Gen Extends its Financial Wellness Offerings with the Acquisition of MoneyLion

Gen Digital Inc. (NASDAQ: GEN), a global leader dedicated to powering Digital Freedom through its family of consumer brands, announced today that it has entered into a definitive agreement to acquire MoneyLion Inc. (NYSE: ML), a leading digital ecosystem for consumer finance that empowers everyone to make their best financial decisions. With the addition of MoneyLion, Gen builds upon its mission, now empowering people to grow, manage, and secure their digital and financial lives.

“Gen has a family of consumer brands that’s dedicated to protecting people’s privacy, identity and financial assets so they can live their digital lives securely and without worry,” said Vincent Pilette, CEO of Gen. “By bringing MoneyLion into the Gen family, we’re not only helping people protect what they already have, we’re extending our capabilities to enable people to better manage and grow their financial wealth. We look forward to welcoming the MoneyLion team, so together, we can power digital and financial freedom.”

MoneyLion is a leading digital ecosystem for consumer finance. Through this acquisition, MoneyLion extends Gen’s identity solutions into offering comprehensive financial wellness through MoneyLion’s full-featured personal finance platform that includes credit building and financial management services. Additionally, Gen acquires a scaled and proven B2B2C white-labeled AI recommendation platform that can be leveraged and enhanced by Gen’s consumer base. MoneyLion’s over 18 million customers broaden and diversify Gen’s customer base, expanding the Company’s top of funnel for full credit and identity protection.

“MoneyLion has built a mission-driven platform that empowers people to take control of their financial futures with confidence,” said Dee Choubey, Co-Founder and CEO of MoneyLion. “Joining Gen accelerates our vision by leveraging their global reach, trusted brands, and powerful ecosystem. We’ll deliver MoneyLion’s leading personal financial management tools and embedded financial marketplaces to Gen’s users while bringing Gen’s strong identity, trust and cybersecurity solutions to our customers. Together, we’ll create unmatched consumer value, combining innovative fintech products and experiences with Gen’s trusted network to empower smarter financial decisions and secure people’s digital and financial lives.”