MoneyLion has successfully completed a $70m loan facility refinancing with Silicon Valley Bank (SVB), a division of First-Citizens Bank & Trust Company.
This strategic move has allowed the digital financial ecosystem provider to significantly reduce its cost of capital by approximately 550 basis points while extending its debt maturity to 2029. This refinancing replaces the company’s existing senior debt, originally set to mature in 2026.
The newly secured credit agreement includes $70m in term loans, which were disbursed immediately. The proceeds were used to repay the outstanding $65m principal from the existing loan facility, alongside accrued interest and related fees. Additionally, the funds cover transaction-related expenses and provide working capital for general corporate purposes.
MoneyLion co-founder and CEO Dee Choubey emphasised the significance of this refinancing in advancing the company’s mission. “This refinancing marks an important milestone in MoneyLion’s evolution as we advance our mission to empower consumers with innovative financial solutions, now with a stronger and more flexible balance sheet commitment from a reputed bank partner in Silicon Valley Bank.”
Rick Correia, MoneyLion’s president and CFO, highlighted the long-term benefits of this transaction. “By lowering our cost of capital and extending our debt maturity, we’ve strengthened our financial position. This enables us to accelerate organic investments in innovation, expand our ecosystem, and position MoneyLion to scale rapidly and efficiently as we become the number one place for financial decisions.”
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