Feb 13, 2018
NEW YORK--(BUSINESS WIRE)--MoneyLion, the digital personal finance platform for the financial middle class, today announced that it now empowers over 2 million customers to better their borrowing, saving and investing through personalized, AI-driven solutions. The growth of MoneyLion’s community is a reflection of the positive financial outcomes its customers have achieved and the platform’s unique approach to money management for everyday Americans.
The momentum behind MoneyLion’s customer growth follows a number of recent milestones for the company, including:
- The December launch of MoneyLion Plus, a first-of-its-kind membership that combines guided savings, simple investing, access to low-cost loans, and personalized daily financial tips to help consumers build their credit, financial resilience, and first $2,000 in savings. MoneyLion Plus has democratized access to private banking-like services typically reserved for high net worth consumers, providing an opportunity for first-time investors to begin building wealth.
- Completion of a successful $42 million Series B equity round in January, bringing MoneyLion’s total funds raised to $67 million. This financing accelerates MoneyLion’s continued development of innovative, inclusive financial products and services for America’s financial middle class.
MoneyLion continues to see high levels of engagement and positive financial outcomes across its customer base - from users of the free personal finance and credit monitoring tools to borrowers and investors on MoneyLion Plus. Notable achievements include:
- Over 1.25 million bank accounts have been linked to the mobile app, enabling customers to track their finances and receive personalized daily recommendations to optimize their saving and spending behavior.
- Almost half a million customers have enrolled in MoneyLion’s free credit monitoring program, and over 6 million real-time credit alerts notifying customers of new account openings and other changes to their credit have been sent.
- Members have earned more than $2.5 million via MoneyLion’s one-of-a-kind rewards program, which rewards members for building positive financial habits like credit improvements, responsible spending, and improved financial literacy.
This important growth milestone is a tribute to our customer-centric approach and our focus on enabling the financial middle class to reach their goals, both today and in the future.
Diwakar Choubey, CEO and Co-Founder - MoneyLion