Even, an Oakland, California-based fintech startup, raised a new funding round of undisclosed amount.
PayPal Ventures, Valar Ventures, Founders Fund, and Marc Benioff made the investment.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Jon Schlossberg, CEO and co-founder, Even provides a tech platform that integrates with attendance, payroll, and banking systems to create innovative products that address the core components of financial health. It provides an employer benefit that combines on-demand pay (InstapayTM) with budgeting and savings tools to ensure long-term financial stability.
An on-demand pay provider, Even operates on a subscription model. Members pay a flat monthly fee, which employers can subsidize, for access to all of its features, including InstapayTM.
It now has more than 500,000 monthly active users.