Portfolio company MoneyLion goes beyond rebundling the bank to create an immersive, holistic digital offering for 90m working Americans. Credit scores going up, savings going up, life management improving. Congratulations to such a phenomenal team.
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MoneyLion Raises $160 Million At A Valuation Nearing $1 Billion
MoneyLion is a mobile bank that tries to differentiate itself from the growing pack of digital-only banks by charging customers membership fees so they can access a smorgasbord of financial services. There’s banking, investing, credit monitoring, cash advances, cashback rewards, and loyalty programs. The plus membership comes with a monthly fee which consumers reduce by logging into the app daily. MoneyLion is going after the 70% of Americans who are living paycheck to paycheck and don’t or can’t pay all the fees traditional banks charge. All of the services exist but Dee Choubey, founder and CEO of MoneyLion argues no one has put it all together like the fintech has.
