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Better Borrowers, Better Returns – Social Leverage on Even Financial Investment
EVEN
Better Borrowers, Better Returns – Social Leverage on Even Financial Investment
As the economy recovers, investors are seeking new avenues for solid returns. One popular option is to lend on peer-to-peer marketplaces like Prosper, LendingClub, Funding Circle, and Kabbage. These services offer borrowers affordable personal and business loans, and promise better returns for lenders. However, most people may not realize that supplying the marketplace with investment opportunities is more difficult than attracting investors to fund those loans. Each marketplace looks for a slightly different profile from their ideal borrower. They end up struggling to find the right borrowers, and discard most of their leads during the qualification process. I’m thrilled to announce our investment in the EVEN Financial team to solve this very problem. EVEN Financial’s technology affordably sources, verifies, and creates a comprehensive profile of borrowers. Using this information, they programmatically match borrowers with the most compatible lending platform and reduce lead costs. I love the win-win-win value proposition. The marketplace gets its supply, lenders get more opportunities, and borrowers get loans more efficiently and effectively. The EVEN team has a deep background in marketplace lending and we’ve enjoyed working with them in the past. Through StockTwits, I’ve had the pleasure of working with Ian Rosen (CEO) when he was the General Manager at MarketWatch. Social Leverage previously backed Orchard Platform, where CTO Phill Rosen (no relation to Ian Rosen) was a co-founder, and we’re excited to be working with him again. Jarid Maged, EVEN’s third co-founder is an ad-tech supply-side infrastructure vet. I’m confident that Ian, Phill, and Jarid are going to knock it out of the park!
SmartAsset Teams Up With EVEN Financial to Help Consumers Find Best Personal Loans
EVEN
SmartAsset Teams Up With EVEN Financial to Help Consumers Find Best Personal Loans
July 23, 2015 @ 10:35 am By Samantha Hurst SmartAsset, a personal finance technology company, and EVEN Financial, a supply-side platform for Marketplace Lending, today jointly announced a strategic partnership aimed at helping consumers find the best personal loans. Ian Rosen, EVEN Financial CEO, explained: “Our tools allow companies like SmartAsset to easily offer their users appropriate loan options that are suited to their situation and needs. SmartAsset visitors will have the ability to enter information and receive a list of lenders that are good candidates for them to work with.”   This partnership gives consumers on SmartAsset access to the best content and tools to help them find personalized loan options suited to their needs. Users can also access the EVEN Financial platform, which matches borrowers with appropriate lending platforms and products. SmartAsset provides transparent, automated, and accurate advice on financial topics from home-buying, retirement planning, student loans, and others, and through this partnership with EVEN Financial, now personal loans as well. Michael Carvin, CEO of SmartAsset, added: “Our suite of tools and content equip our users with the trusted information needed to make big financial decisions. Partnering with EVEN Financial makes it easier to offer the right personal loan products to our users within that framework.”    
Canaan Partners: There is a Fundamental Disruption in Financial Services Occurring Right Now – Crowdfund Insider
CROWDFUND INSIDER
Canaan Partners: There is a Fundamental Disruption in Financial Services Occurring Right Now – Crowdfund Insider
Canaan Partners, one of the Sandhill Road posse in Silicon Valley, is a VC firm that has moved big into the alternative finance space. With over $4.2 billion under management they have the fire power, and the tool kit, to move quickly into promising, early stage companies.  Canaan targets two sectors; Technology and Healthcare companies which are based mainly in the US, India and Israel. Canaan leans towards seed and early stage funding with about 80% of its investments targeting early rounds. In 2014 they had 5 “unicorns” or VC home runs. But within the Tech vertical is the subcategory of FinTech – one of the hottest investment sectors over the past several years. The poster child for FinTech success is arguably LendingClub which stands as the 4th largest US internet IPO ever.  Zero to multi-billions in about 6 years, the financial firm was started by Renaud Laplanche back in 2006 when he was comparing the disconnect between rates paid by credit card holders and interest earned by savers at banks.  Canaan Partners led the Series A for $10.26 million back in 2007 – an investment that would qualify as knockout success.  It has been estimated that Canaan partners got into Lending Club for around $0.27 per share.  Sure they had to wait a few years to cash in but a 55X or so return was probably worth it.
