Press Release

June 19, 2021 8:30 am

MoneyLion Adds Accomplished Media and Tech Executives – Matt Derella, Lisa Gersh, Michael Paull – to its Board of Directors

New appointments bring decades of experience scaling consumer and digital businesses

Company completes board roster to be effective at the closing of the company’s public listing

NEW YORK, June 19, 2021 – MoneyLion Inc. (“MoneyLion” or the “Company”), an award-winning, data-driven, digital financial platform which recently announced it would become a public company via a merger with special purpose acquisition company, Fusion Acquisition Corp. (NYSE: FUSE), today announced three new independent director appointments to the company’s Board of Directors (“Board”), completing the Company’s Board roster. Matt Derella, global vice president of revenue and content partnerships at Twitter, Lisa Gersh, co-founder of Oxygen Media and a veteran of public company boards, and Michael Paull, president of Disney+ and ESPN+, will join the MoneyLion Board effective at the closing of the business combination transaction. Jeff Gary from Fusion Acquisition Corp. will also join the Board. 

“Matt, Lisa, Michael and Jeff are invaluable additions to our team given their extensive expertise engaging consumers across a multitude of platforms, scaling businesses and building world-class brands,” said Dee Choubey, MoneyLion co-founder and CEO. “I look forward to working with each of them to push MoneyLion further and deliver on our mission to empower hard-working Americans to take control of their finances and revolutionize the way the world manages money.”

The post-merger MoneyLion Board, led by Chairman John Chrystal, will be comprised of ten directors, nine of whom are independent directors as defined in the NYSE listing standards and applicable SEC rules. This includes Derella, Gary, Gersh, and Paull along with Annette Nazareth, former SEC Commissioner, Ambassador Dwight Bush Sr., former Ambassador to Morocco, and existing directors Choubey, Chrystal, vice chairman of The Bancorp, Inc., Greg DePetris, fintech and securities industry veteran, and Chris Sugden, managing partner, Edison Partners. 

Matt Derella

Derella is a technology expert with extensive experience leading companies through business and cultural transformations. Since joining Twitter in 2012, Derella has overseen the company’s revenue performance, content partnerships, country operations and customer service. Prior to joining Twitter, Derella spent five years at Google holding various leadership roles and transforming its business, which included taking YouTube into the television marketplace with the platform’s first Brandcast event. Derella holds a B.A. in English from Georgetown University and is currently on the boards of She Runs It and Mobile Marketing Association.

“It’s an exciting time to be joining MoneyLion as the company continues to deliver on its strategy to use technology and mobile banking to improve the way people interact with money,” said Derella. “I’m eager to offer my expertise to help MoneyLion stay at the forefront of how consumers are engaging across digital channels and help bring new capabilities to market at the intersection of content, data analytics, and financial services advice and solutions.”

Jeff Gary

Gary has significant experience in the financial services space spanning three decades covering M&A, portfolio management, corporate boards, private equity and SPAC transactions. He is currently Board Director and CFO of Fusion Acquisition Corp. and Fusion Acquisition Corp. II and serves as an Advisor/Board Member to four fintech companies: DealBox, Tokenplace, Arca and Total Network Service.  Previously, he was a Senior Portfolio Manager at BlackRock, Avenue Capital Group, Koch Industries and AIG.  A Certified Public Accountant, Gary earned an M. B. A. in Finance from Northwestern’s Kellogg School of Management and a B. S. in Accounting from Penn State University.

“MoneyLion has built a differentiated technology platform that has the power to revolutionize the way people bank, invest and manage their money,” said Gary. “This is a dynamic era for financial services with big disruption coming in fintech and the next steps of our journey will no doubt continue to propel this industry forward.”  

Lisa Gersh

Gersh is an experienced business and brand builder with more than three decades of experience across media, consumer goods and legal industries. Gersh co-founded and served as president and chief operating officer of Oxygen Media, president and chief executive officer of Martha Stewart Living Omnimedia, chief executive officer of, and as chief executive officer of Alexander Wang. Prior to leading these organizations, Gersh began her career at Debevoise & Plimpton LLP and Friedman Kaplan Seiler & Adelman LLP. 

She currently serves on the board of several public companies including Hasbro and Pershing Square Tontine Holdings, where she chairs both companies’ compensation committees, and Establishment Labs Holdings, where she chairs the nomination and governance committee. Gersh also serves on the board of directors for the Bail Project and is a member of the Retail Advisory Board of Samsung Electronics America. Gersh holds a B.S. in political science and economics from State University of New York Binghamton and received her Juris Doctor degree from Rutgers University School of Law.

“MoneyLion is at a pivotal moment amid a dynamic evolution in how consumers are engaging with brands and content to support their everyday needs, which is an area of business I’m very passionate about,” said Gersh. “I look forward to working alongside the team to innovate on how money and life come together for millions of Americans who need the right resources and tools to be successful in all aspects of their lives.” 

