Advance-pay apps like Even can help people with short-term financial stresses—and have the added benefit of helping employees better manage their money. (Photo: Shutterstock)
When the first customer of your start-up company is Walmart, you know you're onto something.
Jon Schlossberg, co-founder and CEO of advance-pay company Even, says the idea of challenging the payday loan industry was driven by demand for a better model—and not just from the lower-income neighborhoods that payday loan lenders are associated with.
“You have software engineers in Silicon Valley living paycheck to paycheck,” he says. “Half of America is living paycheck to paycheck. We realized we needed to help people escape that cycle.”
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