Investments

Citi Ventures Co-Leads Even Financial’s $25M Round

Even gets $25M lead by Citi Ventures

B2B2C FinTech company Even Financial announced that it has raised a $25 million strategic round of investment led by Citi Ventures.

The round was co-led by MassMutual Ventures, with additional participation from LendingClub. Existing investors American Express Ventures, Canaan Partners, F-Prime Capital, GreatPoint Ventures, and Goldman Sachs also participated.

This latest round has brought Even’s total raise to date to $50 million. It will use these funds to scale its platform, including expanding into additional financial services verticals and boosting the reach of its network of financial institutions, channel partners, and enterprises. In addition, the company will add solutions for mortgage, insurance, and student loan marketplaces to its platform and will continue to build out its software-as-a-service (SaaS) offering.

“At Even, we believe the future of financial services acquisition is native, programmatic, and highly personalized,” Phill Rosen, founder and CEO of Even, said in a press release. “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.”

Since its 2015 launch, Even has experienced rapid adoption from financial institutions, including American Express, Goldman Sachs and SoFi, as well as channel partners including TransUnion, The Penny Hoarder, Credit Sesame, Money Under 30 and Empower. Over the past year, the company has grown its network by 250 percent.

“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,” said Luis Valdich, managing director of Venture Investing at Citi Ventures, who will join Even’s board of directors. “We’re thrilled to partner with Phill and the Even team to support their next phase of growth.”

“We’re excited to help Even accelerate its growth into insurance, through personalized product recommendations,” added Charles Svirk of MassMutual Ventures. “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.”

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