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“The future of finance is in the palm of your hand, thanks to fintech apps.” 

Tim Cook

In today’s fast-paced world, financial flexibility is a game-changer, and cash advance apps like MoneyLion have transformed the way we access funds. These apps offer quick and convenient solutions for financial emergencies, making them incredibly popular among consumers. But if you’ve ever wondered about the costs involved in creating a similar cash advance app, you’re not alone.

Building a cash advance app like MoneyLion involves careful planning, cutting-edge technology, and a dedicated development team. From designing a user-friendly interface to implementing robust security measures, every aspect of app development comes at a cost.

In this blog post, we’ll dive deep into the nitty-gritty details, exploring the various factors that influence the cost of developing a cash advance app like MoneyLion.

So, if you’re ready to embark on this financial technology journey, let’s uncover the secrets behind the investment needed to bring your app idea to life.


What is the Moneylion App?

Moneylion App

MoneyLion is a mobile app that helps users manage their finances. It offers a variety of financial services in a single app, including banking, lending, investing, and credit monitoring.

MoneyLion users can access personal loans and get insights about their credit scores, as well as open a MoneyLion account without requiring a minimum balance. They can also invest in customized portfolios based on their goals.

It uses AI-driven tools that help users make informed decisions about their finances. It is a financial service provider that provides easy access at affordable prices. It’s a great resource for anyone looking to improve their financial health.

However, when you develop personal finance management apps like MoneyLion, you should first determine its development cost with experts who can provide you with an estimation.


Why Must Businesses Invest in Cash Advance Apps?

Businesses should invest in cash advance apps to tap into a growing market of consumers seeking convenient, on-demand access to funds. These apps provide a revenue stream through interest and fees, while also fostering customer loyalty. They offer a competitive edge by meeting the evolving financial needs of customers, especially in emergencies. Now let’s have a look at the current market statistics of instant cash apps like Moneylion:

Cost to Build a Cash Advance App like Moneylion

Source: Statista

  • In the last 12 months, 6.23 percent (of respondents between 18 and 29) said that they had used a title loan or cash advance shop.
  • MoneyLion’s market cap, or net worth, was $733.62 million as of 19 September 2023. Its market capitalization has increased by 108.41% over the past year.
  • In 2020, the number of cash advances made at Polish point-of-sale terminals is estimated to be 17 million.
  • The total transaction value of the Digital Payments Market is expected to reach US$9.46tn by 2023.
  • The total transaction value will grow at a rate of 11.80% per year (CAGR from 2023-2027), resulting in an estimated total of US$14.78tn.
  • Digital Commerce is the largest market with an estimated total transaction value in 2023 of US$6.03tn.
  • China is the country with the highest cumulative transaction value (US$3,639.00bn by 2023).


Cost to Build a Cash Advance App like Moneylion

The cost to develop a cash advance app like MoneyLion is not easy to estimate if you don’t know the concept. The cost of building an app like Moneylion is affected by several factors. However, we can estimate the cost of developing a Moneylion-like loan app.

Fintech apps cost between $10,000 and $25,000. The range is large because each enterprise has different needs and wants for their app.

For a basic moneylion app, the moneylion mobile app development can range from $10,000 to $14,000. However, if you need a customized app, it can cost between $15,000-$20,000. Also, a customized app with advanced features can cost over $25,000 and more.

But, these are estimated costs. To know the exact cost estimation, you need to consult with a professional ewallet app development services provider. Moneylion offers many more features than payday loans. Share your ideas with the developers if you have any.

However, if you are looking to create a Cash Advance App like Moneylion, you will need to hire mobile app developers.


Factors Affecting the Cost to Build a Cash Advance App like Moneylion

The cost to build cash advance apps like Moneylion is affected by a variety of factors. The price of an app can be affected by a variety of factors, including the location and hourly rate for the custom fintech app development services provider. Understanding these factors will help you make more informed budgetary decisions.

