Posted In:

Banking, Lending


MoneyLion to be Acquired by Gen Digital in Billion-Dollar Deal

Published:

Jan 13, 2025


Author:

Sarah Parsons Wolter

Posted In:

Banking, Lending

Published:

Jan 13, 2025


Author:

Sarah Parsons Wolter


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We are excited to share that FinTech Collective portfolio company MoneyLion (NYSE:ML) announced an agreement to be acquired by Gen Digital (NASDAQ:GEN), an $18b global leader in digital identity protection and cybersecurity with iconic brands like LifeLock, Norton, and Avast - with 40m customers in the US and 500m customers globally.

It’s not often you get the opportunity to go from PowerPoint deck to IPO to billion-dollar exit, and we are thrilled about the prospect of what MoneyLion and Gen Digital can accomplish together and the accelerated growth and scale this partnership will allow post-acquisition.

The Board of Directors of both Gen and MoneyLion have unanimously approved the proposed acquisition of MoneyLion by Gen for $82.00 per share in cash payable at closing, representing a cash value of approximately $1 billion. In addition, for each share owned, MoneyLion shareholders will receive at closing one contingent value right ("CVR") that entitles the holder to a contingent payment of $23.00 in the form of shares of Gen common stock. It is expected that the CVRs will be listed on the Nasdaq Stock Market.

As CEO Dee Choubey wrote earlier today, “For over 11 years, MoneyLion has been on a mission to empower individuals to make their best financial decisions. Along the way, we’ve redefined what’s possible in fintech—innovating across business models, AI, and technology to create a comprehensive financial ecosystem. Our consumer finance network and super-app now serve millions of hardworking Americans, providing the tools and confidence to navigate their financial lives. This next chapter is about scale—and in fintech, scale and distribution are everything. With Gen Digital’s expansive global reach and established ecosystem, we’re poised to bring MoneyLion’s mission-driven financial tools to millions more people.”

Congratulations Dee, Chee, Rick, and the rest of the MoneyLion team!

You can read more about the acquisition here:
Press Release - Link
Gen Digital Investor Presentation - Link

Stay Magical

Team FTC

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