Canaan continues to be engaged with Lending Club and General Partner Dan Ciporin is on the board.  He has also taken board seats on several other FinTech startups in which Canaan has an interest. In a presentation at the LendIt conference held earlier this month Ciporin spoke about the success and ongoing opportunity of marketplace lending. While this sector is measured in mere billions today – most industry followers believe the numbers will soon be measured in trillions. But the main focus of his presentation was real estate and the emerging opportunity for crowdfunding platforms to disrupt the traditional financing structure.  He closed by saying the old world [of finance] is gone. Since the fortuitous investment in Lending Club, Canaan has participated in funding rounds of multiple, innovative online financial platforms including: Borro, CircleUp, EVEN Financial, Orchard,Realty Mogul and others. From crowdfunding to peer to peer to services – Canaan is spanning the spectrum of disruptive finance. CLICK HERE TO READ THE FULL ARTICLE AT CROWDFUND INSIDER
Getting EVEN… – Canaan Partners
CANAAN
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
P2P Lenders Becomes Latest Industry to Attract Affiliates – Finance Magnates
FINANCE MAGNATES
P2P Lenders Becomes Latest Industry to Attract Affiliates – Finance Magnates
Last week we posted about the launch of Even Financial, a P2P lending firm focused on the supply side of the industry. Their goal is to bring added efficiency to attracting borrowers (supply) to use P2P lending platforms for sourcing their loans. Even Financial’s launch occurrs as their CEO Ian Rosen explained to Forex Magnates that currently investors outstrip borrowers by a four to one ratio in the sector. CLICK HERE TO READ THE FULL ARTICLE AT FINANCE MAGNATES
The Daily Startup – Wall Street Journal
WALL STREET JOURNAL
The Daily Startup – Wall Street Journal
EVEN Financial, a startup that is providing a service to the growing group of online lenders, has raised a $2.8 million seed round. CLICK HERE TO READ THE FULL ARTICLE AT WALL STREET JOURNAL
Term Sheet — Friday, March 13 – Fortune
FORTUNE
Term Sheet — Friday, March 13 – Fortune
Term Sheet — Friday, March 13 CLICK HERE TO READ  THE FULL ARTICLE AT FORTUNE
Even Financial Secures $2.8M in Funding Led By Canaan Partners to Better Connect Lending Marketplaces with Borrowers – Even
EVEN
Even Financial Secures $2.8M in Funding Led By Canaan Partners to Better Connect Lending Marketplaces with Borrowers – Even
Top investors back first-of-its-kind platform that helps peer-to-peer lending marketplaces obtain more and higher-quality borrower leads New York, NY — March 12, 2015 — EVEN Financial today announced it has raised $2.8M in seed funding. The round was led by Canaan Partners, who also led the first venture-backed investment rounds for Lending Club and Orchard Platform in the P2P lending market. Other investors include Lerer Hippeau Ventures, Ron Suber of Prosper, Brooklyn Bridge Ventures, Conversion Capital, Social Leverage, 555 Capital, Jon Kelfer of Orchard Platform, and other angel investors. These funds will be used to improve the supply side infrastructure of peer-to-peer (P2P) lending marketplaces, starting by helping to more effectively identify and match suitable borrowers with the right lending platform. While the P2P lending ecosystem is growing rapidly, with more than 100 marketplace lending originators in the US alone, the supply side infrastructure remains fractured and a bottleneck to growth. Specifically and initially, it remains difficult for would-be lenders to find the right borrowers and for borrowers to find the right loan originator for their financial needs. “Lending platforms today are confronted with huge hurdles in obtaining the right borrowers,” said Ian Rosen, CEO & co-founder of EVEN Financial. “Platforms are using a variety of marketing tactics to attract borrowers, but end up discarding most borrower leads during the qualification process. Our platform works to match borrowers with the most compatible lending platform at the lowest possible cost.” With EVEN Financial, online marketplaces for credit like Prosper have access to more borrowers that are not only well matched in terms of credit risk, but who are also appropriate to the specific products each platform is selling. “New platforms like EVEN are a huge step forward for the Marketplace Lending industry,” said Ron Suber, president of Prosper. “By giving access to vetted borrower leads, EVEN Financial serves as a perfect complement to lending platforms as it allows us to focus on pricing, credit, risk, underwriting and loan funding.” EVEN Financial’s platform works by evaluating borrowers on criteria such as credit and platform fit. Borrower leads are sourced, verified, and enhanced with data