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§ Private Profile · Oakland, CA, USA
Fintech app for income smoothing, budgeting tools, and early wage access, helping working-class Americans achieve financial wellness.
Even.com has raised $51.0M across 3 funding rounds.
Key people at Even.com.
Even.com has raised $51.0M in total across 3 funding rounds.
Established in late 2014 by co-founder Jon Schlossberg and backed by prominent venture capitalist Keith Rabois, Even.com is a financial technology company based in Oakland, California, USA. The enterprise develops a mobile application providing income smoothing, early earned wage access, and budgeting tools specifically designed to assist working-class individuals. This platform focuses on improving financial wellness by teaching ordinary Americans how to manage their daily finances, spend wisely, build long-term savings, and avoid relying on payday loans. Operating within the consumer fintech sector, the startup has raised a total of $50.5 million in venture capital funding to support its app-based financial services and business model. This capitalization includes a $40 million Series B financing round led by Rabois and his investment firm, Khosla Ventures, which also participated in the company's earlier seed funding stages.
Key people at Even.com.
Even.com is a financial technology company offering a mobile app that provides earned wage access, automated bill payments, budgeting, savings, and financial wellness tools to help hourly workers manage cash flow and build financial stability.[1][2][4] It primarily serves employees through employer partnerships, solving the problem of irregular paychecks by simulating salaried wages—advancing funds based on average earnings while shifting surplus to savings—and has partnerships with major employers like Walmart and PayPal.[1][4] Acquired by Hazel by Walmart in January 2022 after raising $52.14M, Even continues as a growth-stage fintech platform with 201-500 employees, $50M-$100M in revenue, and strong employee ratings (4.9/5 on Glassdoor).[2][3][5]
Even was founded in fall 2014 by Jon Schlossberg, a product designer, alongside entrepreneurs like Quinten Farmer and Ryan Gomba (formerly of SimpleGeo and Instagram), initially under the name Yett.[1][2][5] The idea emerged to create a "new type of financial institution" that automates money management—paying bills, balancing budgets, saving, investing, and delivering disposable income weekly—targeting underserved hourly workers facing cash flow gaps.[2][3][4] Early traction came quickly: $1.5M seed funding led by Keith Rabois in 2014, beta launch in 2015, public availability in January 2016, and a pivotal 2017 Walmart partnership for early wage access.[1] Funding grew with a $40M Series B in 2018 (again led by Rabois), reaching over 500,000 users by 2020 and a PayPal employee partnership; leadership shifted in 2021 with David Baga as CEO (later Ellen Sullivan noted as CEO).[1][2][3]
Even rides the fintech democratization wave, specifically financial wellness and digital lending for the gig/hourly economy, where 78 million Americans live paycheck-to-paycheck amid rising living costs.[2][6] Timing aligns with post-2020 shifts: remote work, inflation, and employer perks evolving beyond traditional benefits, amplified by Walmart's 2022 acquisition via Hazel to scale employee financial tools amid labor shortages.[1][2][5] Market forces like regulatory support for earned wage access (vs. predatory payday loans) and fintech's $9,466 tracked startups favor Even, influencing the ecosystem by normalizing on-demand pay—boosting retention (e.g., Walmart's adoption) and inspiring competitors in #FinancialWellness (245 firms) and #DigitalBanking (867 firms).[2][4]
Even's Walmart integration positions it for massive scale, potentially reaching millions via retail's employee base, with expansions in auto-savings, investments, and AI-driven personalization.[2][4] Trends like embedded finance in HR tech and regulatory tailwinds for responsible lending will propel growth, evolving Even from startup disruptor to enterprise standard—further "evening the playing field" for financial access.[3][5] As employer benefits prioritize wellness, Even could redefine fintech's role in workforce stability, building on its $52M-funded momentum.
Even.com has raised $51.0M across 3 funding rounds. Most recently, it raised $40.0M Series B in July 2018.
Even.com has raised $51.0M in total across 3 funding rounds.
Even.com's investors include Khosla Ventures, Acrew Capital, Creandum, Earlybird Venture Capital, Emergence Capital, Founders Fund, Glilot Capital Partners, Harrison Metal, Indicator Ventures, Lightspeed Venture Partners, M12, Menlo Ventures.
