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Source: Mos
The last year at Mos has been a whirlwind marked by many milestones and memories for life.
Today, I am thrilled to announce that Mos has raised a $40M Series B at a $400M valuation, led by Tiger Global and joined by returning investors Sequoia, Khaled Helioui, Expa, Emerson Collective, and Lux Capital.
2021 marked the most rapid and momentous year in Mos’ history yet. We made a big decision to move beyond our financial aid services to serve our students’ banking and other financial needs. We grew our financial aid platform into the biggest scholarship pool in America. And we hired an incredible, world-class team of Jedis who, with no surprise, rose to the occasion time and time again as we crossed many milestones.
The team launched our banking solution in September, after building at a record pace for 6 months. We saw our user base grow 14x in just three months, and reached number 3 in the App Store overall—the first fintech app to crack the top 3—and number 1 in all finance apps. We added millions of dollars in scholarships to our platform, launched new financial education content for millions of students on TikTok, and built extensive internal tools and knowledge to best serve our Mosters.
I believe a startup has several founding moments—and this milestone is one of ours. Our mission is to tear down all financial barriers to opportunity. Since the beginning, Mos has been focused on making a better and brighter future accessible to all. That focus is what brought us to tackle the first biggest financial challenge in the lives of countless young adults across America and the world—paying for an education. It is also what drove us to continue solving problems for the formative years of one’s financial personhood, by building a banking product truly focused on the customer’s best interests. And it is ultimately what drives us to grow with our customers, beyond the first years of adulthood, to help them tackle every financial challenge that comes their way in their quest to achieve the life they desire. Tearing down all financial barriers is not hyperbole—we do intend to meet our Mosters at every step of their financial journey, and we have absolute confidence that we will win by doing right by the people we serve.
Our Series B is an opportunity to continue the pursuit of this mission and push the envelope of finance for an entire generation. The purpose of this round is, first and foremost, for us to bring world-class people onto the Mos team. Our lean team has achieved incredible things over the last few years, and we’re excited to bring on many new colleagues as we head towards a new chapter on Mos’ journey, defined by a focus in two key areas:
Make every student a Moster. We are focused on enabling a brighter financial future for every student by bringing Mos’ services to all those just starting off in financial adulthood.
Build better and faster products to meet our customer’s needs. Mos has always taken a first-principles approach to building product, resulting in altogether new financial services like our financial aid tools. We will continue to build new products to solve for the challenges of those taking their first financial steps.
Financial Services
