REPORT
MoneyLion shared its Q3 2023 Earnings Presentation.
Here are the Key Takeaways:
➣ In Q3 2023, there was a record quarterly revenue of 110M.
➣ Revenue growth was 24% Y/Y and Adjusted EBITDA margin was 12%.
➣ Moneylion generated $30m of YTD Adj. EBITDA.
➣ 2.2 million total customers added in Q3 2023.
👀 NEWS HIGHLIGHT
Unit introduced the White-Label App: The full power of banking and lending – with one line of code.
“With White-Label App, Unit is the first and only company to offer software companies an even simpler and faster way to embed banking and lending. Our fully built app can be launched with one engineer, in one hour – and it includes complete functionality” Itai Damti, Unit Co-Founder & CEO said.
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🎤 PODCAST
Stuart Sopp, Current CEO, joins ‘Fast Money’ to talk user trends, the Buy Now Pay Later space, Current’s offerings and more. Listen now
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🇺🇸 NATIONAL HIGHLIGHTS
⭐️Plaid officially jumps into lending.
⭐️Payroll Integrations raises $20m Series A round led by Arthur Ventures.
⭐️Velo Payments launches Vizme, the world's first visual payments app built on Open Banking.
⭐️Neon Money Club becomes the first black-owned tech company in the US to launch an American Express Card.
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FINTECH
Origin launches Mint alternative: The first personal finance platform that offers expert guidance through AI Chat and access to a dedicated Certified Financial Planner.
All-in-one travel and expense solution Navan is taking its ‘bring-your-own-card’ technology across Europe.
PAYMENTS
Jack Henry lands more FedNow clients. The firm has connected 40 of its customers to the Federal Reserve’s new instant payments services system FedNow.
Adyen tempers Growth Targets to regain investors' confidence. The company has committed to more frequent updates, starting with quarterly reports, in a bid to restore investor confidence.
Klarna reported its latest financial results revealing a net profit in Q3 2023, marking the fourth consecutive quarter of gross profit in the US
CFPB proposes new oversight for payment tech firms. Google, Apple and 15 other big non-bank technology companies that provide digital wallets or payments apps would be subject to increased regulation if a new federal agency rule is approved.
DIGITAL BANKING
Goldman moves to unload GM credit card. Bank informed employees Tuesday of process to find new issuer as it retreats from consumer lending.
Profits soar for Brazilian neobank Inter, which added 1.6 million customers in Q3 2023 alone and has practically the same number of customers in its second market, the U.S.
Dave announces Third Quarter 2023 results. Jason Wilk, Founder and CEO of Dave, emphasized commitment to profitability by expanding member value.
Charlie announced the launch of FraudShield, a personalized suite of fraud protection tools built exclusively for the unique needs of 62+ Americans.
DONEDEAL
Accelex, a provider of AI automation for private markets data acquisition, reporting and analytics, raises a $15 million Series A funding round.
Volante Technologies has raised $66 million in a funding round led by Sixth Street Growth.
Improving relationships throughout the supply chain: Enable announces $120M series D raise at $1.12B valuation.
Black Ore emerges from stealth with $60 million in funding to bring AI to financial services.
mogul club raises $3.6M toward its effort to make real estate investing more accessible.
M&As
Bond.AI acquires Elastech. The acquisition strengthens BOND.AI’s data and cloud capabilities as it expands its signature Empathy Engine® technology to more markets.
MOVERS & SHAKERS
Jeeves welcomes Kash Baghaei as Chief Product Officer.
Kris Nuss appointed as Chief Revenue Office at FIntegrate Technology: A visionary step towards industry leadership.