join Even’s team as we expand and scale our offerings into new areas,” said Alex Cohen, Chief Executive Officer of Birch Finance.

Effective immediately, Mr. Cohen will assume the role of Senior Director, Credit Card Marketplace, Even Financial.

This is another milestone in the fast growth of Even. In August, the company announced an $18.8 million Series A funding round Led by GreatPoint Ventures. American Express Ventures, Goldman Sachs, NerdWallet co-founder Jacob Gibson and Jason Owen, Senior Vice President and General Manager at Credit.com are some of the notable investors working with Even.

About Even Financial
Founded in 2015, Even Financial, an NYC based fintech company, is the leading search, comparison and recommendation engine for financial services. Even provides essential infrastructure for financial services and channel partners to connect consumers with personalized products, utilizing its robust yet simple API. Even is proven to lower the cost of acquisition, improve monetization, monitor compliance and deliver transparency at scale. The Even platform serves as a trusted intermediary for financial institutions – including Prosper, Lending Club and Marcus by Goldman Sachs – that helps find consumers through its vast network of channel partners and distribute their products digitally.

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

Media Contact:
Cristina Martinez
Prosek Partners for Even Financial
cmartinez@prosek.com
(646) 801-3984

SOURCE Even Financial

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Read more at: https://techcrunch.com/2018/10/30/even-financial-acquires-birch-finance-a-credit-card-rewards-startup/

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"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."

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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