MoneyLion to acquire Even Financial for $440 million

MoneyLion to acquire Even Financial for $440 million

Mobile banking platform MoneyLion is to buy embedded finance marketplace Even Financial for a total consideration of $440 million.

Founded in 2014, Even digitally connects and matches consumers with real-time personalised financial product recommendations from banks, insurance, and fintech companies on mobile apps, websites, and other consumer touchpoints through its marketplace technology.

Even's marketplace network includes over 400 financial institutions and 500 channel partners, covering a breadth of financial services including loans, credit cards, mortgages, savings, and insurance products.

Dee Choubey, co-founder and CEO of MoneyLion, comments: “Combining Even’s best-in-class recommendation engine with MoneyLion’s powerful first-party products and open architecture marketplace expands the range of products and services available within our platform, while delivering a new distribution channel for Even’s financial partners."

MoneyLion generated $500 million in cash to fund growth during its $2.9 billion Spac listing in