Walmart's Fintech Partner Helps Break Paycheck-to-Paycheck Cycle
- Bay Area startup Even snags fresh $40 million funding round
- Even says that about 15% of Walmart’s U.S. staff uses tool
This article is for subscribers only.
Walmart Inc.’s employees have adopted money-management tools from Even Responsible Finance Inc. at a faster pace than anticipated, prompting a fresh round of funding to expand the fintech startup.
More than 200,000 Walmart employees in the U.S. use Even’s app to manage their finances or access their wages early, the Oakland-based startup said in a statement Thursday, and almost half of that group employs it every day. That’s ahead of Even’s projections, prompting interest from other big employers and leading to a $40 million funding round led by Khosla Ventures, the venture-capital firm that also backs grocery-delivery service Instacart and spacecraft maker Rocket Lab.