MoneyLion, a US-based personal finance platform that counts financial services firm Grupo Sura as an investor, has raised $28.8m in new funding, according to a regulatory filing.
The company has not disclosed details of the round, but the filing indicates six investors provided the funding, which is part of a series B-2 round it expects to close at $40m.
Founded in 2013, MoneyLion has developed an app that brings together saving, borrowing and investment products in a single place, using machine learning and analytics technology to provide each user with a detailed analysis of their financial situation.
The new funding comes after MoneyLion added savings and checking options to its MoneyLion Plus platform in April this year, essentially expanding it into an all-purpose banking app.
MoneyLion has now raised a total of almost $96m altogether, $42m of which came in a January 2018 series B round led by growth equity firm Edison Partners and backed by existing investors Grupo Sura and FinTech Collective, as well as Danhua Capital and Greenspring Associates.
The January round followed a $22.5m series A round in 2016, also led by Edison Partners, that included FinTech Collective, Broadhaven Capital Partners, Montage Ventures, Citizen.VC, Clocktower Ventures and various angel investors.