Total amount raised
$547.5 Million
Latest funding date
11/1/2024
Location
MoneyLion has successfully raised funding over 8 rounds, with the latest being a Post-IPO Debt round. The platform offers a variety of financial services, including personal loans, credit cards, cash advances, and investment management.
Keep reading to explore the intricacies of MoneyLion's fundraising journey and the investors backing this innovative platform.
What Is MoneyLion?
MoneyLion, founded in 2013, is a financial technology company headquartered in New York, New York. The company operates in the FinTech industry, offering a range of services including mobile banking, lending, and investment solutions.
With a workforce of 101-250 employees, MoneyLion aims to help users manage their finances more effectively. The platform provides personal loans, credit cards, cash advances, credit-building programs, and investment management, among other services.
How Much Funding Has MoneyLion Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Series A
- Amount Raised: USD 25,499,428
- Date: December 2016
- Lead Investors: Edison Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve the technology infrastructure.
- Series B
- Amount Raised: USD 42,000,000
- Date: January 2018
- Lead Investors: Edison Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and increase market reach.
- Series B
- Amount Raised: USD 60,000,000
- Date: June 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enhance customer acquisition strategies.
- Series C
- Amount Raised: USD 100,000,000
- Date: July 2019
- Lead Investors: Edison Partners, Greenspring Associates
- Valuation at Round: Nearly USD 1 billion
- Motivation Behind the Round: To expand membership, invest in technology, and launch new financial tools.
- Post-IPO Equity
- Amount Raised: USD 250,000,000
- Date: September 2021
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and expand product offerings post-IPO.
- Post-IPO Debt
- Amount Raised: USD 70,000,000
- Date: November 2024
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support ongoing operations.
Total Amount Raised: USD 547,499,428. Current Valuation: Not publicly disclosed.
Key Investors
- Silicon Valley Bank
- Details: Silicon Valley Bank is a high-tech commercial bank that primarily serves technology, life sciences, and venture capital clients. It is known for providing financial services and venture capital to startups and established companies.
- Investment Focus Areas: Technology, life sciences, venture capital.
- Notable Investments: MoneyLion, Pinterest, Shopify.
- BlackRock
- Details: BlackRock is a global investment management corporation based in New York City. It is one of the world's largest asset managers, offering a range of investment and risk management services.
- Investment Focus Areas: Investment management, financial services, risk management.
- Notable Investments: MoneyLion, Uber, Apple.
- Edison Partners
- Details: Edison Partners is a growth equity firm that invests in technology-enabled businesses. The firm focuses on companies that drive innovation and growth in their respective industries.
- Investment Focus Areas: Fintech, healthcare IT, enterprise solutions, marketing technology.
- Notable Investments: MoneyLion, Billtrust, Clearpool Group.
- Greenspring Associates
- Details: Greenspring Associates is a venture capital firm that provides growth capital to technology companies. The firm invests in a wide range of sectors, including technology and healthcare.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: MoneyLion, Uber, Grubhub.
- Capital One
- Details: Capital One is a diversified bank that offers a broad array of financial products and services to consumers, small businesses, and commercial clients. It is known for its credit card, banking, and loan services.
- Investment Focus Areas: Banking, credit cards, loans, financial services.
- Notable Investments: MoneyLion, BlueTarp Financial, ClearXchange.
What's Next for MoneyLion?
MoneyLion is poised for significant growth as it expands its product offerings, including 0% APR daily cash advances, a high-yield cash account, and a stock trading platform. With over 5 million members and substantial financial backing, the company is well-positioned to drive customer growth and adoption of its banking services across the U.S.
Future fundraising opportunities seem likely as MoneyLion continues its hypergrowth phase, potentially nearing unicorn status. The company may also explore strategic acquisitions to enhance its service offerings and market reach. However, challenges such as intense competition from other fintech companies and regulatory hurdles could pose obstacles along the way.
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