Factors Affecting the Cost to Build a Cash Advance App


1.  App Platform

The underlying platform is one of the most important factors in determining the moneylion app development cost. Although the cost difference between building iOS and Android apps is negligible, it’s usually better to start out with Android due to its large user base. Once your app has gained traction, you can upgrade to a multi-platform app for an extra cost.


2. UI/UX Design

The UI/UX of the app is another important factor that affects and determines the cost of app development. The UI/UX design of an app is a crucial part of the development process. The more seamless and aesthetically pleasing the app is, the higher the user retention rate. The budget for money apps like Moneylion will increase or decrease depending on the number of testing iterations required to achieve a seamless UX/UX that is in line with the essence of your brand.


3. App Development Team Size

Hiring a dedicated team who can build an app like Moneylion is one of the main factors that influence the cost. It is more common to hire a dedicated app development team than to hire dedicated developers as freelancers, as they lack the professional expertise and experience needed to complete complex projects efficiently. A professional team can ensure maximum ROI by helping you achieve your goals and requirements using an outsourcing firm.


4. App Maintenance & Updates

App maintenance costs can affect your budget for the entire app. The app maintenance costs are an unavoidable part of app development because it’s important to keep your app running and up to date with the latest technology standards. App maintenance costs can be high in order to maintain a Finance app like Moneylion and offer necessary upgrades to meet market demands. The cost of your app can increase if you want to implement new technology.


5. Location of the App Development Agency

The location of the loan app development services team hired also affects overall AI-based app costs. The hourly rates for developers in places like Asia or Africa are lower than those of organizations in the UK and US. It is recommended that you outsource your mobile banking app development projects to developing countries to maintain your banking app development cost and budget.


6. Technology Stack

Costs of app development are affected by the underlying technology used in AI-powered applications. The cost of implementing AI-ML, speech recognition, and other technologies is higher, but it also allows for an app to be more robust and scalable.


7. Features and Functionalities

The FinTech app development cost is also affected by the feature list. A budgeting app that has a simple feature list is cheaper than one with extensive features. Although the cost of the app may increase, it is worth the investment to have an app that has a large number of features.


Top 5 Alternatives of Moneylion App


Cash Advance Apps Platforms Available Download Ratings
Chime Android | iOS 10M+ 4.7
Earnin Android | iOS 5M+ 4.6
Dave Android | iOS 10M+ 4.3
Brigit Android | iOS 1M+ 4.7
SoLo Funds Android | iOS 100K+ 4.4


1. Chime



Chime offers both checking and savings accounts. SpotMe1 is a service that allows overdrafts. SpotMe protects you against fees when you spend more than your account balance.

The mobile banking app like Chime allows members who qualify to make a debit card purchase of up to $200 without being charged a fee. Chime offers a secured card, as well as a savings and credit account.


2. Earnin



Earnin allows you to borrow money against your next paycheque quickly, without fees or interest. It links users’ bank accounts when they sign up for its app to verify payment schedules. It calculates the users’ working hours either by using the GPS on their phones or by having them submit a timesheet. The app calculates an hourly rate of pay based on the amount the user has received in direct deposit.


3. Dave



Dave can help you if overdraft charges are a problem. Dave’s app alerts users to potential overdrafts like an upcoming invoice and warns them before their account is overdrawn. The app also offers a summary called Yours to Spend, which is a budget that takes into account income and previous expenses to determine how much money users can spend.

Dave will lend you a small amount if you do not have enough money to cover an upcoming expense. The maximum amount of the advance is determined by how much money you can pay back at your next payday. The user is expected to pay back the interest-free loan as soon as they receive their next paycheck.


4. Brigit



Brigit, another budgeting app, offers cash advances for between-paycheck funding. It must connect with the checking account of a user who has been active for at least 60 consecutive days to receive an advance. The checking account also needs to have a balance of $0 or more and at least three direct deposits. The Brigit score is based on your bank account balance and spending history. This helps the app determine if you are eligible for instant cash.


