According to the original complaint filed in October 2020, Facebook parent company Meta settled a lawsuit in the United States against two companies that engaged in data scraping operations.

Which saw them gathering data from Facebook and Instagram users for marketing intelligence purposes. BrandTotal Ltd.

Student Banking App Mos Lands $40m in Series B Raise

Based in Israel, and Unimania Inc., based in Delaware, settled the case by agreeing to a permanent injunction that prevents them from scraping data.

From Facebook and Instagram in the future or making any money off of the data they collected.

In addition, Meta claims, they agreed to pay a “significant financial sum” as part of the settlement.

The amount of the settlement was not disclosed by Meta, and it was not detailed in the court documents.

BrandTotal, at least according to its website, provided a competitive intelligence platform that provided media, insights.

And analytics teams with real-time insights into the social media strategy and paid campaigns of their rivals.

Student Banking Solution Mos Has Raised $40m from a Series B Funding Round Headed by Tiger Global

Lux Capital, Expa, Emerson Collective, Sequoia, and Khaled Helioui all participated in the round as existing investors. Mos is now worth $400m after the funding round.

Mos, which launched in 2017, says it’s trying to remove monetary constraints from people’s lives.

The company boasts that it has developed the first banking product whose primary goal is not the management of student debt but its complete eradication.

This funding round follows a successful 2021 for Mos, the company said.

The company’s financial aid platform was expanded, and it now offers more scholarships than any other organisation in the United States combined.

Mos released its banking solution in September and claims its user base increased by 14x in just three months, propelling it to the third most downloaded app in the App Store.

The company has also developed internal tools to better assist its customers and released new financial education content on TikTok aimed at students.

The company has stated that the Series B funding round is “an opportunity to continue the pursuit of this mission and push the envelope of finance for an entire generation.” w

With the additional goal of recruiting “world-class” individuals to join the Mos team.

Conclusion

Mos, a fintech startup, has just raised $40 million at a $400 million valuation.

With Tiger Global as the lead investor and Sequoia, Khaled Helioui, Expa, Emerson Collective, and Lux Capital also contributing.

Founded in Silicon Valley in 2017, the company has provided over $160 billion in aid to more than 400,000 students. Over $1.5 billion in scholarships were given out last year. Thanks for reading our article Student Banking App Mos Lands $40m in Series B Raise.