Created:

2018-10-30

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

Related Links

https://birchfinance.com/

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

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

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WHAT OUR PARTNERS ARE SAYING

"... 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. "

"... 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."

"... 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."

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

"... 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. "

"... 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."

"... 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."

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

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CEO

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Even Financial Launches ‘Financial Products for Salesforce’ - on Salesforce AppExchange, the World’s Leading Enterprise Cloud Marketplace
EVEN
Even Financial Launches ‘Financial Products for Salesforce’ - on Salesforce AppExchange, the World’s Leading Enterprise Cloud Marketplace
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"AppExchange is constantly evolving to meet the needs of our customers, and we love watching our partners evolve alongside us."   Even has continued its rapid growth trajectory in 2020, surpassing over $3 billion in credit issued through its API, expanding its platform to over 400 partners, and was recently named as one of “America’s Best Startup Employers” by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500. Even has secured over $60+ million in funding from major financial institutions and venture capital firms, backing its goal to evolve the financial services acquisition ecosystem, with real-time, personalized search, comparison, and recommendations.   To learn more, please contact us at Partner.Salesforce@EvenFinancial.com.     About Salesforce AppExchange   Salesforce AppExchange, the world’s leading enterprise cloud marketplace, empowers companies to sell, service, market and engage in entirely new ways. With more than 6,000 listings, 8 million customer installs and 90,000 peer reviews, it is the most comprehensive source of cloud, mobile, social, IoT, analytics and artificial intelligence technologies for businesses.     Additional Resources   • Like Salesforce on Facebook: https://www.facebook.com/salesforce   • Follow Salesforce on Twitter: https://twitter.com/salesforce   • Become a fan of Even Financial on Facebook: https://www.facebook.com/evenfinancial/   • Follow Even Financial on Twitter: https://twitter.com/evenfinancial   • Keep up with Even Financial on LinkedIn: https://www.linkedin.com/company/evenfinancial/   Salesforce, AppExchange and others are among the trademarks of salesforce.com, inc.   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 (including American Express, Goldman Sachs, and SoFi) and channel partners (such as TransUnion and LendingClub) via its simple yet robust API and embeddable solutions. 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. Even was named as 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. Even has originated over $3B in credit to date.    To partner with us, click below to get started.
Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
FORBES
Even Named to Forbes’ List of “America’s Best Startup Employers” for 2021
After evaluating 2,500 American startups with at least 50 employees, Even has been named in the Top 500 of Forbes’ second annual list, which recognizes companies that stand out in: employer reputation, employee satisfaction, and growth.   Click below to see full listing.
Even Ranked Top 50 in the Deloitte Technology Fast 500
DELOITTE
Even Ranked Top 50 in the Deloitte Technology Fast 500
Even is ranked within the Top 50 on the Deloitte Technology Fast 500, a prestigious list that ranks the fastest-growing technology and life sciences companies in North America.   To see the full list of winners click the button below.