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MoneyLion
MoneyLion launched in 2013 under co-founder and CEO Dee Choubey, who previously worked in investment banking and private equity. The firm began as a mobile...
MoneyLion
MoneyLion launched in 2013 under co-founder and CEO Dee Choubey, who previously worked in investment banking and private equity. The firm began as a mobile personal-finance tracking and lending app targeting middle-income Americans underserved by traditional banks. It raised venture funding from investors including Edison Partners, Greenspring Associates, and MetaBank before going public in September 2021 through a merger with blank-check company Fusion Acquisition Corp. The transaction valued MoneyLion at roughly $2.9 billion. Today it is listed on the New York Stock Exchange under the ticker ML. The company operates across three integrated segments: consumer banking, embedded finance, and enterprise data services. Consumer offerings include cash advances, managed investment accounts, crypto trading, and credit-builder loans delivered through the MoneyLion app. The enterprise side licenses a data analytics and marketing platform that helps financial institutions target prospects using de-identified behavioral signals. Confirmed partnerships include META Financial Group for deposit infrastructure and Column Tax for in-app tax-filing. The firm maintains engineering and operations hubs in San Francisco and Kuala Lumpur, Malaysia, and serves users across all 50 US states. MoneyLion's enterprise marketplace business now accounts for a meaningful share of revenue. In May 2024, the company reported first-quarter revenue of $131 million, up 20% year over year, with enterprise revenue growing 36% to $24.5 million (per the firm's shareholder letter, Q1 2024). The company also acquired embedded-finance platform Even Financial in 2021, folding its API-based financial-product recommendation engine into the MoneyLion data network. Total customers surpassed 18 million in 2024, driven by organic app downloads and white-label integrations with partners like TrueML and Experian. Structurally, MoneyLion is one of the few publicly traded US firms that combines a consumer-facing neobank with a scaled third-party data marketplace under one roof. This dual-sided model means the company monetizes both the flow of dollars through its banking app and the behavioral insights those transactions generate — a regulatory and operational architecture that sets it apart from pure-play neobanks like Chime or data-only platforms like Plaid.
General information
Firm type
Bank / Wealth / Trust
Year founded
2013
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Additional offices
Kuala Lumpur, Malaysia · San Francisco, CA
Principals
Dee Choubey
Co-Founder and CEO
Rick Correia
Chief Financial Officer
Tim Hong
Chief Product Officer
Sector focus
Frequently asked questions
Is MoneyLion a bank?
MoneyLion is not a chartered bank. It operates as a financial technology platform that partners with licensed banks — primarily META Financial Group — to deliver FDIC-insured deposit accounts and lending products. The company holds various state money-transmitter licenses and operates under consumer-finance regulations enforced by the CFPB.
How does MoneyLion make money?
MoneyLion generates revenue through consumer subscription fees, interchange income on debit-card transactions, loan origination fees, and enterprise data licensing. The enterprise segment sells consumer-financial behavioral insights to third-party financial institutions through a marketplace platform, a business line that has grown faster than consumer banking in recent quarters.
Does MoneyLion use AI in its underwriting?
MoneyLion employs machine-learning models across its lending and marketing operations. The company uses AI to power credit-decision engines, personalize product recommendations within the app, and generate predictive signals for its enterprise data clients. These models draw on a proprietary dataset built from user-permissioned transaction and behavioral data.
Who are MoneyLion's main competitors?
MoneyLion competes with consumer neobanks like Chime, Dave, and Albert for retail deposits and lending, while its enterprise data marketplace overlaps with platforms like Plaid, Envestnet Yodlee, and TransUnion's marketing-solutions division. No direct peer combines both a large-scale consumer app and a third-party data monetization business in quite the same way.
What happened to the Even Financial acquisition?
MoneyLion acquired Even Financial in December 2021 for approximately $440 million in stock and cash. The deal brought in Even's API-based financial-product search and recommendation technology, which now powers MoneyLion's enterprise marketplace — the engine that banks and insurers use to target consumers with pre-qualified offers across MoneyLion's network.
Does MoneyLion offer cryptocurrency trading?
Yes. MoneyLion added crypto trading to its consumer app in partnership with Zero Hash, allowing users to buy and sell a limited selection of digital assets. The feature sits alongside traditional investment accounts, cash advances, and credit-builder loans within the membership-based app experience.
Where is MoneyLion's operational footprint?
MoneyLion maintains its corporate headquarters in New York City, with additional engineering and operations centers in San Francisco and Kuala Lumpur, Malaysia. The Kuala Lumpur office functions as a significant technology-development hub, employing engineers and data scientists supporting both consumer and enterprise products.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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