FinTech Startup Even Raises $40 Million
Even announced the selection of Raleigh, North Carolina, as the site of its new East Coast offices, joining the startup’s Silicon Valley headquarters in Oakland, California. The selection of Raleigh follows a growing trend among large venture-backed companies to include Raleigh-Durham as part of their expansion. In addition to announcing their East Coast headquarters, Even added Durham’s Bull City Venture Partners to the list of participating investors in their Series B round of funding, totaling more than $40 million.
Using a holistic approach to financial health, Even partners with Fortune 500 companies, integrating with attendance, payroll, and banking systems to understand and directly impact the overall picture of employees’ financial health. The company’s mobile apps are designed to instantly budget so that users know how much is “okay to spend,” safely address cash flow issues with Instapay (on-demand access to wages), and help employees automatically save money out of their paycheck before it hits their bank balance.