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Overview
Even offers a financial wellness platform for employers and their employees that includes Earned Wage Access (EWA) and budgeting tools. It lets employees access a portion of wages they've already earned before payday through a payroll-integrated app, called Instapay, and enables automatic savings features to help employees manage money more effectively. The service is delivered to employers on a subscription basis, allowing them to offer valuable financial benefits to staff as a way to improve satisfaction and reduce turnover. Unlike generic payroll apps, Even integrates with the employer’s payroll system and focuses specifically on on-demand wages and savings tools within an employer-sponsored program. The company’s goal is to reduce financial stress for workers while helping employers boost retention and engagement by providing accessible, employer-backed financial wellness benefits.
About Even
Industries
Enterprise Software
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$52M
Headquarters
Oakland, California
Founded
2014
Simplify's Take
What believers are saying
- Gig economy demand boosts Even's employer adoption rapidly.
- Healthtech partnerships like StanPlus expand Even's integrations.
- Proven retention gains attract Fortune 500 employer subscriptions.
What critics are saying
- Walmart integrates Even into neobank, undercutting subscriptions now.
- CFPB 2024 rules classify Instapay as credit, capping fees immediately.
- DailyPay's 1000+ clients commoditize payroll APIs, sparking price wars.
What makes Even unique
- Even provides fee-free Instapay for immediate earned wage access.
- Even integrates automatic savings plans into payroll systems.
- Even reduces employee turnover via financial wellness tools.
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Funding
Total Funding
$52M
Meets
Industry Average
Funded Over
4 Rounds
SV Angel
BoxGroupIndustry standards
Benefits
We are Remote Equal: Whether you WFH or can’t wait to get back to our Offices, we’ve invested in ensuring the quality of your experience will be the same.
If you WFH, we will help you get the equipment you need to make it sustainable.
$100/month Health & Wellness stipend for the gym, massages, or whatever makes you feel good.
$500 annual Financial stipend to use for financial planning and getting legal advice.
$5,000 annual Education stipend for your professional development.
Huge variety of Healthcare plans and carriers for Medical, Dental, and Vision insurance to choose from, including plans with FSAs and HSAs.
Short- and Long-Term Disability insurance.
Basic Life insurance.
401(k) with 50% match from Even, up to 6% of your salary.
PTO policies: Unlimited for Salaried employees, and starting at 120 hours of vacation leave, 72 hours of sick and safe leave, and paid holidays for Hourly employees.
Parental Leave: 4.5 months for birthing parents, 3 months for non-birthing parents.
Education: You can take up to 5 days of paid time off each year to attend a course or to work on an individual project related to your stipend.
Sabbatical Leave: You can take 3 months of paid leave after 5 years of working at Even!
Company News
Walmart's made some inroads in the space, having bought Even Responsible Finance and One Finance.
Easy Crypto believes that the success of the funding round “demonstrates increasing confidence in the role of cryptocurrency in the financial ecosystem.”
EVEN has raised a $2.2 Million seed round led by CSA partners with participation from a diverse group of investors including gener8tor, VC414, gAngels, Daniel Rotman, Adie Akuffo-Afful, Donte Murry, and Ogo.
With Earnings Stream, fintechs and financial institutions can seamlessly support new products, such as enabling cash flow underwriting and simplifying earned wage access (EWA), to alleviate the financial stress of traditional underwriting and traditional pay periods, ultimately creating a fairer financial system. Pinwheel's up-leveled insights – projected earnings or accrued earnings – are powered by consumer-permissioned, real-time data connectivity. NEW YORK, Sept. 27, 2022 /PRNewswire/ -- Today, Pinwheel, the market-leading provider of income and employment data engineered for next-generation fintech innovation, announced the launch of Pinwheel Earnings Stream. Pinwheel's latest product provides an unprecedented level of persistent, up-to-date historical, current, and projected income data
Hyderabad: Hyderabad-based emergency medical response company StanPlus has announced its partnership with Even, a healthtech company and healthcare provider, to provide emergency medical transportation services.
There are no jobs for Even right now.
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About Even
Industries
Enterprise Software
Fintech
Financial Services
Company Size
51-200
Company Stage
Series B
Total Funding
$52M
Headquarters
Oakland, California
Founded
2014
There are no jobs for Even right now.
Find jobs on Simplify and start your career today