Even Financial forays into credit card market with Birch Finance acquisition

Even Financial has acquired personal finance application provider Birch Finance for an undisclosed amount.

Birch Finance app, available for both mobile and web use, helps customers find the right credit cards.

The app’s core recommendation engine is designed to analyse a user’s real transaction history and compare it to more than 200 credit cards and associated reward programmes in order to find the best set of cards for a user.

Even Financial offers an API that provides the required infrastructure for financial services and channel partners to connect their consumers with personalised products.

The company will now utilise Birch’s app to create a customer acquisition technology in the credit card market.

Even Financial CEO and co-founder Phillip Rosen said: “The credit card market continues to expand with millions of consumers opening up hundreds of different types of credit cards every year for countless reasons.

“Birch already has one of the largest credit card databases and their technology perfectly complements our existing platform as we expand our offering to the credit card space. This acquisition will allow our partners to optimise the process of getting the right cards to the right consumers.”

Birch Finance CEO Alex Cohen said: “We saw a clear synergy with Even’s business strategy and growth plans, and I’m thrilled to join Even’s team as we expand and scale our offerings into new areas.”

Cohen has been appointed as the senior director of credit card marketplace at Even Financial.