Andrew Yang launches Noble Mobile, a $50 unlimited-data MVNO that refunds unused data

Andrew Yang on Tuesday announced the launch of Noble Mobile, a new mobile virtual network operator that will charge $50 a month for unlimited data and return a portion of customers’ payments when they use less data than allotted.

Noble Mobile — backed by a $10.3 million seed round led by Yang, Scott Galloway and Corazon Capital — will pay subscribers as much as $20 a month if they use less than 20 gigabytes of data. Yang, who will serve as the company’s chief executive, said the carrier is designed to lower what he called the "data tax" and to discourage excessive screen time by financially rewarding lighter usage.

Yang likened Noble’s approach to the bulk-buying and markup-cutting model employed by Mark Cuban’s Cost Plus Drugs. "We don’t want to be extracting your attention. We don’t want to be extracting from your wallet," Yang said in an interview. "If we can lighten up what we call the ‘data tax,’ we can get the equivalent of billions of dollars back into people’s hands."

Noble is one of a growing number of MVNOs — carriers that do not own network infrastructure but lease capacity from major operators such as Verizon, AT&T and T-Mobile. By avoiding the costs associated with building and maintaining cellular networks, MVNOs can offer lower-priced plans, a strategy that has attracted celebrity-backed entrants in recent years, including Mint Mobile, whose public profile rose after Ryan Reynolds became a part-owner and pitchman, and other recent launches such as Trump Mobile and SmartLess mobile.

Noble said it has forged partnerships with apps and services including Calm, GetYourGuide and BackMarket to provide promotions and exclusive offers to customers. Subscribers will be able to track monthly savings through an internal dashboard and either redeem the funds at any time or keep them in an account within Noble that carries an advertised annual interest rate of 5.5 percent.

"Think of it as credit card rewards that grow over time, like a loyalty perk," Noble co-founder and president Zach Graumann said. The company also emphasized a consumer-health component, saying its incentive structure aims to reduce compulsive phone use by rewarding people who go offline.

Industry data and consumer surveys underscore the pitch behind Noble’s pricing. Reports from J.D. Power and WhistleOut indicate the average American pays more than $100 a month for phone service, while a 2024 Ericsson report showed the average North American used about 22 gigabytes of mobile data a month — a figure Noble cited when setting its 20-gigabyte refund threshold.

Analysts say the MVNO model has matured as network buildouts have stabilized. Yang noted that in the early 2000s and 2010s, coverage and reliability could vary widely when carriers were still expanding their networks; today, with broad 5G rollout and the major carriers operating at high capacity, he argued, the practical differences in coverage have narrowed.

Noble’s business plan rests on buying data in bulk from network operators, reducing markups and returning savings to customers. The company will face competition from other low-cost carriers and established operators that have pushed promotional pricing in recent years. It will also need to manage wholesale costs, network access agreements and the economics of refunding unused data while maintaining margins.

The $10.3 million seed round will support the carrier’s initial rollout and marketing, Yang said. The company did not disclose the initial markets for launch or a nationwide rollout timetable. Noble also did not provide subscriber targets or longer-term financial projections at the announcement.

The launch adds to a wave of personality- and brand-driven entrants to the U.S. wireless market that leverage celebrity recognition or novel pricing structures to carve out niches. Some, like Mint Mobile, have grown into well-known low-cost alternatives, while others remain small players that rely on targeted marketing and promotions.

Yang framed Noble as part of a broader vision for economic and social policy, saying capitalism can be designed to promote financial and mental health. "I hope people [see that] this ties into a real vision for an economy that works for us," he said.

The company’s next steps will include finalizing network partnerships, onboarding customers and rolling out its rewards and savings features. Observers will watch whether the refund-for-unused-data model resonates with price-conscious consumers and whether Noble can scale while maintaining the advertised interest on held savings and the monthly refund program.