Even Financial Secures $25 Million To Scale Its API Platform

By Noah Long ● September 8, 2019
  • Even Financial — a leading API company for financial services search, acquisition, and monetization — has raised $25 million in strategic funding led by Citi Ventures

Even Financial — a leading API for financial services search, acquisition, and monetization — announced that it raised $25 million in a strategic round of funding led by Citi Ventures. This funding round was co-led by MassMutual Ventures with additional participation from LendingClub. And existing investors American Express Ventures, Canaan Partners, F-Prime Capital, GreatPoint Ventures, and Goldman Sachs also joined in the round. So far, Even has raised $50 million to transform the way financial institutions find and connect with consumers.

“At Even, we believe the future of financial services acquisition is native, programmatic, and highly personalized,” said Even Financial CEO Phillip Rosen. “This strategic funding will allow us to execute our vision more rapidly as we grow our network of partners, bolster our product offering, and scale our operations to continue to build the definitive search, comparison, and recommendation engine for financial services.”

Launched in 2015, Even Financial is a B2B2C fintech company that is evolving the way financial institutions find and connect with consumers. And it solves a major pain point in financial services acquisition by seamlessly connecting supply and demand via its industry-leading API and turns any consumer touchpoint into an ROI-

“Just as ITA’s software transformed how consumers find and book travel and DoubleClick’s exchange changed the way publishers and brands buy and sell ads, Even’s platform is revolutionizing how financial institutions find and connect with consumers,” added Citi Ventures managing director Luis Valdich — who is joining Even’s board of directors. “We’re thrilled to partner with Phill and the Even team to support their next phase of growth.”driven, programmatic acquisition source with full compliance and security.

Since launching, Even experienced rapid adoption from financial institutions (American Express, Goldman Sachs, and SoFi) and channel partners (TransUnion, The Penny Hoarder, Credit Sesame, Money Under 30, and Empower), and grew its network by 250% over the past year.

“We’re excited to help Even accelerate its growth into insurance, through personalized product recommendations,” explained MassMutual Ventures investor Charles Svirk. “The investment syndicate represents marquee brands in the financial services industry, which speaks to both Even’s trajectory as a company and its recognition as the leader in API based distribution of financial products.”

With Even, financial institutions are able to build profitable portfolios with proven lower acquisition costs through access to the vast, high-quality, organic Even network thus reaching millions of consumers with native integrations featuring programmatic purchasing, full compliance, machine learning, and data backed by over 40 million user profiles to support decisioning. And channel partners are able to increase monetization with turn-key financial institution integrations across loans, savings, credit cards, and more. And consumers are able to enjoy the Optimal User Experience with the ability to search, compare, and get matched with the financial services they need instantly through Even’s leading recommendation engine.

“We appreciate the opportunity to participate in this financing round as we deepen our partnership with this innovative fintech provider,” commented LendingClub Chief Financial Officer Tom Casey. “Even’s industry-leading API enables us to leverage our scale as America’s largest provider of personal loans and connect with multiple partners as we strive to improve the financial health of more borrowers.”

This round of funding will enable Even to continue to scale its leading platform including expanding into additional financial services verticals and extending the reach of its network of financial institutions, channel partners, and enterprises.

Plus the company will add solutions for mortgage, insurance, and student loan marketplaces to its platform and will continue to build out its SaaS offering. And Even has nearly tripled the size of its team over the past year adding prominent executives from technology and finance leaders like JPMorgan Chase, Visa, Turner, Google, Taboola, Criteo, and DoubleClick. And the company is continuing to add top talent to drive its growth strategy at a rapid pace.