5. SoloFunds

SoLo Funds


SoloFunds is a peer-to-peer cash advance app that allows users to borrow and lend money from each other. It is a unique app in that it does not charge interest or fees, and it does not require a credit check. Instead, borrowers are asked to provide a reason for their request and repayment date, and lenders can choose which requests to fund


How Businesses Can Make Money From Cash Advance App like Moneylion?

Now that you have the most popular cash advance apps like Moneylion, we will discuss the monetization strategies of cash advance. So let’s have a look:

How Businesses Can Make Money From Cash Advance App


1. Interest and Fees

Cash advance apps rely heavily on interest and fees. Businesses can set rates of interest and fees to generate income, while still remaining competitive on the market. Cash advance app like Moneylion offer a more convenient and accessible alternative to traditional bank loans.


2. Subscription Models

Subscription plans are a great way to monetize apps that offer cash advances. Users can pay monthly or annually for premium features such as quicker loan processing, higher borrowing limits, or additional financial resources.


3. In-App Advertisements

Ads that are specifically targeted can be incorporated into a Moneylion mobile banking app to generate revenue. Businesses can customize ads to meet the needs and interests of users by tailoring them according to their financial interests. To avoid annoying users, it is important to find a balance between the monetization of ads and the user experience.


4. Affiliate Partnerships

Affiliate partnerships with businesses or financial services can be lucrative. Cash Advance App Like MoneyLion owners earn a commission when users purchase financial products or services that are recommended by their app. This strategy diversified revenue streams and provided added value to the users.


5. Cross-Selling Financial Products

Businesses can use the user base of an app to cross-sell financial products and services such as savings accounts, credit cards or insurance policies. The monetization of these sales is aided by commissions.


Cost to Build a Cash Advance App like Moneylion


6. Credit Scoring and Data Analysis

The Cash Advance app like Moneylion collects data from users for risk assessment and credit scoring. Businesses can monetize these data by selling anonymized, aggregated insights to credit bureaus or financial institutions looking to improve their credit assessment models.


7. Late Payment Fees

Businesses can charge late fees to encourage users to pay their debts on time. These fees generate extra income and encourage responsible borrowing.


8. Referral Programs

Referral programs allow users to earn discounts or rewards by referring their friends and family members to the app. Referral bonuses are given to the original user when new users sign up for the app and borrow money. This method encourages app growth and monetization.


9. Premium Data Insights

Businesses that have accumulated significant data about user behavior and financial transactions can generate revenue by offering data insights at a premium to other financial institutions or researchers. These insights can be used to help businesses make better decisions and identify trends.



Creating a cash advance app like Moneylion involves several factors that impact development costs that we have already discussed. From design and security features to compliance and scalability, each aspect requires careful consideration.

To embark on this journey, partnering with experienced companies who provide on-demand business app development solutions can be beneficial.

Their expertise can help navigate the complexities, ensuring a successful and cost-effective venture into the world of a cash advance app like Moneylion while staying competitive in this rapidly evolving financial technology landscape.



1. How Much Time Does it Take to Build a Cash Advance App Like Moneylion?

The development timeline can range from 3-7 months to over a year, depending on the app’s complexity and features.


2. How to Reduce the Cost to Build a Cash Advance App like Moneylion?

Outsourcing to countries with lower labor costs can be cost-effective, but it’s essential to consider factors like language barriers, time zone differences, and quality assurance when choosing an outsourcing partner.


3. How to Build a Cash Advance App like Moneylion?

To create a cash advance app like Moneylion, follow these steps:

  • Conduct market research.
  • Define your unique value proposition.
  • Secure necessary licenses and compliance.
  • Design a user-friendly interface.
  • Develop robust security features.
  • Implement loan processing and repayment systems.
  • Test thoroughly.
  • Launch the app.


4. Are there Ongoing Operating Costs for a Cash Advance App?

Yes, ongoing operational costs include server hosting, customer support, compliance maintenance, and regular updates to keep the app secure and competitive.