Memphis startup redefining crowdfunding as ‘crowd-saving’
Users link a debit card to their Mo account, which is how the money gets transferred. (Courtesy Mo Crowdsaving)
A Memphis-based financial-technology startup aims to redefine crowdfunding into “crowd-saving” with a new free app called Mo.
The app, founded by James “J.T.” Shaheen, 36, enables users to contribute money to goals like a down payment on a house, a car or any other milestone in someone’s life.
Common crowdfunding resources like GoFundMe are reactionary, Shaheen said, and tend to go toward things like medical bills, but Mo is all about being proactive.
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Noah McLane
Noah McLane reports on business for The Daily Memphian. He was born and raised in Tennessee and attended journalism school at Middle Tennessee State University, where his passion for community-focused storytelling began.
Prior to writing for the business section, Noah was the editor-in-chief of his college newspaper, worked on general assignment for the Jackson Hole News & Guide in Jackson, Wyoming, and was most recently the statehouse contractor for The Daily Memphian.
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