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Keith Rabois Leads $1.5 Million Round For “Even,” An Interest-Free, Cellphone Substitute For Payday Advances

30Dec

Keith Rabois Leads $1.5 Million Round For “Even,” An Interest-Free, Cellphone Substitute For Payday Advances

A startup whose very first item is a mobile cash administration application called also, built to provide low-income employees interest-free credit to assist them to pay the bills in between paychecks, has raised $1.5 million in a seed round led by Keith Rabois of Khosla Ventures, with involvement off their investors. The solution is supposed to supply hourly, and workers that are generally part-time option to riskier pay day loans as well as other financial products where financial obligation substances, rendering it even more complicated to recoup from life’s curveballs.

Other investors into the round included Homebrew, Kevin Systrom, Mike Krieger, Michelle Wilson (previous counsel that is general of), David Tisch, Adam Rothenberg, Sam Lessin, Slow Ventures, Red Swan, Andrew Fine, Zach Brock, Joe Ziemer, Andrew Kortina (Venmo).

One of many worst injustices in regards to the earnings inequality situation when you look at the U.S.

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