MoCaFi

MoCaFi

Fintech delivering cash aid and banking

Overview

MoCaFi is a fintech firm serving unbanked and underbanked Americans by partnering with government and philanthropic organizations to deliver cash assistance, mobile banking, financial education, and credit-building tools. Its core products include reloadable prepaid debit cards with no-fee ATM access, plus financial coaching and credit-building features. It distributes services at scale through partnerships and bulk shipments to drive adoption, with revenue from city and brand partnerships and fees for financial products and services. Its goal is to foster financial inclusion and create pathways to wealth for people outside or at the edge of traditional banking.

Significant Headcount Growth

About MoCaFi

Simplify's Rating
Why MoCaFi is rated
D-
Rated D- on Competitive Edge
Rated D- on Growth Potential
Rated D- on Differentiation

Industries

Consumer Software

Fintech

Social Impact

Financial Services

Company Size

11-50

Company Stage

Series B

Total Funding

$43.3M

Headquarters

New York City, New York

Founded

2015

Simplify Jobs

Simplify's Take

What believers are saying

  • Series B raised $23.5M in May 2023 from BNY Mellon and Wells Fargo for expansion.
  • Distributed over $20M emergency aid in Birmingham and Los Angeles via government deals.
  • Mastercard collaboration advances financial inclusion for Black Americans' wealth gap.

What critics are saying

  • Chapter 7 bankruptcy filed liquidates MoCaFi after losing major revenue program.
  • NYC $53M immigrant debit card program backlash halts government contracts immediately.
  • Chime captures 25% more users with superior no-fee banking in 12-18 months.

What makes MoCaFi unique

  • MoCaFi provides reloadable prepaid debit cards with no-fee ATM access for unbanked Americans.
  • MoCaFi partners with governments for bulk cash assistance like NYC's $53 million immigrant pilot.
  • MoCaFi integrates with BNY Mellon's Vaia for disaster relief and payroll payments.

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Funding

Total Funding

$43.3M

Below

Industry Average

Funded Over

5 Rounds

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.
Series B Funding Comparison
Below Average

Industry standards

$35M
$30M
Patreon
$45M
Linktree
$65M
Substack
$100M
ClickUp

Benefits

Flexible Work Hours

Growth & Insights and Company News

Headcount

6 month growth

-11%

1 year growth

6%

2 year growth

3%
Your Company Name Here
Oct 16th, 2025
Building Stronger Blocks with Citi & Project Access

Building stronger blocks with Citi & Project Access. A day of credit building, school prep, and community celebration in San Francisco. At On Its Block(R), Mobility Capital Finance, Inc. believe financial empowerment and community celebration go hand in hand. That vision came to life at Five88 in San Francisco, where Mobility Capital Finance, Inc. partnered with Citi's Affordable Housing Resident Initiative and Project Access to host an "On Our Block" Activation and Back-to-School Resource Fair. The day brought together residents, families, and partners to learn, connect, and celebrate. Together, Mobility Capital Finance, Inc. explored how programs like RentTrack+ help residents turn on-time rent payments into a pathway to stronger credit, while also gaining access to tools and resources that support long-term financial growth. Highlights included a Credit 101 workshop led by Citi, backpack and school supply giveaways from Citi's Women Inclusion Network, and a family movie night hosted by Xfinity. Kids left with new supplies for the school year, while parents walked away with practical knowledge and confidence to strengthen their financial future. Events like this remind Mobility Capital Finance, Inc. what's possible when community, corporate partners, and mission-driven organizations work together. A big thank you to Citi, Project Access, Xfinity, and every partner who showed up to make the day meaningful. At On Its Block(R), Mobility Capital Finance, Inc. is committed to building stronger financial futures - one block, one family, at a time. Interested in learning about AHRI? Read more here.

Your Company Name Here
Nov 18th, 2024
MoCaFi Receives Two Innovation In Digital Banking Awards

Mobility Capital Finance (MoCaFi) is honored to be the recipient of two Innovation in Digital Banking Awards for 2024 from The Banker.

Securities and Exchange Commission
May 31st, 2024
SEC FORM D

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.

American Military News
Feb 5th, 2024
NYC giving $53 million to illegal immigrants in pre-paid debit cards

"MoCaFi will launch and pilot the Immediate Response Cards by first supporting families with children in HPD's care who are staying in hotels," city records state.

Fair360
Jun 22nd, 2023
How Mastercard is Creating an Inclusive Landscape Through Opportunities in the Digital Economy

Mastercard also collaborates with MoCaFi Bank to deliver digital services to close the racial wealth gap and advance financial inclusion for Black Americans.

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