FT Partners Advises MoneyLion on its $100 million Series C Financing
Overview of Transaction
- On July 23, 2019, MoneyLion announced it has raised $100 million in Series C financing, which included strategic investments from Capital One and MetaBank in addition to participation from Edison Partners, Greenspring Associates and FinTech Collective
- MoneyLion is a mobile banking platform that allows members to conveniently borrow money, manage and aggregate finances, as well as invest in future goals through a proprietary digital advisor
- MoneyLion serves over 5 million members, and in 2018 the Company helped its members avoid over $7 million in traditional banking fees, in addition to helping 70% of members improve their credit scores by 30 points
Significance of Transaction
- MoneyLion will use the latest round of financing to accelerate its customer growth in the U.S., and to expand its product offerings to include 0% APR daily cash advances, high-yield cash accounts and a stock trading platform
- With this latest round, MoneyLion has now raised a total of over $200 million in equity financing
FT Partners' Role
- FT Partners served as exclusive strategic and financial advisor to MoneyLion and its board of directors on its $100 million in Series C financing
- FT Partners previously advised MoneyLion on its $82 million Series B financing in 2018
- This transaction highlights FT Partners’ deep domain expertise in the banking technology sector, and its successful track record generating highly favorable outcomes for high growth FinTech companies globally