Even Financial, the platform powering financial services online, announced on Tuesday it secured $25 million through its Series A funding round, which was led by GreatPoint Ventures with participation from Goldman Sachs, Canaan Partners, F-Prime Capital, Lerer Hippeau and notable investors, including NerdWallet co-founder Jacob Gibson and Jason Owen, Senior Vice President and General Manager at Credit.com.
According to Even Financial, the Series A financing includes a previously announced investment of $3.3 million secured in January from American Express Ventures, Arab Angels, Plug and Play Ventures and Valuestream Ventures. The funding round follows the company’s $6.2 million seed round, totaling $25 million in funding for Even Financial since its launch in 2016. While sharing details about the company and its recent funding round, Phillip Rosen, Chief Executive Officer and Co-Founder of Even Financial, stated:
“While the online financial services ecosystem is growing rapidly, the infrastructure for financial institutions to distribute their products digitally remains fractured and a bottleneck to growth. It is challenging for financial institutions to connect with consumers, and for people to find the right financial products for their needs. The funds secured with our Series A will allow us to continue to expand our API, which fills that gap within the ecosystem.”
Mike McCormick, an associate partner at GreatPoint Ventures, also revealed that he and his team have been impressed by Even Financial since its launch.
“As we learned more about Even, it became clear that they are on an inside track to become a dominant player in the financial services industry.”
Even added its search, comparison and recommendation API functions as an infrastructure layer that enables a wide range of over 150 partners, including 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. The funds from the Series A round will be used to continue to accelerate growth and tackle new product verticals, including deposits, credit , ards and mortgages.