PayPal invests in “salary on tap” startup

PayPal Ventures has invested in salary drawdown startup Even.

In Brief:

• Valar Ventures and Founders Fund also invested.

• Even enables staff to draw down earned income throughout the month.

• It has around 500,000 users at the moment and works with Walmart.

What does this mean?

Even can be offered by workplaces as an employee benefit with a monthly subscription. The reason this particular salary-on-tap service impressed PayPal was the ability it gives users to budget and save.

Read more here.