Even is a smartphone app that helps people with low or irregular income keep on top of their finances with short-term loans. It is not a payday lender, but calls itself “the financial stability app”, as it helps users set aside money on good weeks so that on bad ones they can tap into it to pay bills.

“We’re trying to change the culture of the financial industry by creating a new type of financial institution that puts people first,” says founder Jon Schlossberg, who is aiming to help the 77 million hourly workers in the US whose pay cheques can vary each week.

Even raised $9m (£6.2m) in April 2016 and its backers include Instagram co-founder Kevin Systrom. The app shows the amount it is “safe to spend” in any given week and people can even pause the $3-per-week fee if they need to.