Even Responsible Finance, Inc.

Even Responsible Finance, Inc. is a financial technology company that focuses on providing innovative financial management solutions tailored for employees through their employers, enhancing their financial literacy and stability. Founded in 2014 in Oakland, US, Even Responsible Finance, Inc. specializes in financial management solutions for employees, previously operating under the name Even.

The company has engaged in 6 deals, with its most recent deal occurring on June 18, 2020. Even's latest funding round was a Series B, raising USD 17. 30 mn led by Khosla Ventures, with participation from investors such as Allen & Company, Bull City Venture Partners, Harrison Metal Capital, SV Angel, Silicon Valley Bank, and Valar Ventures. The company's current valuation stands at USD 90.

99 mn. The co-founders include Jon Schlossberg, Quinten Farmer, and Stasys Mikelionis, with David Baga serving as the CEO. ONE@Work, a financial technology platform offered by Even Responsible Finance, provides employees with innovative financial management solutions through their employers. Key features include Instapay, enabling early access to earned wages, and automated savings that allow users to designate a percentage of their paycheck for savings.

The platform analyzes monthly expenses and offers budgeting insights to promote responsible financial habits. With over 800,000 users across the United States, ONE@Work aims to enhance financial literacy and stability for working individuals within companies that partner to provide this employee benefit. ONE@Work generates revenue by partnering with employers who offer its services as part of their employee benefits packages. Users can utilize features like Instapay and automated savings at no cost if enabled by their employer; otherwise, a nominal fee applies for instant deposits.

The revenue model relies on these employer partnerships and user transaction fees, facilitating early wage access and various financial tools that engage users and support ongoing relationships with employers. As part of its future growth strategy, Even Responsible Finance aims to expand its product offerings and market presence. The company recently raised USD 17. 30 mn in June 2020, which will likely support the development of new features for ONE@Work.

Plans include entering new geographic regions, targeting specific markets to enhance user acquisition. Recent funding from Founders Foundation and PayPal Ventures, alongside returning investor Valar Ventures, will bolster these initiatives as Even seeks to further establish its footprint in the financial technology landscape.