MoneyLion plans to go public with an equity value of $2.9 billion, raising $350m from the SPAC and $250m from investors such as BlackRock and Apollo Global Management. Launched in 2013, MoneyLion provides products to help consumers save, borrow money, and invest. Its mobile banking product, RoarMoney, lets their 7.5m members get paid up to two days early.
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Another Fintech Is Going Public Through a Blank-Check Company, in a $2.9b Deal
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Accessing capital markets “allows us to raise awareness of MoneyLion …to the 100 million plus Americans who are disadvantaged through the current financial system,” said Dee Choubey, MoneyLion CEO and co-founder, in an interview.
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