MoneyLife

MoneyLion CEO, Dee Choubey, Discusses Upcoming IPO and Company’s Next Steps

By Lavall Chichester
dee on cheddar

MoneyLion to trade on NYSE under ticker ML

MoneyLion’s CEO, Dee Choubey, sat down with cheddar to give an update on MoneyLion’s public offering. MoneyLion will soon be going public, and will be trading on the NYSE (New York Stock Exchange) under ticker symbol ML. Here’s the latest on how MoneyLion’s public offering, by putting the power of technology to work for a wider audience, is empowering growing millions of hardworking Americans to take control of their finances and achieve their life goals. Here are the highlights.  

MoneyLion is excited to deliver on its mission to rewire the banking system

Since MoneyLion’s inception in 2013, MoneyLion has engaged with nearly 8 million people by delivering better way for people to bank, borrow, save, invest and grow money — all through one easy-to-use mobile app. “We’re incredibly excited to be taking the company public,” said Choubey. “This is another step in our journey

and will enable us to scale our community and accelerate our mission by providing even more Americans with simple and comprehensive financial services capabilities that enable them to improve their lives.”

MoneyLion’s 2021 Q1 results were thrilling to see

In the first quarter of 2021:

  • MoneyLion accelerated both user and revenue growth compared to the last quarter of 2020, beating each of our key goals, and improving engagement across our platform. (Source: MoneyLion)
  • Net revenue increased 98%, reaching $33.2 million, and adjusted revenue also increased 125%, reaching $32.5 million. (Source: MoneyLion)
  • Our total customers grew 80%. (Source: MoneyLion)
  • Our total payment volume grew 213% to $306.4 million. (Source: MoneyLion)

MoneyLion continues to grow and strengthen in 2021

  • Online insurance and financial wellness marketplace. MoneyLion announced the launch of a new online marketplace that will provide insurance and financial wellness offerings to MoneyLion customers, through a partnership with NFP and Nationwide Insurance.  
  • Crypto. MoneyLion is set to launch a crypto marketplace later in 2021, where MoneyLion members can buy, sell and hold the world’s most in-demand cryptocurrencies.
  • Safety Net. MoneyLion is planning to launch a built-in financial safety net for its customers that will provide 0% APR cash advances up to $1,000 if and when customers need it.

[disclosure]This material is for informational purposes only and should not be construed as financial, legal, or tax advice. You should consult your own financial, legal, and tax advisors before engaging in any transaction. Information, including hypothetical projections of finances, may not take into account taxes, commissions, or other factors which may significantly affect potential outcomes. This material should not be considered an offer or recommendation to buy or sell a security. While information and sources are believed to be accurate, MoneyLion does not guarantee the accuracy or completeness of any information or source provided herein and is under no obligation to update this information. For more information about MoneyLion, please visit https://www.moneylion.com/terms-and-conditions/.

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