Even Financial collects $18.8m in its Series A led by GreatPoint Ventures

Even Financial, a financial services API developer, has collected $18.8m in its Series A round of funding.

GreatPoint Ventures led the investment, with participation also coming from Goldman Sachs, Canaan Partners, F-Prime Capital, and Lerer Hippeau. A number of angel investors also took part including NerdWallet co-founder Jacob Gibson and Credit.com senior vice president Jason Owen.

This Series A incorporates the previously reported $3.3m strategic investment raised at the beginning of the year. American Express Ventures, Arab Angels, Plug and Play Ventures and Valuestream Ventures supplied the capital for the initial round.

New York-based Even Financial implements an API recommendation service which suggest the optimal partnerships for banks and third-party companies. Its service helps businesses to provide consumers with financial products such as personal loans, credit cards, mortgages, savings accounts, financial health tools and more.

With these new fund, the company hopes to accelerate growth and move into new product verticals such as deposits, credit cards and mortgages.

Even Financial CEO and co-founder Phillip Rosen said, “While the online financial services ecosystem is growing rapidly, the infrastructure for financial institutions to distribute their products digitally remains fractured and a bottleneck to growth.

“It is challenging for financial institutions to connect with consumers, and for people to find the right financial products for their needs. The funds secured with our Series A will allow us to continue to expand our API, which fills that gap within the ecosystem.”

Even’s total venture funding has reached $25m, with the company closing a seed round on $6.2m in 2015.

Earlier in the year, GreatPoint Ventures took part in the $14.75m seed round of funding of Spring Labs, a blockchain-based network to support the data exchange of lenders, banks, and data providers.

Copyright © 2018 FinTech Global

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