Benzinga | Apr 13, 2021 08:22AM EDT

Fusion Acquisition Corp. SPAC Merger Partner MoneyLion Reports Q4 Adj. Revenue $25.5M, Up 119% YoY, total Customers 1.4M, Up 60%

MoneyLion Inc. ("MoneyLion"), an award-winning data-driven, digital financial platform, today announced preliminary fourth quarter and full year results for the period ended December 31, 2020. In addition, the company is providing selected preliminary first quarter 2021 results.

Fourth Quarter 2020 Highlights

* Total customers grew 60% to 1.4 million, compared to 894 thousand in Q4 2019

* Total payment volume grew 89% to $172 million, compared to $91 million in Q4 2019

* Total originations grew 310% to $155 million, compared to $38 million in Q4 2019

* Adjusted revenue1 increased 119%, reaching $25.5 million, compared to $11.6 million in Q4 2019, while revenue increased 63%, reaching $22.5 million, compared to $13.8 million in Q4 2019

* Contribution profit2 increased to $15.2 million, compared to loss of $1.8 million in Q4 2019, while net loss increased to $17.2 million, compared to $15.7 million in Q4 2019