MoneyLion raises $22.5 million to change how you spend your money with AI

Personal finance management platform MoneyLion announced today that it scored a $22.5 million investment. Led by Edison Partners, the series A funding round, along with a $650 million in debt facilities from Macquarie Group, will lead MoneyLion to “growth and significantly expand its lending capacity.”

The New York-based startup’s technology uses machine learning analytics to “enable smarter tools and credit products” for individuals, offering “data-driven recommendations that provide a clearer understanding of their entire financial lives,” explained MoneyLion cofounder and CEO Diwakar Choubey.

“MoneyLion’s sophisticated technology, long-term view of the customer, and impressive leadership team place them one step ahead of the competition,” said Edison Partners’ Chris Sugden. “At the heart of MoneyLion’s platform are analytical models that power recommendations to help users achieve their financial goals, ranging from building savings, improving credit health, or managing an unexpected expense with a personal loan.”

Existing investors, including FinTech Collective, Citizen.VC, Clocktower Ventures, and Broadhaven Capital Partners, participated in the investment.