Even Financial, a fintech startup that connects the disparate entities of the financial services industry, recently raised a $18.8 million Series A round led by GreatPoint Ventures with participation from Goldman Sachs, Canaan Partners, F-Prime Capital, Lerer Hippeau and others.
The close of its Series A comes on the heels of a $3 million investment from American Express Ventures, Plug & Play and Arab Angels in February.
“The round is notable because it signifies the buy-in we’re seeing from the largest institutions in the country,” Even co-founder and CEO Phillip Rosen told TechCrunch. “This is really about the maturation of the fintech ecosystem.”
Even offers products like a pre-approval API, real-time pricing, machine learning optimization, a product comparison and recommendation engine for consumers and more.
“We provide a Twilio-style API for any consumer facing app or site to integrate,” Rosen said. “Ideally, a consumer doesn’t know Even Financial exists.”
In March, for example, Even expanded its partnership with Credit.com to power its personal loans marketplace. Credit.com offers consumers credit scores, as well as offers and loans. Other Even partners include The Penny Hoarder and Transunion, which Even connects with financial institutions like Prosper, Lending Club and Marcus by Goldman Sachs.
Even is currently doing over $40 million a month in personal loan funding and it’s ramping up partnerships with credit card companies like American Express.
“It’s now a time to take advantage of this rapid growth,” Rosen said. “We have an opportunity to build out an infrastructure play, similar to what we’ve seen in travel search.”
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