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MoCaFi

Fintech delivering cash aid and banking

Overview

MoCaFi is a fintech company serving unbanked and underbanked Americans by partnering with government and philanthropic groups to provide cash assistance, mobile banking, financial education, and credit-building tools. Its core offerings include reloadable prepaid debit cards with no-fee ATM access and financial coaching. Revenue comes from city and brand partnerships and fees for financial services, with services delivered at scale through bulk shipments and lifecycle marketing. Its goal is to expand financial inclusion and create pathways to wealth for underserved communities.

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About MoCaFi

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

Industries

Consumer SoftwareFintechSocial ImpactFinancial Services

Company Size

11-50

Company Stage

Series B

Total Funding

$43.3M

Headquarters

New York City, New York

Founded

2015

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What believers are saying

  • NYC's $53 million Immediate Response Cards pilot showed government demand for MoCaFi workflows.
  • BNY Mellon integration with Vaia expanded access to disaster relief, aid, and payroll.
  • Mastercard collaboration validated MoCaFi's inclusive-payment niche with major-card-network partners.

What critics are saying

  • MoCaFi filed Chapter 7 on March 16, 2026, entering liquidation.
  • CEO Wole Coaxum said losing one major program broke the revenue model.
  • BNY lost Treasury Direct Express to Fifth Third in 2025, destroying MoCaFi's core path.

What makes MoCaFi unique

  • MoCaFi specialized in government benefit disbursement, not consumer banking, through reloadable prepaid cards.
  • Mastercard and BNY Mellon partnerships gave MoCaFi credibility inside regulated payment rails.
  • Its coaching and credit-building tools targeted unbanked Americans, not affluent fintech users.

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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
$45M
$65M
$100M

Benefits

  • Flexible Work Hours

Growth & Insights and Company News

6 month growth

0%

1 year growth

-13%

2 year growth

3%
Mocafi
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.

Mocafi
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.

U.S. 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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