Investments

Even Financial Reports $3M Financing Round

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.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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