Lehi — Eve Financial, a stealth-mode Fintech platform that champions in the space of low-cost borrowing for the services industry, announced a $3.4 million funding round in 2021 led by Allegis Capital, Palo Alto, CA.

“I wanted to take a process that was slow, painful, and overpriced for businesses and their customers alike and make it into something that was instantaneous, delightful, and fairly priced,” says Isaac Freckleton, founder and CEO of Eve Financial.

“We’re doing the same thing for the services industry that Uber did for taxis. Before Uber, I avoided taxis as much as possible. Drivers were rarely friendly; price transparency didn’t exist and it was difficult to call a cab. Uber targeted the user experience through social accountability, cost transparency, and ease of interaction. I use Uber all the time. That’s exactly what we’re doing for dental offices, med spas, vet clinics, auto repair shops, etc.”

For the consumer, Eve Financial is pioneering this space via the first US credit card which offers 0 percent APR for 4 months every time you spend – – forever.

“The past five years or so have seen a lot of billion-dollar companies pop-up, seemingly overnight, which focus on ‘Buy Now Pay Later’ financing at the point of sale for online shopping. While BNPL has found huge success in e-commerce, the multi-trillion-dollar services industry has largely been ignored.” Freckleton stated.

Eve is actively working to build a better point of sale financing solution that works for the services industry, starting with user experience and a better financial instrument. This works for businesses in automotive repair, home repair, therapy, plumbing, veterinary, dental, you name it.

By giving service companies the ability to finance customer purchases, Eve is simultaneously helping the business increase revenues by as much as 30 percent, while connecting the borrower to fairly priced money.

Funding can be a slow, painful, and expensive process. Eve wants to be the change in an industry that is notorious for preying on consumers, often charging the maximum fees that people are willing to pay.

“We have some of the brightest product/user-experience minds helping us, including Sean Rad, former CEO and founder of Tinder, who has invested in and continues to advise our team. At inception, we started by connecting service businesses to other bank money. After growing over 50 percent month over month, we realized that we needed to bring a better product to market than what existed, and therefore we’re in the process of building our own credit card, with nearly 9 banks competing to be our bank sponsor.” Freckleton explains.

Greater opportunity for Eve Financial came from the refinement of the company’s overall vision. Freckleton molded Eve into a business that revolved around finding a better way to connect people to fair money.

“We are currently building a credit card that doesn’t suck, the way we think it’s supposed to be built,” Freckleton stated.

Though things are still far from perfect at Eve, the challenge is the motivator.

“Solving hard problems, tackling the impossible, and doing something that others say can’t be done is what we do at Eve. We are building something that changes lives and makes a meaningful impact,” Freckleton stated.

Through trial and error, Eve has nailed down the right intersection of customer pain and value.

“Eve Financial is a unique opportunity for greatness. It’s really all about the direction and vision of connecting small businesses to better opportunities to grow and connecting consumers to fair money. At the end of the day, that’s what it’s all about,” says Freckleton.