NEW YORK--(BUSINESS WIRE)--MoneyLion, an AI-driven personal finance platform for the financial middle class, announced today that Ron Suber, President Emeritus of Prosper Marketplace and leading fintech investor, has joined the company’s board of advisors. Since its founding in 2013, MoneyLion has helped more than two million Americans improve their financial well-being through a unique combination of engagement incentives and personalized advice.
In his role as a strategic advisor, Suber will counsel MoneyLion’s CEO Diwakar Choubey and the leadership team on topics such as capital markets, customer acquisition and marketing. Suber is not only an advisor but also a personal investor in MoneyLion’s credit fund.
MoneyLion joins Suber’s impressive advisory portfolio, made up of nine other fintech upstarts, which Suber considers most influential. MoneyLion is the final company on his roster, which also includes DocuSign, Juvo and HouseCanary. Before joining MoneyLion, Suber held executive positions at Bear Stearns, Spectrum Global, Merlin Securities, Wells Fargo Securities, among others.
“MoneyLion is making professional-grade financial technology available to millions of middle class Americans for the first time,” said Ron Suber, MoneyLion Advisor. “MoneyLion’s technology is a rare example of how fintechs should be built for scalability and longevity. I’ve observed the MoneyLion team for many years, and their data-driven, technology-first approach differentiates them from other industry players. After talking to debt investors and leverage providers from around the world, it became clear there is a major gap in the market for middle class borrowers. MoneyLion has the technology, team and strategy to become PayPal 2.0 - a platform that opens finance up to an entirely new generation.”
Last December, MoneyLion launched MoneyLion Plus, which provides guided savings, fully-managed investment accounts, access to low-cost loans, and personalized daily financial tips to the 70 percent of Americans who have less than $2,000 in savings. Today, over 93 percent of MoneyLion Plus members are first-time investors. In less than three months since MoneyLion Plus was introduced, members have collectively realized over $1 million in savings.
“The key to unlocking the financial potential of America’s middle class is providing the power to access credit without derailing the ability to build assets,” said Diwakar Choubey, MoneyLion Co-founder and CEO. “Ron’s institutional knowledge of traditional finance and fintech will bring MoneyLion a huge step closer to realizing its vision of a completely democratized financial system. As we focus on building a technology to help financially empower the underserved community, Ron’s global perspective of the industry will be invaluable.”
MoneyLion is a leading mobile finance platform that empowers consumers to take control of their financial lives through better products for borrowing, saving, and investing. Founded in 2013 by a team of leading technologists and financiers, MoneyLion uses superior analytics and machine learning-based technology to gain a 360-degree view of its users’ personal finances, enabling uniquely personalized advice and underwriting. With its built-in system of rewards, points, and incentives, MoneyLion encourages good financial behavior and better financial outcomes. MoneyLion is headquartered in New York with offices in San Francisco, Salt Lake City and Kuala Lumpur, Malaysia. For more information, visit www.moneylion.com or download the app here.
MoneyLion’s affiliate, ML Wealth LLC, is a Registered Investment Advisor with the SEC. MoneyLion Plus members’ investments are protected by the SIPC (Securities Investor Protection Corporation) for up to $500,000. Brokerage services provided to clients of ML Wealth by Drive Wealth LLC, a member of FINRA/SIPC. Other services provided by our affiliates including ML Plus, LLC. This communication and all data are for informational purposes only and do not constitute a recommendation to buy or sell securities. Past performance is no guarantee of future results. Keep in mind investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any securities or services.