Team Penske Close To Deal With Financial Startup MoneyLion
Team Penske is close to announcing a new corporate partnership with financial technology startup MoneyLion, according to sources. The exact terms of the deal and which cars MoneyLion will be associated with across Penske’s operations in NASCAR and IndyCar, among other series, was unclear. Sources said that an announcement could happen as soon as this week. MoneyLion also is eyeing deals with other stakeholders in motorsports including tracks. The company, founded in ’13 and backed by venture capital firms including Fintech Collective and Broadhaven Capital Partners, has apps involved in the online lending and personal financial management spaces. It was unclear if MoneyLion is working with an agency on the deal.