to create a robust profile that allows lenders to easily match with borrowers that will be the best fit for their individual platform, reducing their costs. This is combined with an increase in the supply of borrowers to the marketplace, creating a more cost-effective way for lenders to engage with well-suited borrowers. The EVEN team has deep background in relevant areas, including CTO Phill Rosen, former co-founder of Orchard Platform, CPO Jarid Maged, a former senior product executive from Admeld/Google, and CEO Ian Rosen, former GM of MarketWatch. “As the demand for P2P finance rapidly grows, we see a huge opportunity to capitalize on the supply-side of the ecosystem,” said Brendan Dickinson, principal at Canaan Partners, who will be joining the Board. “Canaan has seen great success investing in other innovative FinTech marketplaces like Lending Club and Orchard, so we’re thrilled to be backing EVEN Financial as they accelerate the disruption of traditional finance.” To learn more, visit https://evenfinancial.com/. About EVEN Financial EVEN Financial was founded with a mission of providing borrowers with better access to the marketplace ecosystem and giving lending platforms more advanced borrower acquisition and engagement tools. EVEN Financial seeks to support the exploding growth of personal lending by offering a viable solution to matching demand with supply. In the new era of P2P finance, EVEN Financial is building the industry’s most robust Supply Side Platform (SSP) for Marketplace Lending, to match the rapidly growing demand for marketplace debt with qualified borrower pools and originator tools. EVEN Financial significantly reduces the cost of underwriting and enables originators to focus on deploying capital effectively. The company is based in New York, NY. Media Contact: Lauren Barlow VSC for EVEN Financial lauren@vscconsulting.com (415) 677-9125
Finance Magnates
Even Financial Emerges from Stealth Mode to Boost Supply to P2P Lending Marketplaces – Finance Magnates
Even Financial is coming public today with supply side focused P2P lending infrastructure. The firm aims to bring equilibrium to the P2P marketplace where lenders outstrip borrowers by a 4 to 1 ratio. Emerging from stealth mode, Even Financial is coming public today to reveal their P2P lending marketplace product, as well as announcing that it has secured $2.8 million in seed funding. Aiming to bring value to marketplace lending, Even Financial is focusing on boosting the supply side of the business. CLICK HERE TO READ THE FULL ARTICLE AT FINANCE MAGNATES
VATOR
Lending platform EVEN Financial raises $2.8M seed round – Vator
EVEN Financial wants to improve P2P lending marketplaces by better matching borrows and lenders. Lending platforms face a number of challenges, the biggest of which is obtaining borrowers that are right for each of their specific offerings. P2P lenders are currently using a variety of marketing tactics to attract borrowers, but they will often end up throwing out nearly the vast majority of borrower leads during the qualification process simply because they aren’t a good fit. CLICK HERE READ THE FULL ARTICLE AT VATOR
XCONOMY
EVEN Financial Comes Out of Stealth with $2.8M from Canaan, Others – Xconomy
Stepping from the shadows, EVEN Financial—based in New York—is putting money it raised towards becoming a fixture in the fast growing peer-to-peer lending market. The startup came out of stealth today with $2.8 million in a round led by Canaan Partners, with Brooklyn Bridge Ventures, Conversion Capital, Social Leverage, 555 Capital, and Lerer Hippeau Ventures participating. Individual investors Rob Suber, president of Prosper; and Orchard Platform’s Jon Kelfer also backed EVEN. CLICK HERE TO READ THE FULL ARTICLE AT XCONOMY
PEHUB
Lending Platform EVEN Financial scores $2.8M seed - PE Hub
New York City-based lending platform EVEN Financial has secured $2.8 million in seed funding.Canaan Partners led the round with participation from other investors that included Lerer Hippeau Ventures, Brooklyn Bridge Ventures, Conversion Capital, Social Leverage and 555 Capital. PRESS RELEASE New York, NY — March 12, 2015 — EVEN Financial today announced it has raised $2.8M in seed funding. The round was led by Canaan Partners, who also led the first venture-backed investment rounds for Lending Club and Orchard Platform in the P2P lending market. Other investors include Lerer Hippeau Ventures, Ron Suber of Prosper, Brooklyn Bridge Ventures, Conversion Capital, Social Leverage, 555 Capital, Jon Kelfer of Orchard Platform, and other angel investors. CLICK HERE TO READ THE FULL ARTICLE AT PE HUB

PROVEN SCALE & TRUST

700B+

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175M+

consumer profiles generated

9M+

applicants routed monthly

