MoneyLion Plus Propels First-Time Investors to Over $1 Million in Savings

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  • 93 percent of MoneyLion Plus members are investing for the first-time
  • Over the past 90 days, users have engaged with the platform nearly once every business day
  • 2 million Americans are now using MoneyLion to improve their financial well-being

NEW YORK–(BUSINESS WIRE)–In less than three months since MoneyLion introduced MoneyLion Plus, a membership offering consumers a better way to borrow, save and invest, members have collectively realized over $1 million in savings at a rate that exceeds the national average of 2.4 percent. In addition, the company has found that given simple incentives, its users are engaging with the application more than 20 times per month.

“America’s savings and debt crises are so closely intertwined that it’s impossible to solve one without the other”

These early outcomes of the program demonstrate how MoneyLion’s innovations in digital finance and AI-driven personalized guidance are helping consumers change their financial outcomes for the better.

“MoneyLion Plus proves that Americans overwhelmingly want to save – they just need to be given the right incentives,” said MoneyLion’s CEO and co-founder, Diwakar Choubey. “People are busy and too often saving gets pushed to the bottom of their to-do lists. We’ve found that with constant engagement, we can actually meaningfully and positively drive financial engagement and saving balances.”

A testament to the demand for financial products and education that truly address the challenges of the financial middle class, MoneyLion Plus members have embraced financial literacy and engagement. Members on average log into the app 20+ times a month to keep updated on their investments, learn more about their credit and savings, and access their personalized advice.

Launched in December 2017, MoneyLion Plus provides guided savings through a managed investment account, access to low-cost loans, and personalized financial tips provided daily to help the 70% of Americans who have less than $2,000 in savings build their credit and long-term wealth. Today, over 93 percent of MoneyLion Plus members are first-time investors.

“America’s savings and debt crises are so closely intertwined that it’s impossible to solve one without the other,” said MoneyLion’s CEO and co-founder, Diwakar Choubey. “The positive outcomes and behaviors we’ve seen since the launch of MoneyLion Plus show how better saving, investing and credit products can work seamlessly together to close the savings gap and make wealth-building a reality even for those starting out.

“Simply having access to a savings account doesn’t solve the challenges facing American consumers. What does make a difference is access to better financial products and personalized advice that work together to help consumers build lasting habits that lead to greater financial resilience and well-being,” added Choubey. “This philosophy is core to MoneyLion, and we look forward to continue to build offerings that make finance more engaging and accessible for hard-working consumers.”

MoneyLion now helps over 2 million consumers better their credit, saving and investing. This includes members of MoneyLion Plus, as well as members who receive free tools to track their credit and spending.

For more on how MoneyLion Plus is making a positive impact on member’s financial lives, see the MoneyLion blog for real customer success stories.

About MoneyLion

MoneyLion is a leading mobile finance platform that empowers consumers to take control of their financial lives through better products for borrowing, saving, and investing. Founded in 2013 by a team of leading technologists and financiers, MoneyLion uses superior analytics and machine learning-based technology to gain a 360-degree view of its users’ personal finances, enabling uniquely personalized advice and underwriting. With its built-in system of rewards, points, and incentives, MoneyLion encourages good financial behavior and better financial outcomes. MoneyLion is headquartered in New York with offices in San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. For more information, visit or download the app here.


MoneyLion’s affiliate, ML Wealth LLC, is a Registered Investment Advisor with the SEC. MoneyLion Plus members’ investments are protected by the SIPC (Securities Investor Protection Corporation) for up to $500,000. Brokerage services provided to clients of ML Wealth by Drive Wealth LLC, a member of FINRA/SIPC. Other services provided by our affiliates including ML Plus, LLC. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. Past performance is no guarantee of future results. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any securities or services.


Elliott Suthers, 415-593-1999
[email protected]

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