Participated · Series B · Jan 2018

MoneyLion provides mobile online banking and managed investment services through a single mobile app, offering cashback rewards, no-fee checking, overdraft protection, loans, and zero-fee managed investment accounts. Led by founder and CEO Dee Choubey, the company launched in 2013 and has reached more than five million members. Its bank membership includes fee-free checking, access to 55,000+ free ATMs, diversified low-cost ETF portfolios, and personalized tips and tools to help members build credit and achieve everyday savings. The company is NYC-based and also has offices in San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. It will use the new funding to accelerate U.S. customer growth, drive further adoption of its bank membership, and expand its product offering with a series of new financial tools. Upon completion of the Series C, MoneyLion will have raised over $200m in equity financing. MoneyLion provides an integrated personal-finance platform that combines lending, savings, rewards, and wealth-management tools in a single app targeted at middle-class consumers. Users connect bank accounts and credit cards to receive personalized advice based on spending patterns and access loans to smooth income and expenses. The company offers a rewards program that grants points for actions like connecting accounts or maintaining low credit utilization, which can be redeemed for gift cards and perks. MoneyLion generates most of its revenue from its loan product, having originated over 250,000 loans to date across a user base of 1.5M. It recently launched MoneyLion Plus, a $29/month subscription that offers lower-APR loans and an automated savings tool with a $1-per-day login refund. The startup has raised $67M in equity since its 2013 founding and is expanding product and monetization efforts to reach underserved middle-class consumers. MoneyLion is a mobile personal finance platform that uses machine learning analytics to deliver personalized financial-management tools and credit products through its app. The app consolidates spending, savings, and credit tracking and uses analytical models to power tailored recommendations for savings, credit health, and personal loans. It also employs a built-in endorsements and points system to reward good financial behavior. MoneyLion's loan business has grown three-fold year-over-year in originations and volume and has originated over 150,000 loans. The company has $650 million in existing debt facilities to support lending capacity. MoneyLion plans to deploy new equity funding to invest in technology and talent and to expand in new and existing markets. Founded in 2013, the company is headquartered in New York with offices in San Francisco and Kuala Lumpur. MoneyLion provides a mobile-first personal finance platform with free tools for spending, saving and credit tracking plus a suite of credit products. The company uses sophisticated analytics and machine learning–based risk technology to build a 360-degree view of users’ finances and improve underwriting. Its app is available on Apple and Android and includes features such as social endorsements, loyalty points and rewards to encourage better financial habits. MoneyLion aims to deliver fast, low-friction credit solutions and to deepen ties with established institutions to scale its offerings. The company reports it has originated over 120,000 loans from its balance sheet to date. Founded in 2013, MoneyLion is headquartered in New York with offices in San Francisco and Kuala Lumpur.