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MoneyLion
MoneyLion Completes Acquisition of Even Financial, the Category Leading Embedded Finance Marketplace
NEW YORK, NY, February 17, 2022--(BUSINESS WIRE)--MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the award-winning digital financial platform, has completed its acquisition of Even Financial Inc. (“Even”), the category-leading embedded finance marketplace. The acquisition strengthens MoneyLion’s platform by improving consumers’ abilities to find and access the right financial products to help them manage their financial lives through Even’s network, spanning over 400 financial institution partners and 500 channel partners and covering a breadth of financial services including loans, credit cards, mortgages, savings and insurance products. The acquisition increases MoneyLion’s distribution capabilities, diversifies its revenue composition and is expected to be accretive to MoneyLion’s earnings, with Even expected to add positive EBITDA in 2022, excluding synergies. “With this transaction, we have combined MoneyLion’s powerful first-party products and open architecture marketplace with Even’s dynamic recommendation engine and expanding partner network to broaden the range of products and services within the MoneyLion platform,” said Dee Choubey, co-founder and CEO of MoneyLion. “In doing so, we have enhanced our product leadership to position MoneyLion as a ‘must have’ consumer finance product for hard-working Americans. Together, MoneyLion and Even will improve existing consumers’ financial lives and expand our aperture to service a new segment of consumers. Together with our current capabilities, we are well positioned to advance our leading position in hyper-personalized lifestyle content and financial recommendations.” Phillip Rosen, founder and CEO of Even commented, “At Even, our vision has always been to revolutionize how consumers receive recommendations for financial services. Through a combination of machine learning expertise and our trusted user experience, Even has helped over 400 financial institution partners find and connect with consumers. Going forward, we are excited to play an integral role in powering MoneyLion’s fast-growing Marketplace and offer MoneyLion’s suite of products to our channel partners.” MoneyLion and Even have completed the first phase of their product integration, with over 60 solutions providers from Even’s network now represented in MoneyLion’s Marketplace across personal loans, life insurance, auto insurance, homeownership and other services. Even will continue to operate as an independent subsidiary of MoneyLion, led by Even’s current management team. Phillip Rosen will continue in his role as CEO of Even and will join MoneyLion’s executive committee. Evercore served as financial advisor and Davis Polk & Wardwell LLP as legal advisor to MoneyLion. Broadhaven served as financial advisor and Goodwin Procter LLP as legal advisor to Even. For additional information about the acquisition, please review the investor presentation. About MoneyLion MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Since its launch in 2013, MoneyLion has engaged with millions of hard-working Americans and has earned its members’ trust by building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can get a 360-degree snapshot of their finances and have access to personalized tools, content and offers designed to improve their financial lives. MoneyLion is headquartered in New York City, with offices in Sioux Falls and Kuala Lumpur, Malaysia. MoneyLion has achieved various awards of recognition including the 2020 Forbes FinTech 50, Aite Group Best Digital Wealth Management Multiproduct Offering, Finovate Award for Best Digital Bank 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People’s Voice Award. For more information about the company, visit www.moneylion.com. For investor information and updates, visit www.moneylion.com/investors and follow @MoneyLionIR on Twitter. About Even Financial Founded in 2014, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance and fintech companies on mobile apps, websites and other consumer touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to their business, with full compliance and security at scale. 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. Learn more at www.evenfinancial.com. Forward-Looking Statements The information in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations and timing related to potential benefits, terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of MoneyLion’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MoneyLion. