Tiger Global led the financing round for the $40 million valuation of Mos, a fintech business, with participation from Sequoia, Khaled Helioui, Expa, Emerson Collective, and Lux Capital.
Our goal is to completely eliminate monetary limitations on access to opportunities. From the very beginning, Mos’s main goal has been to ensure that everyone has equal access to a brighter and better future.
Mos 40m Series Tiger Global 400m
According to CEO and creator Amira Yahyaoui’s blog post, “that focus is what prompted us to tackle the first largest financial obstacle in the lives of numerous young adults across America and the world – paying for an education.”
Founded in 2017 with headquarters in Silicon Valley, the company has disbursed more than $160 billion in help to more than 400,000 students. Scholarship grants totaled over $1.5 billion last year.
Original Focus on Financial Help
Now offering banking services to students, the organisation has expanded beyond its original focus on financial help, which launched in September. With this system, there are no overdraft fees, late fees, or required minimum balances, and the introduction of a debit card was also a welcome addition.
By the end of December, Mos had become the third most downloaded app overall and the market leader in the financial app category, with its user base having increased by a factor of 14. According to the blog post, it’s the first time a FinTech app has ranked in the top three most downloaded apps of all time.
According to Most CEO Yahyaoui, the company has “added millions of dollars in scholarships to our platform, introduced new financial education content for millions of students on TikTok, and established vast internal tools and knowledge to best serve our Mosters.”
Last Words
The company plans to use the infusion of funds to expand its workforce so that it can fulfil its aim of making banking accessible to millennials and Gen Zers. The company’s other stated goal is to create even more efficient products that are tailored to the wishes of their clientele.
With Mos’ services now available to students just entering the workforce, “we are focused on ensuring a brighter financial future for every student,” Yahyaoui added. Thanks for reading our article Mos 40m Series Tiger Global 400m.
