MoCaFi receives funding from Mastercard.

Here’s an excerpt from the Mastercard press release:

The inequities in today’s financial system have left many Americans without access to affordable services, instead relying on payday lending, expensive cash checking services and remittance fees. Mobility Capital Finance (MoCaFi), a financial technology, mobile-first banking platform, and Mastercard are partnering to bring alternate financial services to underserved communities with a specific focus on providing tailored digital tools, and new payment cards to low wealth minority and Black communities. Mastercard has now furthered its commitment with a capital investment in MoCaFi.

Continue reading the full press release on