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed transaction, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed transaction; failure to realize the anticipated benefits of the proposed transaction; risks relating to the uncertainty of the projected financial information with respect to MoneyLion; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; MoneyLion’s ability to manage future growth; MoneyLion’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on MoneyLion’s future business; or, the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that MoneyLion presently knows or that MoneyLion currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MoneyLion’s expectations, plans or forecasts of future events and views as of the date of this press release. MoneyLion anticipates that subsequent events and developments will cause its assessments to change. However, while MoneyLion may elect to update these forward-looking statements at some point in the future, MoneyLion specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing MoneyLion’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Even
Even Financial Adds Tally's Low-Interest Line of Credit to its Embedded Finance Marketplace
NEW YORK, NY, March 15, 2022 -- Even Financial ("Even"), the category-leading embedded finance marketplace and independently managed subsidiary of MoneyLion, Inc. (NYSE: ML), has announced a new partnership with Tally, a leading financial automation company, to include the company's low-interest credit offerings on its platform. "Tally has built a powerful tech-enabled system to help people solve one of the biggest financial problems today: paying off credit card debt," said Phill Rosen, Founder and CEO of Even. "We're thrilled to welcome Tally's line of credit offerings to Even's unparalleled network of financial services providers." Tally is designed to help its members pay off their debt faster and save them money on interest and late fees. Members can lower their monthly payment with Tally's lower-interest line of credit, if eligible. Typically, at least a 580 FICO score is needed. Tally's system is customized to save people as much money as possible. "Americans today owe nearly $1 trillion in credit card debt. We know from our research that many want to pay down their debt but struggle to get started. That's where Tally comes in," said Jason Huynh, VP of Credit, Analytics & Operations at Tally. "Our system combines financial automation with a low-interest line of credit to give people the help they need to get on track to pay off their credit card debt for good. We're thrilled that our partnership with Even will allow Tally to help even more people." The launch of Tally on the Even platform enables consumers to get matched with Tally's custom, low-interest line of credit accounts of up to $25,000 in just a few minutes. After getting matched, eligible consumers complete the process through the Tally app. There are no out-of-pocket costs. Tally is the latest partner to join the Even marketplace, a growing network of over 400 financial services partners and 500 channel partners covering a breadth of financial services including loans, credit cards, mortgages, savings, and insurance products. Even's marketplace technology enables any company to add financial products to its business, with full compliance and security, at scale. About Even Financial Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance carriers, and fintech companies on mobile apps, websites, and other digital touchpoints through its marketplace technology. Even's infrastructure leverages machine learning and advanced data science to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and channel partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Even enables any company to add financial products to its business, with full compliance and security at scale. Even was named one of "America's Best Startup Employers'' by Forbes for 2021 and was named to the 2021 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Learn more at www.evenfinancial.com. About Tally Tally is a consumer financial tech company pioneering full-service financial automation to help people save money, pay down their debt and reach their goals sooner. Founded in 2015, the company built the first fully automated debt manager to help put billions of dollars back in people's pockets. In 2021, Tally was named to Fast Company's Most Innovative Companies list and to Quartz's Best Companies for Remote Workers. Previously, Tally made Forbes' Next Billion Dollar Startup list, Forbes' Fintech 50 list, and the app won Real Simple's Smart Money award. Learn more at meettally.com. Media Contacts media@evenfinancial.com press@meettally.com
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, 2021Even 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 industrys 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 Lifes 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