Financial Platform Even Raises $40 Million

In order to address the growing problem of wage stagnation, Even, a holistic financial platform, announced plans to expand its financial services with a $40 million round of funding led by Keith Rabois of Khosla Ventures, with participation from Valar Ventures, Allen & Company, Harrison Metal, Ron Conway, Silicon Valley Bank, and BCVP.

According to the company, Even integrates with attendance, payroll, and banking systems to help users reduce accidental overspending, eliminate the cost of interest and loans, and automatically save. Its core products are designed to help users attain financial health by creating instant budgets, providing on-demand access to wages through its Instapay tool, and making automatic savings deposits to make progress towards goals.