It has been a fantastic summer for our fund portfolio companies. Robinhood raised $320 million at a $7.6 billion valuation. It is staggering that it was just 2013 when we made our first investment at an $8 million valuation. The quick investment story is here.
Today it was Even Financial (Fund 2) taking the stage with a big announcement.
The company was founded back in 2015 by Phil Rosen and Ian Rosen (not related!) and not the Drs. in Fletch either. Ian has since become the CEO of Stocktwits.
Under just one Rosen now, Even Financial has continued to grow very fast and today announced a $25 million funding round led by Citi Ventures. Here are some comments from the new investors:
“Just as ITA’s software transformed how consumers find and book travel and DoubleClick’s exchange changed the way publishers and brands buy and sell ads, Even’s platform is revolutionizing how financial institutions find and connect with consumers,” said Luis Valdich, Managing Director of Venture Investing at Citi Ventures, who will join Even’s board of directors. “We’re thrilled to partner with Phill and the Even team to support their next phase of growth.”
“We’re excited to help Even accelerate its growth into insurance, through personalized product recommendations,” said Charles Svirk of MassMutual Ventures. “The investment syndicate represents marquee brands in the financial services industry, which speaks to both Even’s trajectory as a company and its recognition as the leader in API based distribution of financial products.”
“We appreciate the opportunity to participate in this financing round as we deepen our partnership with this innovative fintech provider,” said Tom Casey, Chief Financial Officer of LendingClub. “Even’s industry-leading API enables us to leverage our scale as America’s largest provider of personal loans and connect with multiple partners as we strive to improve the financial health of more borrowers.”
Even Financial believes the future of financial services acquisition is “native, programmatic, and highly personalized.” Congrats on reaching $50 million in total funding. Social Leverage is proud to be seed investors.
Last but not least for today is Rally Rd. They launched a big app upgrade today with more asset classes including collector cards, books and watches. They also completed a $138,000 IPO on this fantastic Shelby in less than 30 minutes.
Here is the Honus Wagner card which will IPO soon:
And a sweet rare Rolex:
We have been very active investors this summer and are excited to announce some new investments later this month.