On Tuesday, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016. The company reported that, with more than $1.5 billion in loan requests, its platform has grown to serve over one million customers with its proprietary API and a broad network of consumer portal partners, backed by leading analytics and funnel optimization designed specifically for online finance.
Even Financial was founded in 2014 and seeks to become an important supply channel for online lenders in search of borrowers. Investors in Even Financial include Canaan Partners and Lerer Hippeau Ventures. The company has a set of online finance partners, such as Prosper, Ascend, and Upstart, and has notably integrated the top online finance intuitions into an industry leading real-time API for search, comparison, and recommendation. Even Financial stated that its API unifies and enhances an increasingly fractured online finance ecosystem to amplify monetization, reduce the cost of customer acquisition, and holistically improve the user experience for online lenders, publishers, and borrowers.
Phill Rosen, CEO of Even Financial, stated:
“Like other major industries, finance products and services have moved online and fractured. The online finance space needed a trusted intermediary platform to facilitate access and provide transparency, compliance, efficiency, and scale. At Even Financial, we are committed to providing the best in-depth, integrated tools that address the growing supply-side needs of this online landscape. Our success in providing meaningful solutions for our partners across the ecosystem, including both financial services institutions and publishers, has fueled our rapid growth over the last 12 months.”
Steve Carlson, CEO of Ascend, also commented:
“We’ve significantly reduced customer acquisition costs relative to other partners during our rollout with Even Financial.”
Ron Suber, president of Prosper, added:
“By giving access to vetted customers, Even Financial serves as a perfect complement to lending platforms.”
The Even Financial revealed that its platform now serves more than 100 affiliate partners to provide a single endpoint to integrate a holistic suite of financial products and services.