Created:

2015-03-19

Getting EVEN… – Canaan Partners

“EVEN Financial is applying lessons learned from the ad-tech industry to help consumer credit marketplace lenders programmatically acquire new borrowers. To rely on the VC crutch of “X for Y”, EVEN is building the Supply Side Platform (SSP) for the marketplace lending ecosystem (Orchard has already established itself as the Demand Side Platform DSP).

At Canaan we believe that marketplace lending will continue to grow rapidly – consistently taking share from traditional providers of credit (big banks, credit card companies, etc.) because of its fundamental cost advantages and superior technology.

We are early investors in the leaders in the space: Lending Club (consumer unsecured – Series A); Realty Mogul (commercial real estate – Series A); Borro (consumer secured – first U.S. round). As the marketplace lending ecosystem evolves there will be opportunities to sell “picks and shovels” to the participants who are cashing in on the massive disruption occurring in the financial system. We invested in Orchard to help build a platform that makes it more efficient for institutional investors to put money to work across multiple platforms. We have spent the last year searching for a platform to help connect origination platforms to borrowers more efficiently – then we found EVEN.

EVEN Financial is applying lessons learned from the ad-tech industry to help consumer credit marketplace lenders programmatically acquire new borrowers. To rely on the VC crutch of “X for Y”, EVEN is building the Supply Side Platform (SSP) for the marketplace lending ecosystem (Orchard has already established itself as the Demand Side Platform DSP). EVEN will partner with existing lead generation platforms and tie in ad-tech data sources. With this data, EVEN is able to create a robust profile and connect a borrower to the appropriate origination platform — lowering the cost for the origination platforms while also increasing the supply of borrowers.

As with all our investments, we’re very excited to be working with the team at EVEN. Ian Rosen was one of the first checks into Orchard (before us!) and has been passionate about marketplace lending for years. Phil Rosen (no relation to Ian) was on the founding team at Orchard, and knows the space well. And Jarid Maged spent six years at AdMeld helping the leading SSP. This is the team we’ve been looking for.

Welcome to the Canaan family. We are excited to be partnering with you, and look forward to helping you make some big changes to the U.S. financial system.

(Originally Published March 2015)” – Written By Canaan

Click Here To Read The Article At Canaan Partners

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

What our partners are saying

"Even enabled MoneyLion to... streamline our user experience, serve a broader set of our customers, and improve key monetization metrics... driving 4x+ growth since launch."

"By implementing Even’s technology, we have been able to build a multi-vertical financial marketplace and more than double revenue and engagement."

"Even has been one of our biggest drivers of growth within our personal loans vertical, and they have made it easy and flexible to provide our users the best personalized loan offers for their needs."

"... 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."

"Even enabled MoneyLion to... streamline our user experience, serve a broader set of our customers, and improve key monetization metrics... driving 4x+ growth since launch."

"By implementing Even’s technology, we have been able to build a multi-vertical financial marketplace and more than double revenue and engagement."

"Even has been one of our biggest drivers of growth within our personal loans vertical, and they have made it easy and flexible to provide our users the best personalized loan offers for their needs."

"... 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."

Michael Bourgeois
Michael Bourgeois
Business Lead

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Read all about it!

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Yahoo! Finance
Yahoo! Finance: Even Financial Reaches $3 Billion In Credit Issued Milestone
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PYMNTS
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