US account aggregation app MoneyLion raises $100 million

US account aggregation app MoneyLion raises $100 million

US app-based bank aggregation platform MoneyLion has completed a a $100 million Sseries C funding round.

The six-year old company, which claims five million members, enables users to view all their financial accounts from within a single app and receive advice on how better to manage their finances.

Dee Chouby, CEO and founder of Money Lion says: "In 2018, we helped our members avoid over $7.2 million in traditional banking fees, generated over $12 million in cashback rewards, and helped 70% of our members increase their credit scores by 30 points"

Up and coming features will include the introduction of 0% APR cash advances to help out with short-term cashflow issues, a high yield cash account and stock trading.

The latest round - which also includea an additional previously undisclosed $60 million in venture and debt capital financing - was led by Edison Partners and Greenspring Associates. MetaBank and FinTech Collective also participated in the round, while Capital One made a strategic investment.

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