Mos launched in 2017 as an edtech platform connecting students to scholarships and has opened access to over $160 billion in financial aid for a community of more than 400,000 students. The company has helped students unlock over $1.5 billion in declared scholarship money and previously generated “a few millions” in ARR from fees for access to its scholarship pool. Mos has pivoted into a challenger bank, issuing a debit card with no overdraft fees, no late fees, no in-network ATM fees and no minimum balance, and it now monetizes primarily through interchange fees. The card saw rapid uptake: Mos says over 100,000 students opened accounts in the first quarter after launch and estimates it is the tenth largest neobank in the U.S. The startup plans to build a suite of paid products for students — including advisor consultations and premium banking features — and intends to grow with users beyond college. Founder Amira Yahyaoui emphasizes a community-first approach and a goal to become the incumbent bank for U.S. students, targeting expansion to millions more users. Mos provides a technology platform that checks over 30,000 eligibility criteria and aggregates access to the government's $135B in annual college financial aid into one application. The product pairs the eligibility-matching engine with a personal financial aid advisor to help students secure as much free funding as possible before taking on loans. Mos has been used by 200,000 students and their families. In response to COVID-19 the company launched a free, regularly updated guide with instructions and templates to help students with housing petitions, appeals, payment deferments, and financial-aid requests. The company was founded by Amira Yahyaoui with a mission to reduce student debt and increase access to government aid. Mos is backed by investors including Sequoia Capital and Arrive. Mos is a tech-enabled platform that helps students apply for and maximize federal and state financial aid using a short survey that matches applicants to more than 500 grant and scholarship programs while completing the FAFSA and state applications. The product charges a one-time fee of $149 and aims to deliver results in about 20 minutes; each case is reviewed by a Mos financial aid advisor who can negotiate with colleges for higher awards. The startup’s mission is to decrease American student debt (noted at nearly $1.6 trillion in 2018) and to digitize antiquated government systems that deter students from applying for aid. Mos plans a full-scale launch this summer and intends to tackle other countries’ college financial aid systems after scaling in the U.S. The company is led by Amira Yahyaoui, a Tunisian human-rights activist and founder of NGO Al Bawsala, who relocated to the Bay Area to build the business.

Total raised

$57M

Funding rounds

3

Latest round

Series B

Latest activity

Feb 2022