Walmart Fintech Partner Even Raises $40M Led by Khosla Ventures

Even Responsible Finance closed a $40 million funding round led by Khosla Ventures in July 2018. Even partners with Walmart to offer the retailer's 1.4 million US employees tools for budgeting, saving, and accessing earned wages before payday, effectively embedding financial services into the employer-employee relationship. The platform helps workers break the paycheck-to-paycheck cycle by smoothing income and providing real-time financial guidance.

This arrangement represents an early example of embedded finance via employer partnerships, with Walmart subsidizing the service for its hourly workforce. Financial terms beyond the round size were not disclosed. The investment signals growing investor interest in fintech solutions that distribute financial products through non-financial platforms, a core tenet of the emerging BaaS and embedded finance model.