MoneyLion Completes Acquisition of Even Financial, the Category Leading Embedded Finance Marketplace|||

Acquisition Expands MoneyLion’s Distribution Network, Accelerating MoneyLion’due south Mission of Providing Fiscal Access and Advice to Hard-working Americans

Acquisition Expected to be Accretive to MoneyLion

s 2022 Earnings

NEW YORK–(BUSINESS WIRE)–MoneyLion Inc. (“MoneyLion”) (NYSE: ML), the laurels-winning digital financial platform, has completed its conquering of Fifty-fifty Financial Inc. (“Even”), the category-leading embedded finance marketplace. The acquisition strengthens MoneyLion’s platform by improving consumers’ abilities to observe and admission the right fiscal products to help them manage their fiscal lives through Even’s network, spanning over 400 fiscal institution partners and 500 aqueduct partners and roofing a latitude of financial services including loans, credit cards, mortgages, savings and insurance products.

The acquisition increases MoneyLion’southward distribution capabilities, diversifies its revenue composition and is expected to exist accretive to MoneyLion’southward earnings, with Even expected to add positive EBITDA in 2022, excluding synergies.


With this transaction, we have combined MoneyLion’due south powerful kickoff-party products and open up compages marketplace with Fifty-fifty’s dynamic recommendation engine and expanding partner network to augment the range of products and services inside the MoneyLion platform,” said Dee Choubey, co-founder and CEO of MoneyLion. “
In doing so, we have enhanced our product leadership to position MoneyLion as a ‘must have’ consumer finance production for hard-working Americans. Together, MoneyLion and Even will better existing consumers’ financial lives and expand our aperture to service a new segment of consumers. Together with our current capabilities, we are well positioned to advance our leading position in hyper-personalized lifestyle content and financial recommendations.”

Phillip Rosen, founder and CEO of Even commented, “
At Fifty-fifty, our vision has ever been to revolutionize how consumers receive recommendations for financial services. Through a combination of machine learning expertise and our trusted user experience, Even has helped over 400 financial institution partners notice and connect with consumers. Going forward, nosotros are excited to play an integral role in powering MoneyLion’southward fast-growing Marketplace and offer MoneyLion’s suite of products to our aqueduct partners.”

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MoneyLion and Fifty-fifty accept completed the first phase of their product integration, with over 60 solutions providers from Even’s network now represented in MoneyLion’southward Market place across personal loans, life insurance, auto insurance, homeownership and other services.

Even will keep to operate equally an independent subsidiary of MoneyLion, led by Even’s current management team. Phillip Rosen will continue in his part every bit CEO of Even and will bring together MoneyLion’s executive committee.

Evercore served as fiscal advisor and Davis Polk & Wardwell LLP every bit legal advisor to MoneyLion. Broadhaven served equally financial advisor and Goodwin Procter LLP equally legal advisor to Even.

For additional information about the acquisition, please review the investor presentation.

About MoneyLion

MoneyLion is a mobile banking and fiscal membership platform that empowers people to take command of their finances. Since its launch in 2013, MoneyLion has engaged with millions of hard-working Americans and has earned its members’ trust past building a full-service digital platform to deliver mobile banking, lending, and investment solutions. From a single app, members can go a 360-degree snapshot of their finances and have access to personalized tools, content and offers designed to improve their financial lives. MoneyLion is headquartered in New York City, with offices in 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 Banking concern 2019, Benzinga FinTech Awards winner for Innovation in Personal Finance 2019 and the Webby Awards 2019 People’s Voice Honour.

For more information most the visitor, visit www.moneylion.com. For investor data and updates, visit www.moneylion.com/investors and follow @MoneyLionIR on Twitter.

About Fifty-fifty Financial

Founded in 2014, Even digitally connects and matches consumers with real-time, personalized financial product recommendations from banks, insurance and fintech companies on mobile apps, websites and other consumer touchpoints through its market technology. Even’s infrastructure leverages machine learning and avant-garde information scientific discipline to solve a significant pain point in financial services customer acquisition, seamlessly bridging financial services providers (such as SoFi) and aqueduct partners (such as TransUnion) via its industry-leading API and embedded finance marketplaces. Fifty-fifty enables any company to add together financial products to their business, with full compliance and security at scale. Even was named 1 of “
America’south Best Startup Employers” by Forbes for 2021 and placed in the Top 50 of the 2020 Deloitte Technology Fast 500, which recognizes the fastest growing tech companies in the world. Acquire more at world wide web.evenfinancial.com.

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Forward-Looking Statements

The data in this press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Frontwards-looking statements may exist identified by the utilize of words such as “gauge,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate hereafter events or trends or that are not statements of historical matters. These forward-looking statements include, just are not express 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 press release, and on the current expectations of MoneyLion’s management and are not predictions of actual performance. These forrard-looking statements are provided for illustrative purposes only and are non intended to serve as, and must non 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 bodily events and circumstances are beyond the control of MoneyLion. These frontwards-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business concern, market, financial, political and legal weather condition; the inability of the parties to successfully or timely consummate the proposed transaction, including the run a risk that whatever required regulatory approvals are not obtained, are delayed or are subject to unanticipated weather that could adversely affect the combined company or the expected benefits of the proposed transaction; failure to realize the predictable benefits of the proposed transaction; risks relating to the uncertainty of the projected financial information with respect to MoneyLion; future global, regional or local economic and market place conditions; the development, furnishings and enforcement of laws and regulations; MoneyLion’south ability to manage future growth; MoneyLion’south 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 time to come business organization; or, the outcome of any potential litigation, authorities and regulatory proceedings, investigations and inquiries. If any of these risks materialize or our assumptions prove wrong, actual results could differ materially from the results implied past these forrard-looking statements. There may be boosted risks that MoneyLion presently knows or that MoneyLion currently believes are immaterial that could also crusade actual results to differ from those contained in the forward-looking statements. In addition, frontwards-looking statements reflect MoneyLion’s expectations, plans or forecasts of future events and views as of the appointment of this press release. MoneyLion anticipates that subsequent events and developments will crusade its assessments to change. However, while MoneyLion may elect to update these forward-looking statements at some signal in the hereafter, MoneyLion specifically disclaims any obligation to exercise so. These forward-looking statements should not be relied upon every bit representing MoneyLion’s assessments every bit of whatsoever date subsequent to the date of this printing release. Accordingly, undue reliance should not exist placed upon the forwards-looking statements.

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Contacts

Cody Slach, Alex Kovtun

Gateway Investor Relations

(949) 574-3860

ML@gatewayir.com

Source: https://www.dailyhostnews.com/moneylion-completes-acquisition-of-even-financial-the-category-leading-embedded-finance-marketplace