momo was founded in 2018 with the goal of helping people maximize their employee benefits. Michael, our CEO, realized in the course of his work as a financial planner that one of the main reasons people struggle to build wealth is due to the difficulties of saving and investing their money while meeting their day-to-day needs. Simply put, people often struggle to build wealth because they can’t afford to do so. Companies offer their employees a number of benefits that are meant to help employees earn more, but the cost inherent in accessing these benefits is often too much. momo exists to help solve this problem. We target one of the most underutilized employee benefits, Employee Stock Purchase Plans (ESPPs) and make it accessible for anyone who is eligible to participate. ESPPs allow employees to purchase shares of their company’s stock at a steep discount using money set aside from each paycheck. ESPPs therefore offer a tremendous, low-risk opportunity for people to build wealth. Sadly, too many people cannot participate fully in their employer’s ESPP because they cannot afford the missed cash flow by having money set aside every payroll. By not fully participating, employees are leaving money on the table. momo makes it possible for anyone to participate fully in their employer’s ESPP and take full advantage of this valuable benefit.
