DTC's Daily Digest gives you the latest news on the fastest growing brands in the world. In today's edition: MoneyLion is approaching the status of Rhino; Mojo Mortgages and Monso Group. Coke is investing in Kombucha DTC.
MoneyLion is approaching the Unicorn position
Mobile banking platform raised MoneyLion A $ 100 million round of C financing (£ 80 million). The amount is more than double US $ 42m (£ 34m) raised in a Series B Just 18 months ago, he thought he might put the work near the Unicorn value. To describe them as "Costco / Netflix" in the financial sector, MoneyLion offers a range of services to its customers using the Membership Form.
MoneyLion has now raised a total of $ 227.5 million (£ 183 million) since its inception in 2013. Investors included a group of strategic investors (Capital One, MetaBank) and current financial investors.
The company says it has more than 5 million members currently. To compare to more than 4 million Back in April And More than 3 million Last October. The company said its membership had grown at an annual rate of more than 1,000%.
MoneyLion uses artificial intelligence and automated learning to "make customized recommendations to save money" and do things like help people improve their credit score. Looking ahead, the company said it plans to launch a trading platform in the fourth quarter of this year.
Mojo Mortgages and Monso Group
Mojo Mortgages Launched Integration with Monzo To offer its customers product remortgage recommendations designed within the banking application.
"Because we can access the details of our Monzo bank account, we can get the full facts by simply having to ask 11 or 12 additional questions to find the right mortgage product," says Eddie Ross, chief product manager at Mojo Rtiggiz. After that, the bank application and customers are offered the option of booking a call with a Mujo broker.
This is an interesting partnership between two of the leading UK trading companies in each of their categories (banks and mortgages). The team will allow both companies to benefit from each other's insights. Because the two companies do not compete directly, although they work in a similar space, this will allow them to gain valuable knowledge about what potential customers are looking for, without sacrificing their position in the market.
Coke invests in DTC kombucha
DTC brand soft drinks Health Uday Kombucha Receive An investment of US $ 20 million (£ 16 million) from Coca-Cola. Coke has already invested an undisclosed amount in Health-Ade in 2014, raising $ 7 million (£ 5.6 million) in 2016.
Coca-Cola continues to develop its product portfolio to support its vision as not just a soft drink company, but a "full beverage company," said CEO James Quincy. The investment in the kombucha brand is well matched with the other efforts of the beverage giant recently to increase the activity of the basic soda with healthy ingredients such as tea, water and coffee.
Along with Coca-Cola, other major food and beverage companies have entered the kombucha category to expand their core portfolios. PepsiCo acquired KeVita in 2016, and Molson Coors bought Clear Kombucha last year. In 2017, 301 Mills, the venture capital arm of General Mills, led an investment round of $ 6.5 million (£ 5 million) to Farmhouse Culture, an emerging company producing Probiotics fermented foods and beverages, and Peet's Coffee, (US $ 7.5 million) a £ 6 million financing round for Revive Kombucha.