Keith Rabois Leads $1.5 Million Round For “Even, ” An Interest-Free, Mobile Phone Option To Pay Day Loans

Keith Rabois Leads $1.5 Million Round For “Even, ” An Interest-Free, Mobile Phone Option To Pay Day Loans

A startup whose very first item is a mobile money management application called also, made to provide low-income employees interest-free credit to aid them pay bills in the middle paychecks, has raised $1.5 million in a seed round led by Keith Rabois of Khosla Ventures, with involvement off their investors. The service is supposed to provide hourly, and workers that are generally part-time alternative to riskier pay day loans along with other borrowing products where financial obligation substances, which makes it difficult to recover from life’s curveballs.

Other investors when you look at the round included Homebrew, Kevin Systrom, Mike Krieger, Michelle Wilson (previous basic counsel of Amazon), David Tisch, Adam Rothenberg, Sam Lessin, slowly Ventures, Red Swan, Andrew Fine, Zach Brock, Joe Ziemer, Andrew Kortina (Venmo).

Among the worst injustices in regards to the earnings inequality situation within the U.S. Is merely just just how high priced it is to be bad. Setbacks that other people would actually consider inconveniences can destroy your daily life see site, describes writer Linda Tirado, inside her book “Hand to Mouth: staying in Bootstrap America, ” which details just exactly what it is choose to reside in poverty as low-wage worker. Within one story, she explains what sort of annoyance that is minor a lot of us – getting her car towed – eventually cost her both of her jobs, and quickly after, her apartment. Continue reading “Keith Rabois Leads $1.5 Million Round For “Even, ” An Interest-Free, Mobile Phone Option To Pay Day Loans”