(MEMPHIS, Tenn. – June 1, 2026) As Americans increasingly turn to debt to fund life’s biggest milestones, a Memphis-based fintech startup is launching a new category called CrowdSavings™: a proactive, private, invitation-only approach that helps families and communities save together through small recurring monthly contributions instead of debt or last-minute financial scrambling. This is the opposite of crowdfunding, reactive public funding of a crisis.
A first-of-its-kind CrowdSavings™ platform has launched this month in Memphis, TN, targeting consumers with financial goals for key moments in their lives. The Mo app is a financial empowerment tool that allows consumers to save, invite others to contribute and set goals towards a key financial goal.
“This is not a crowdfunding app, but a CrowdSavings™ app,” said James Shaheen, CEO and founder of Mo. “This app puts the consumer who has a financial goal in charge of inviting family, friends and supporters to help them reach a special funding goal, a ‘moment’ or ‘milestone’ that is important to them.”
The way Mo works is that a consumer downloads the app to start a moment with a financial goal in mind. The goal could be to save for a home, a car, a high school graduation or a dream vacation. The consumer invites members to contribute to that moment. The consumer creates personal video messages and develops a timeline and plan for their special moment, with an end date in mind.
Some families incur major debt and high interest rates for milestone events. A Memphis native, Shaheen decided to have his team develop a low-access, collaborative financial planning tool as a way to support individuals and families who need or want support to reach their financial goals.
“Mo was developed to turn small, monthly contributions into life’s biggest moments,” said Shaheen. “We are launching the app this month and will have a major announcement of an exciting partnership specific to Memphis soon, around the Mo app. Stay tuned.”
Mo is available to download from Google Play and the App Store. To learn more, visit letsmo.com.
Sizzle Reel: https://drive.google.com/file/
About Mo
Mo is an app that allows users to save money by inviting friends and family to contribute towards their financial goals. Built on a new CrowdSaving™ milestone economy where saving is social, progress is shared and every deposit tells a story, Mo is innovating for life’s biggest moments. From weddings to first homes, tuition to new beginnings, Mo helps people save smarter, together. Learn more and create your own moment at LetsMo.com.
For more information or if you would like to interview someone from Mo, contact Jennifer Sharp, The Carter Malone Group, LLC, at 901.278.0881 or jsharp@cmgpr.com.