 | This article may be written from a fan's point of view, rather than a neutral point of view .(June 2021) |
Type of site | Private |
|---|---|
| Founded | 2015 |
| Founder(s) | Jon Schlossberg |
| CEO | David Baga |
| Industry | |
| Services | Early Wage Access |
| URL | www |
| Users | 500,000 |
Even is an American financial services company founded in 2015. The company is headquartered in Oakland, California and is known for providing payroll and accounting services including earned wage access. [1]
Even was founded in November 2014 by former CEO Jon Schlossberg and a group of other entrepreneurs. The company raised $1.5 million in seed funding that year, led by tech investor Keith Rabois. [2]
The app entered beta testing in 2015, before becoming available to all users in January 2016. [3]
In 2017, Walmart paid Even an undisclosed amount to begin offering early wage access to its employees. [4]
In July 2018, the company raised $40 million during its Series B round of funding, which was again led by Rabois. [5]
As of 2020, the app had over 500,000 users. [6]
In 2020, PayPal CEO Dan Schulman announced that the company would be partnering with Even to offer the service to its employees as part of its financial wellness initiative. [7]
On March 1, 2021, David Baga became the new CEO of Even, replacing co-founder Jon Schlossberg. [8]
The app simulates salaried wages for hourly by calculating average monthly earnings, and offering paid advances based on its algorithm while moving surplus earnings into savings accounts. [3]
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