MoneyLion to Acquire Even Financial to Expand Distribution Network.

MANews-(C)2009-2021

New York-based digital financial platform MoneyLion Inc. (NYSE: ML) has agreed to acquire US-based B2B fintech company Even Financial Inc. to expand distribution capabilities and network of 900 partners, the company said.

The transaction provides for total consideration to Even's equity holders of up to USD 440m, using a convertible financing structure that values MoneyLion at its initial public listing price of USD10 per share.

Even's investors include Goldman Sachs, American Express Ventures, SoFi, F-Prime Capital, MassMutual Ventures, LendingClub, Canaan Partners, and GreatPoint Ventures.

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...

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