Even Financial announced news on Tuesday (Feb. 20) that it received $3 million in a strategic investing round, with participation from American Express Ventures, the strategic investment unit of American Express. The financial services company said Amex was joined by Plug & Play and Arab Angels in the investment.
With the $3 million in hand, Even Financial will boost its team and technology, which it said in a press release will allow financial institutions (FIs) and other customers to scale customer acquisitions.
Even Financial has said that its platform includes an API that “matches qualified consumers with the right financial products and services in real time,” and has said the analytics and insights tied to the platform allow FIs to reduce the cost of customer acquisitions. It added that this technology will be a focus of the aforementioned funding “in order to enhance the online financial services ecosystem.”
Harshul Sanghi, managing partner of American Express Ventures, said in a statement that “Even Financial helps financial services providers and FinTech partners programmatically deliver products and services in real time to the right customers when and where it’s most effective.”
“By providing the underlying technology for more efficient customer acquisition, Even’s platform is enabling financial institutions to broaden their reach while connecting FinTech partners with a greater supply of financial institutions and their products,” Sanghi continued. “We’re pleased to support Even in its efforts to expand its capabilities and grow its client base.”