MoCaFi was featured on, in an article titled Black Company Aims to Offer Mobile Banking Services to 100,000 People By Next Year.

Here’s an excerpt from the article:

After helping raise a fresh $12 million round of financing, Wole Coaxum is equipped to grow his business to offer mobile banking services more vigorously to scores of Black Americans.

His company, Mobility Capital Finance Inc. (known as MoCaFi), is a fintech startup and app geared to help close the inequality in the nation’s wealth gap. Its mission includes assisting people to obtain low-cost services, build credit, and help financially underserved communities gain access to capital.

MoCaFi aims to achieve that by offering a debit Mastercard, mobile check deposits, free bill pay, and other services. Coaxum says the services are needed as African Americans and Hispanics spend 50% to 100% more on monthly basic banking services than other racial groups, costing them $40,000 in excess fees over a lifetime.

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