Managing our financial lives can be a challenge. From banking to investing, there are a plethora of institutions, products and services to choose from in the market.
Whilst legacy banks have traditionally been focused on a specific service within the financial industry, MoneyLion has built a full-service digital platform to deliver mobile banking, lending, and investment solutions. From its app, users can get a complete overview of their financial lives.
It is a neobank on the rise. Since its launch in 2013, MoneyLion has signed up over 14M users, doubled its revenue between 2020-2021 and acquired a stake in digital asset settlement provider Zero Hash, adding crypto-based investing to their platform.
However, this is a highly competitive industry and one that in the first quarter of 2023, was highly volatile. MoneyLion also has big competition against the likes of Chime, Revolut, and RobinHood. Whilst competitive and operating within an evolving space, MoneyLion is continuing on a strong path through its marketplace strategy, matching members with partner brands and saw an increase in revenue through 2023.
Freddie
Company Specialist at Welcome to the Jungle
