MoneyLion, Inc.
Headquarters
New York, NYFounded
2013CEO / Founder
Dee ChoubeyEmployees
501-1000Funding
Acquired — $268MStock
MLProducts
1 product listedAvg. AI Score
7.2/10Website
www.moneylion.com/
Profile updated
About MoneyLion, Inc.
MoneyLion was founded in 2013 by Diwakar Dee Choubey and is headquartered in New York, NY. The company operates as a financial technology platform that provides personal finance tools to individual consumers via a mobile super app and enterprise-grade embedded finance infrastructure to partner brands.
The consumer app offers cash advances (Instacash), credit-builder loans, a checking account, stock and ETF investing, and credit monitoring. The enterprise platform, MoneyLion Engine, connects more than 1,100 partner brands with real-time, personalized financial product recommendations. A content studio, Malka Media, produces compliant financial content at scale for the platform. As of 2024, the company reported approximately 20 million customers and 46 million in annual revenue with a 17% adjusted EBITDA margin.
MoneyLion went public in September 2021 via a SPAC merger with Fusion Acquisition Corp II on the NYSE under ticker ML, having raised approximately 68 million in venture funding across 10 prior rounds. Gen Digital announced in December 2024 that it would acquire MoneyLion for approximately billion (2.00 per share in cash), with the transaction closing on April 17, 2025. MoneyLion now operates within Gen's Trust-Based Solutions segment alongside LifeLock.
Specialties
Financials
Dated, source-cited figures. Estimates are marked.
Products by MoneyLion, Inc.
All products by MoneyLion, Inc. reviewed by our AI panel of experts.
How Our Review Panel Scores MoneyLion, Inc.
Six independent reviewer personalities assessed MoneyLion, Inc.'s product on their own terms. They disagreed by 1.0 points — The Skeptic was the hardest to convince, The Power User the most positive.
Averaged across 1 reviewed product in our catalog. Scores are out of 10.
Competitive Landscape
Who MoneyLion, Inc. competes with, and how they differ.
SoFi offers a similar "one membership, many products" super app spanning banking, investing, and lending, but skews toward higher-income/prime borrowers with a full brokerage and student-loan refinancing business that MoneyLion does not have.
Dave targets the same subprime, overdraft-prone demographic with small-dollar cash advances (ExtraCash) and a debit card, but stays narrowly focused on that single product rather than MoneyLion's broader banking, investing, credit-building, and embedded-finance marketplace stack. Press routinely compares the two as public-market peers.
Company Timeline
Key milestones in MoneyLion, Inc.'s history, with sources.
- Acquisition
Acquired by Gen Digital for $82.00/Share Cash Plus CVR
Gen Digital completed its acquisition of MoneyLion pursuant to the December 10, 2024 merger agreement. MoneyLion shareholders received $82.00 in cash per share plus one contingent value right (CVR); MoneyLion became a wholly owned subsidiary and its Class A stock (NYSE: ML) was delisted.
sec.gov - Milestone
Gen Digital Agrees to Acquire MoneyLion for ~$1 Billion
Cybersecurity company Gen Digital (Norton, LifeLock, Avast) signed a merger agreement to acquire MoneyLion for $82.00 per share in cash plus a CVR worth up to $23/share in Gen stock, a deal valued at roughly $1 billion and expected to close in Gen's fiscal H1 2026 (April-September 2025).
finovate.com - Acquisition
Completed Acquisition of Even Financial for ~$440 Million
MoneyLion closed its purchase of embedded-finance marketplace Even Financial Inc., paying with Series A convertible preferred stock, ~$14.5M cash, and an earnout tied to 2022 revenue; total purchase price was approximately $440 million. Even Financial was later rebranded "Engine by MoneyLion."
sec.gov - Acquisition
Acquired MALKA Media Group for ~$52.7 Million
MoneyLion bought creator-network and content studio MALKA Media Group LLC, paying $10M cash plus 4.18M restricted shares (total purchase price ~$52.7M), with up to $35M more in earnout shares tied to 2021-2022 performance.
sec.gov - Funding
Went Public on NYSE via SPAC Merger with Fusion Acquisition Corp
MoneyLion completed its business combination with blank-check SPAC Fusion Acquisition Corp, becoming MoneyLion Inc. and beginning trading on the NYSE under ticker ML.
sec.gov - Funding
Agreed to Go Public via $2.9 Billion SPAC Merger
MoneyLion signed a merger agreement to go public via Fusion Acquisition Corp, valuing the combined company at a $2.9 billion post-transaction equity value, backed by a $250 million PIPE led by BlackRock and Apollo Global Management.
thefintechtimes.com - Acquisition
Acquired Wealth Technologies Inc. (WTI) for ~$27.9 Million
MoneyLion bought Wealth Technologies Inc., gaining its wealth-management decisioning engine, later adapted into MoneyLion's "fGPS" (Financial Goals Positioning System) goals-based planning tool.
sec.gov - Funding
Series C -- $100 Million Led by Edison Partners and Greenspring Associates
MoneyLion raised $100M in a Series C round with participation from MetaBank, FinTech Collective, and a strategic investment from Capital One, pushing its valuation to near $1 billion.
techcrunch.com - Founded
Founded in New York
MoneyLion was founded in 2013 and headquartered in New York City, built around underwriting and pricing credit risk for middle-class American consumers using data science.
sec.gov
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