Founded in 2017, Mode Mobile is a tech company that aims to turn ordinary smartphones into what it calls “earnphones” by rewarding users with points for everyday mobile activities. Users can earn these points through the company's Mode Earn App on existing devices or by purchasing a special Mode EarnPhone with built-in earnings features.
Users can earn points from listening to music, playing games, watching videos, reading the news, shopping online, and completing tasks. They can then exchange points for various rewards like gift cards, PayPal (PYPL -2.44%) cash, or physical products.
The company's revenue strategy is multipronged. Mode Mobile sells advertising space on its devices and apps to brands, which then pay a portion of that revenue to Mode Mobile users for their engagement. Other revenue streams include direct-to-consumer sales of its specialized smartphones, its Mode Earn Club subscription service, licensing its operating system to carriers, and strategic partnerships in the Web3 and cryptocurrency space.
Here’s what investors need to know about whether Mode Mobile is publicly traded, how to invest in the company, and more.
IPO
Is Mode Mobile publicly traded?
No, Mode Mobile is not currently publicly traded, but management plans to eventually pursue an initial public offering (IPO). However, in 2023 and 2024, the company offered shares through Regulation Crowdfunding (CF) offerings, which allow private companies to raise capital by selling securities to the general public through online platforms without full Securities and Exchange Commission (SEC) registration.
Mode Mobile has also completed a Regulation A offering. These offerings are commonly known as mini-IPOs because they allow companies to raise money from both accredited and non-accredited investors through two levels of offerings. Tier 1 allows companies to raise up to $20 million in a 12-month period, while Tier 2 allows companies to raise up to $75 million in that time frame.
Mode Mobile's Regulation A offering raised over $45 million from thousands of individual investors. The company offered bonus shares to encourage larger investments during the offering. It sold securities through DealMaker Securities LLC, a regulated intermediary platform for private placements and crowdfunding. Mode Mobile also offered a limited number of shares of Class AAA Common Stock for free to Earn App users.
When will Mode Mobile IPO?
While the company hasn't set an exact date for its public stock market debut, Mode Mobile has officially reserved the ticker symbol $MODE on the Nasdaq. This is a common preparatory step companies take ahead of an IPO.
How to buy Mode Mobile stock
Mode Mobile has used both Regulation CF and Regulation A offerings to raise capital and allow both accredited and non-accredited investors to purchase shares. That said, you can't buy traditional public stock of Mode Mobile on an exchange using a brokerage account as of late 2025. However, management has indicated that Mode Mobile will eventually become a public company.
Mode Mobile doesn't have many direct competitors that are publicly traded, but it's technically a fintech player. There are plenty of intriguing companies in this industry broadly that could intrigue retail investors. Here are some publicly traded alternatives to Mode Mobile to consider.
1. PayPal
PayPal is one of the most well-known fintech companies around and is known for its online payment system that allows users to send and receive money digitally across the globe. Founded in 1998, PayPal acts as a secure intermediary between buyers and sellers around the world to protect users' financial information by not sharing their bank account or credit card numbers directly with merchants.
Over the years, PayPal has expanded beyond peer-to-peer payments to offer a wide range of financial services for both consumers and merchants. These include Venmo, buy now, pay later services, business tools like invoicing and inventory management, and cryptocurrency solutions.
2. SoFi Technologies
SoFi Technologies (SOFI -6.05%) offers a wide range of financial products, including loans, bank accounts, and investment services. Providing a complete suite of financial products in a single app has helped the company attract and retain customers over time.
SoFi started with student loan refinancing, but has expanded to become a major online lender for personal and home loans. The company offers competitive interest rates on its no-fee combined checking and savings accounts. As a chartered bank, its accounts are FDIC-insured. SoFi also provides a cloud-based tech platform that powers digital banking and payment services for other financial institutions and fintech companies.
3. Nu Holdings
Nu Holdings (NU -0.12%) is the holding company for Nubank, one of the world's largest and fastest-growing digital financial services platforms. The company is primarily known for offering a suite of app-based financial services without the high costs and physical branches of traditional banks. As a leading digital bank in Latin America, Nu Holdings boasts millions of customers and has a prominent fintech presence in Brazil, Mexico, and Colombia.
Its products include credit cards, digital accounts, personal and business loans, investment and crypto trading, insurance products, and more. Nu has simplified banking for millions who were previously unbanked or underserved by traditional institutions. Its lack of a physical branch network gives Nu a significantly lower cost-to-serve per customer, allowing it to offer low-fee or no-fee products while remaining profitable.
Steps for investing
If you want to buy shares of any publicly traded stock, here are the steps you need to take.
- Step 1: Open your brokerage account: Log in to your brokerage account where you handle your investments.
- Step 2: Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
- Step 3: Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
- Step 4: Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
- Step 5: Submit your order: Confirm the details and submit your buy order.
- Step 6: Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.
Is Mode Mobile profitable?
Mode Mobile is not yet profitable. The company delivered a net loss of $3.3 million in 2024. The company is still generating revenue on a scale that is significantly smaller than many other fintech companies. Mode Mobile says its company’s revenue grew by 32,481% between 2019 and 2022. However, it generated just $75 million in revenue between 2020 and 2024.
Should I invest in Mode Mobile?
Investing in any company that's not yet publicly traded on a major exchange, including Mode Mobile, is a highly speculative, illiquid endeavor. Investment opportunities for Mode Mobile have primarily been through Regulation A and Regulation CF offerings, which differ significantly from buying stock on the open market. Buying stock in more established fintech players is likely a safer option for most investors.
Related investing topics
The bottom line on Mode Mobile
Investors can't buy shares of Mode Mobile on a stock exchange, like the Nasdaq, as of late 2025. The company has raised capital through various forms of crowdfunding, but this may not be a sound investment option for retail investors looking to build a diversified, profitable portfolio of established companies.
If you want to invest in the fintech space or an adjacent area, such as communications stocks, the good news is that there are plenty of profitable and public stocks to consider putting your hard-earned capital into.
FAQ
About the Author
Rachel Warren has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal. The Motley Fool recommends Nu Holdings and recommends the following options: long January 2027 $42.50 calls on PayPal and short December 2025 $75 calls on PayPal. The Motley Fool has a disclosure policy.
