Edison Partners exits MoneyLion following Gen Digital acquisition

PRINCETON, N.J. - Edison Partners, a notable growth equity firm, has successfully exited its investment in financial technology company MoneyLion Inc. (NYSE: ML), which was recently acquired by Gen Digital Inc. (NASDAQ: GEN), a $15.7 billion market cap technology company, in a transaction completed on April 10. According to InvestingPro data, Gen Digital maintains a robust 80% gross profit margin and is currently trading below its Fair Value. This marks Edison’s third major exit since the beginning of 2025, underscoring its strategic investment acumen.

Edison Partners first backed MoneyLion in 2016, playing a pivotal role in the fintech company’s evolution into a leading global provider of personalized financial services. With Edison’s support, MoneyLion expanded its user base by 700 percent to over 20 million customers and became a publicly-listed entity on the New York Stock Exchange in 2021. It also earned recognition as one of CNBC’s World’s Top Fintech Companies.

MoneyLion’s growth has included the launch of a consumer finance super app and the acquisition and rebranding of Even Financial to Engine by MoneyLion, which bolstered its B2B2C offerings. Additionally, the company introduced MoneyLion Checkout, a marketplace solution facilitating instant transactions for various third-party financial products within its ecosystem.

Chris Sugden, managing partner at Edison Partners, praised MoneyLion’s impact on the industry, highlighting its role in the digitization of consumer finance and wealth management. Sugden also noted that the exit from MoneyLion generated one of Edison’s top five largest capital returns.

Dee Choubey, co-founder and CEO of MoneyLion, acknowledged Edison’s integral contribution to the company’s rapid and profitable expansion, emphasizing the guidance provided in areas such as market strategy and preparation for going public.

Edison Partners has demonstrated its investment prowess with additional exits this year, including a lucrative minority stake sale of Zelis to Mubadala Investment Company and the recent exit from RapidDeploy to Motorola Solutions.

This series of strategic divestitures reflects Edison Partners’ expertise in identifying and nurturing high-growth companies, particularly in sectors like vertical SaaS, financial technology, and healthcare IT.

The information in this article is based on a press release statement.

In other recent news, Gen Digital Inc. reported a 4% year-over-year increase in revenue for the third quarter of 2024, reaching $986 million. The company also experienced an 11% rise in net income to $350 million, and a 15% growth in earnings per share, which stood at $0.56. Shareholders of MoneyLion Inc. have approved the company’s acquisition by Gen Digital, with the transaction expected to close in April 2025. This acquisition is anticipated to enhance Gen Digital’s financial wellness offerings and market position. Additionally, Gen Digital plans to issue $1.1 billion in senior notes to refinance existing debt and support general corporate activities. Norton, a division of Gen Digital, has launched new AI-powered scam protection features to combat increasing cyber threats. These developments reflect Gen Digital’s strategic initiatives and ongoing growth in the cyber safety sector.

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