MoneyLion Raises $100M
US app-based bank aggregation platform MoneyLion has announced a $100m Series C round, bringing the company’s total funding to date to ~$228m.
Established in 2013, the Fitbit for your wallet claims 4m members; allowing them to view all their financial accounts from within a single app and receive advice on how better to manage their finances.
“In 2018, we helped our members avoid over $7.2 million in traditional banking fees, generated over $12 million in cashback rewards, and helped 70% of our members increase their credit scores by 30 points” – CEO Dee Chouby.
Up and coming features will include the introduction of 0% APR cash advances to help out with short-term cashflow issues, a high yield cash account and stock trading.
Bottom Line: Grupo SURA is an investor.