Michael Paull 

Paull is a seasoned corporate leader with over two decades of experience in the entertainment, digital, and media space. Since joining The Walt Disney Company, Paull has played a key role in the Company’s shift to streaming with launches of the flagship Disney+ and ESPN+ streaming services. Before becoming the president of Disney+ and ESPN+, Paull served as the chief executive officer and president of BAMTECH Media, vice president at Amazon, executive vice president of Sony Music Entertainment, and as senior vice president of Fox Entertainment Group. Prior to holding leadership positions at these organizations, Paull began his career at Time Warner, eMachines Inc, and Boston Consulting Group. Paull holds a B.S. from the University of California and received an M.B.A. from Harvard Business School.

“Consumer behaviors and media consumption continue to change rapidly and that presents great opportunities for disruption in financial services with innovators like MoneyLion,” said Paull. “We witnessed a similar revolution in the entertainment industry, and I want to apply that experience to help MoneyLion continue to push the boundaries of what’s possible when you apply technology to help empower people to improve their finances.”   

MoneyLion and Fusion Acquisition Corp Business Combination Update

MoneyLion remains on track to complete its previously announced merger with Fusion Acquisition Corp. (NYSE: FUSE) in July of 2021, subject to approval by the Fusion stockholders and other customary closing conditions.  Upon closing, the newly combined company will operate as MoneyLion and trade on the New York Stock Exchange (NYSE) under the symbol “ML”. 

About MoneyLion

MoneyLion is a mobile banking and financial membership platform that empowers people to take control of their finances. Since its launch in 2013, MoneyLion has engaged with 7.5 million hard-working Americans and has earned its members’ trust by building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can get a 360-degree snapshot of their financial lives and have access to personalized tips and tools to build and improve their credit and achieve everyday savings. MoneyLion is headquartered in New York City, with offices in San Francisco, Salt Lake City, Sioux Falls, and Kuala Lumpur, Malaysia. MoneyLion has achieved various awards of recognition including the 2020 Forbes FinTech 50, Aite group best digital Wealth Management Multiproduct offering, Finovate Award for Best Digital Bank 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People’s Voice Award.  

For more information about the company, please visit  For investor information and updates, visit and follow @MoneyLionIR.



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Additional Information About the Proposed Business Combination and Where to Find It

The proposed business combination will be submitted to shareholders of Fusion Acquisition Corp. (“Fusion”) for their consideration. Fusion intends to file a registration statement on Form S-4 (the “Registration Statement”) with the SEC which will include preliminary and definitive proxy statements to be distributed to Fusion’s shareholders in connection with Fusion’s solicitation for proxies for the vote by Fusion’s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to MoneyLion’s shareholders in connection with the completion of the proposed business combination. After the Registration Statement has been filed and declared effective, Fusion will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Fusion’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement / prospectus and any amendments thereto and, once available, the definitive proxy statement / prospectus, in connection with Fusion’s solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Fusion, MoneyLion and the proposed business combination. Shareholders may also obtain a copy of the preliminary or definitive proxy statement, once available, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Fusion, without charge, at the SEC’s website located at or by directing a request to Cody Slach and Matt Glover, (949) 574-3860, [email protected].

Participants in the Solicitation

Fusion, MoneyLion and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Fusion’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Fusion’s shareholders in connection with the proposed business combination will be set forth in Fusion’s proxy statement / prospectus when it is filed with the SEC. You can find more information about Fusion’s directors and executive officers in Fusion’s final prospectus dated June 25, 2020, filed with the SEC on June 29, 2020. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement / prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement / prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.

Forward-Looking Statements

The information in this communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics and expectations and timing related to potential benefits, terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of MoneyLion’s and Fusion’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of MoneyLion and Fusion. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the shareholders of Fusion or MoneyLion is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to MoneyLion; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; MoneyLion’s ability to manage future growth; MoneyLion’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on MoneyLion’s future business; the amount of redemption requests made by Fusion’s public shareholders; the ability of Fusion or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed in Fusion’s final prospectus dated June 25, 2020 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, in each case, under the heading “Risk Factors,” and other documents of Fusion filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither MoneyLion nor Fusion presently know or that MoneyLion and Fusion currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect MoneyLion’s and Fusion’s expectations, plans or forecasts of future events and views as of the date of this communication. MoneyLion and Fusion anticipate that subsequent events and developments will cause MoneyLion’s and Fusion’s assessments to change. However, while MoneyLion and Fusion may elect to update these forward-looking statements at some point in the future, MoneyLion and Fusion specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing MoneyLion’s and Fusion’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom.

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