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Adam Moelis

Co-Founder at Yotta

Adam Moelis is the Co-Founder and CEO of Yotta Savings, a financial technology company he founded in October 2019.148 Yotta aims to help Americans become more financially secure by offering a unique savings platform that combines traditional banking with lottery-like prize drawings.14

Moelis graduated from the Wharton School at the University of Pennsylvania with a Bachelor of Science in Economics, focusing on Finance and Accounting.28 Prior to founding Yotta, he worked at various companies including:

  • YipitData as a Product Manager and Data Product Analyst (2016-2018)8
  • Right Call Consulting as a Developer (2015-2016)8
  • Goldman Sachs in the Special Situations Group (2014-2015)2

Yotta Savings offers FDIC-insured bank accounts that give users the chance to win prizes up to $10 million through weekly drawings.13 The company has raised significant funding, including a $13.2 million Series A round in January 2021.4

Adam Moelis comes from a notable background, being the son of billionaire investment banker Ken Moelis.4 This connection likely contributed to early funding for Yotta, which included investments from hedge fund manager Cliff Asness and Ken Moelis himself.4

Under Moelis's leadership, Yotta has grown to serve over 700,000 members and has expanded its offerings to include various financial products and services.5 The company's innovative approach to savings has garnered attention in the fintech industry, with Moelis appearing on podcasts and in industry publications to discuss Yotta's mission and business model.67

Highlights

Oct 25 · crustdata.com
Yotta Savings - Crustdata Company Profile, Funding and Growth
Adam Moelis Archives - Wharton Magazine
Aug 17 · weekday.works
Adam | Working at - Weekday
Jul 11 · The New York Times
What Happens When Your Bank Isn’t Really a Bank and Your Money Disappears? - The New York Times
What Happens When Your Bank Isn’t Really a Bank and Your Money Disappears? - The New York Times
Jun 24 · reddit.com
Yotta founder and CEO is son of Elite Investment Bank Moelis ...
Jun 21 · en.wikipedia.org
Yotta Savings - Wikipedia
Jun 1 · CNBC
Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like this’ - CNBC
Savings app CEO says 85,000 accounts locked in fintech meltdown: ‘We never imagined a scenario like
Feb 21 · plaid.com
A Q&A with Adam Moelis of Yotta - Plaid
Sep 30 · ycombinator.com
Yotta: Save money and win prizes up to $10m ... - Y Combinator
Jan 1 · signal.nfx.com
Adam Moelis' Investing Profile - Angel | Signal

Related Questions

How did Adam Moelis come up with the idea for Yotta Savings?
What are Adam Moelis's main responsibilities at Yotta Savings?
How has Yotta Savings impacted financial stability in the U.S?
What other ventures has Adam Moelis been involved in?
How does Yotta Savings' lottery system work?
Adam Moelis
Adam Moelis, photo 1
Adam Moelis, photo 2
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Location

New York, New York, United States