Photo: Even

Salesforce chief Marc Benioff and PayPal Ventures are joining the latest funding round for Oakland-based start-up Even, which aims to provide a better alternative to payday loans.

Why it matters: Historically, those who need an advance on their pay often have few options and pay extremely high fees and interest rates.

Details: Even says it isn't disclosing how much it raised, saying it wants to focus not on the amount, but who is aligning themselves with the company.

  • The service now has more than 550,000 monthly active users, many from initial customer Walmart, though it has signed other unnamed large companies as well.

How it works: As we first wrote last year, Even is a subscription service that employers can offer to workers (either subsidized or not) to let them track their wages, begin saving and, when necessary, get some of their pay a bit early.

  • It charges the same amount per worker per month (roughly $6 to $8) whether they get a payday advance or not. CEO Jon Schlossberg told Axios the goal is to get people to start saving, noting 90% of people save virtually nothing each month. The advances on earned pay are meant so users without savings don’t dig themselves into a deeper hole.
  • "We don't trap you in a cycle of relying on it as can happen with many of the other products in that space," Schlossberg said. "People think it's too good to be true. That really is a scathing review of the financial services industry."

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Susan Collins says Senate should postpone Supreme Court vote

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Sen. Susan Collins (R-Maine) said in a statement Saturday she believes whoever is elected in the 2020 presidential race should pick the nominee to fill Justice Ruth Bader Ginsburg's Supreme Court seat.

Why it matters: Collins will be key in how the nomination process plays out. As one of the most centrist Senate Republicans, whether or not the Senate confirms Trump's SCOTUS nominee could hinge on her vote.

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The 2020 election is both very different and very familiar when it comes to the politics of global warming and the stakes of the outcome.

What's new: Democratic voters are more concerned than in prior presidential cycles, polling shows.