MoneyLion Teams Up With Bubba Wallace and 23XI Racing to Drive Back-To-School Change

MoneyLion Inc. (“MoneyLion”) (NYSE: ML), a leader in financial technology powering the next generation of personalized products and content, announced today that it has teamed up with Bubba Wallace and his non-profit, The Live to Be Different Foundation, and 23XI Racing on a back-to-school initiative that includes a donation of backpacks and school supplies to the Boys & Girl Club of America in Statesville, North Carolina. In addition to the donation, MoneyLion will also be launching a back-to-school brand campaign between now and the end of September focused on helping teachers, parents, and students.

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MoneyLion, Bubba Wallace, & 23XI Racing, unite with Boys & Girls Club to support kids for back-to-school (Photo: Business Wire)

As of the 2022-2023 school year, teachers spent an average of $820.14 out of pocket for the cost of classroom supplies (source). With inflation also severely affecting the prices of back-to-school necessities, these costs are becoming harder for teachers to front each year. To help teachers cope with the ever-increasing costs and financial stress around the back-to-school season, MoneyLion’s Financial Freedom campaign will run from August through the end of September, which will be promoted across its content and social media channels for easy accessibility to back-to-school tips and tricks. MoneyLion can help teachers, parents, and students find the best deals, savings, and financial assistance to liberate their wallets and ensure their finances are in shape around back-to-school.

As part of the joint campaign, MoneyLion is contributing a monetary donation of $6k to the Boys & Girls Club located in Statesville, North Carolina in coordination with a school supply drop off led by The Live to Be Different Foundation and 23XI Racing, where Bubba Wallace made a special appearance. The event kicked off a week of NASCAR-related activity for MoneyLion, including an interactive, social media driven cash giveaway to one lucky fan as part of MoneyLion’s HotPass program. The activities will culminate in Wallace driving the No. 23 MoneyLion Toyota Camry TRD at the Indianapolis Road Course on August 13.

“It’s important these kids have everything they need to start the year off on the right foot,” Wallace said. “I commend MoneyLion for stepping up and making these school supplies one less thing families have to worry about as they prepare for the new school year. This partnership is a great example of the impact we can have away from the track by working together and epitomizes what Forward Together means to me, the Live to Be Different Foundation and our team.”

“We are excited to partner with Bubba Wallace and 23XI Racing in the back-to-school giveaway to help our teachers, students, and parents prepare for the upcoming school year,” said Cynthia Kleinbaum, Chief Marketing Officer of MoneyLion. “Purchasing school supplies can be a very difficult and stressful time and we want to serve as an ally for teachers, students, and parents nationwide in providing reprieve from out-of-pocket costs in order for them to afford all of the supplies needed.”

The back-to-school giveaway strengthens the partnership between 23XI fans, NASCAR fans and MoneyLion, further solidifying the company's commitment to connect with, engage, and motivate hard-working Americans to build their financial power. For more information please visit www.moneylion.com or read more on the MoneyLion blog here.

About MoneyLion

MoneyLion is a leader in financial technology powering the next generation of personalized products and content, with a top consumer finance super app, a premier embedded finance platform for enterprise businesses and a world-class media arm. MoneyLion’s mission is to positively change people’s financial path by rewiring the financial system and empowering them with greater financial literacy and access. In our go-to money app for consumers, we deliver curated content on finance and related topics, through a tailored feed that engages people to learn and share. People take control of their money life with our innovative financial products and marketplace - including our full-fledged suite of features to save and invest - seamlessly bringing together the best offers and content from MoneyLion and our 1,000+ enterprise partner network, together in one experience. MoneyLion’s enterprise technology provides the definitive search engine and marketplace for financial products, enabling any company to add embedded finance to their business, with advanced AI-backed data and tools through our platform and API. Established in 2013, MoneyLion connects millions of people with the financial products and content they need, when and where they need it.

For more information about MoneyLion, please visit www.moneylion.com.

About 23XI Racing

23XI Racing – pronounced twenty-three eleven – was founded by NBA legend Michael Jordan and three-time Daytona 500 winner Denny Hamlin in 2020. With rising NASCAR star Bubba Wallace selected to drive the No. 23 Toyota Camry TRD, the team made its NASCAR Cup Series debut in the 2021 Daytona 500 at Daytona International Speedway. Wallace made history on October 4, 2021, when he captured his first career Cup Series win, becoming just the second African American to win in the Cup Series, and earning 23XI its first-ever victory. 23XI expanded to a two-car organization in 2022 with Cup Series Champion Kurt Busch driving the No. 45 Toyota Camry TRD. With a win at Kansas Speedway in May of 2022, Busch earned 23XI the team’s first-ever playoff berth. 23XI currently features the lineup of Bubba Wallace in the No. 23 Toyota and Tyler Reddick in the No. 45 Toyota.

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