AFFA 101: Dr. Robert L. Johnson, M.D., Dean of Rutgers NJ Medical School

And Finance for All
Episode 001


4/10/20 - Join MoCaFi’s Wole Coaxum, Manyell-Akinfe Reed, and Steve Royster for this episode of And Finance For All, as they discuss various ways in which we are all attempting to cope with life during the Coronavirus pandemic; Manyell provides key tips for how we can manage our money during a time of crisis; and Wole hosts Robert Johnson, MD, The Sharon and Joseph L. Muscarelle Endowed Dean, Professor of Pediatrics and Director of the Division of Adolescent and Young Adult Medicine at Rutgers New Jersey Medical School. Dr. Johnson provides unique insight on COVID-19’s disparate impact on communities of color.


Weekend Agenda 006

The Weekend Agenda - 006


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 4/24/20 -


PLAY THIS: 006 - Golden Era Playlist


From D-Nice's Club Quarantine to the Verzuz beat battles, hip-hop has been breaking the internet just to hold us down as the COVID-19 iso continues. We just want to salute the OG's with a Golden Era playlist for this weekend's agenda.

SpotifyApple MusicGoogle Play

READ THIS: Without Capital, Inequality Is Locked In


The extent of our dramatic inequality is at least as much a problem of politics as it is a problem of economics.

READ THIS

TRY THIS:The 7 Best Personal Finance Apps


Budgeting your money may be one of the least enjoyable things ever. And let’s be honest: most of us are much better at spending than we are at saving. Nonetheless, it’s still important; after all, it’s not often you hear someone say, “Darn, I budgeted too well this month,” or, “I wish I hadn’t saved so much money.”

TRY THIS

BUY THIS: Mucus Cleanse


This is one Upful combination of high vibrational herbs to serve the body in healing and remembrance through the blood, respiratory system, and nervous system.

BUY THIS

DO THIS: Stay Home - Socially - Distanced Activity Sheet


San Francisco-based designer and owner of his eponymous skate and streetwear brand-meets-boutique Benny Gold has created a “Stay Home” activity sheet for all ages to get involved with.

DO THIS

DOWNLOAD THIS: What To Cook - Recipe Finder


Save a trip to the grocery store and find new recipes using ingredients you have on hand.

DOWNLOAD THIS

Weekend Agenda 005

The Weekend Agenda - 005


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 4/17/20 -


PLAY THIS: 005 - Lovers Rock


These days and times are crazy. Let's love on the one we're with just a little closer this weekend.

SpotifyApple MusicGoogle Play

WATCH THIS: How Chefs Are Responding to Coronavirus


Vice asked chefs and restaurateurs how their business is being impacted by COVID-19. In their own words, chefs across the country speak about closing their restaurants, laying off their staff, and their hopes for the future of the hospitality industry after the coronavirus pandemic.

READ THIS

BUY THIS: Really nice cards,
mailed for you.


Snail mail becomes more special, more surprising and more meaningful every year. And that's because it becomes more and more of a pain in the ass to send.

BUY THIS

READ THIS: 9 Signs That You're An Ambivert


I’m sure you’ve been asked many times whether you’re an introvert or an extrovert. For some people, it’s an easy choice, but for most of us, it’s difficult to choose one way or the other.

READ THIS

READ THIS: Instagram Live Streams Can Now Be Viewed on the Web


After rolling out access to Direct messages via the web last week, Instagram is now also giving users the option to view Instagram Live broadcasts on desktop PCs, which comes with a new, less intrusive format, and URLs to cross-promote your streams.

READ THIS

DO THIS: Quarantine Control: Manage Your Day With A Routine


These elongated hours of obscureness can be flipped into an opportune time of reflection and challenge of workload efficiency. With all this time, ask yourself, what shall I truly do with it? There’s only so much mindless phone scrolling one can do until things like carpal tunnel or some sort of visual impairment coming knocking.

LEARN THIS

Weekend Agenda 004

The Weekend Agenda - 004


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 4/10/20 -


PLAY THIS: 004 - Walking Into Sunshine


Music can take us out of the darkest moments by transforming the most powerful energy we have — our spirit. We're using that energy to walk into a better day, one step at a time. Peep the classic vibes on this one.

SpotifyApple MusicGoogle Play

READ THIS: Business Brilliant: Surprising Lessons from the Greatest Self-Made Business Icons


In Business Brilliant, Lewis Schiff combines compelling storytelling with ground-breaking research to show the rest of us what America’s self-made rich already know: It’s synergy, not serendipity that produces success.

READ THIS

READ THIS: Bill Withers' Legacy Is So Much Deeper Than The Hits We All Know


A Soul Singer Who Eschewed The Hit Machine For Emotional Truth

READ THIS

DO THIS: COVID-19 Business
Resource Center


Updated daily, with real-world funding, resources, and support for small business owners adapting to the impacts of coronavirus.

DO THIS

DO THIS: RBG FIT CLUB 7 MINUTE WORKOUT


The 7 Minute workout is a series of exercises that use your own body weight, so that you get a quick full body workout in just 7 minutes.

DO THIS

BUY THIS: Everybody Vs Covid-19


ETROIT VS EVERYBODY is our rallying slogan to never give up in the face of adversity and to lift others as you lift yourself through the challenges life throws at you.

The slogan WE created was inspired by DETROIT in 2012 when it appeared to be in its bleakest moment and point of no-return. The challenges facing the city brought out the best and the worst in people.

Likewise the coronavirus is bringing out the best and worst in people. On one hand we have tireless work by government agencies, foundations, researchers out to solve a problem while neighbors unselfishly help neighbors. On the other hand, we see hoarding, doomsayers, and political finger pointing.

We are producing Everybody VS COVID-19 to remind us that its Everybody against the virus; rather than Everybody against each other. A portion of the proceeds will be donated to the Detroit Small Business Stabilization Fund.

BUY THIS

WATCH THIS: RZA vs DJ Premier


Verzuz is doing it again with another legendary producer battle. This time, Swizz Beats and Timbaland locked in RZA to go head to head with DJ Premier.

WATCH THIS

Weekend Agenda 003

The Weekend Agenda - 003


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down,
you’ll need to know what’s happening around you.
Enjoy and stay up!
- 4/03/20 -


PLAY THIS: 003 - Work from home


Corona has transformed our living rooms, kitchens, and bedrooms into multi-functional workspaces for the foreseeable future. Let these tracks create a vibe for working and playing all day & night.

READ THIS: The Four Rules of Pandemic Economics


A playbook that should govern America’s short-term reaction to the health crisis.

READ THIS

BUY THIS: #HoNFaceMask Sets


Handmade Cultural Décor & Accessories

BUY THIS

LISTEN TO THIS: Full Time CEO -
The $H!T They Dont Tell You


By: Will Roundtree
Narrated by: Othello Lofton
Length: 3 hrs and 50 mins
Categories: Business, Commerce & Economy

LISTEN TO THIS

READ THIS: If I Wrote a Coronavirus Episode


Tina Fey, Mike Schur, and 35 more TV writers on what their characters would do in a pandemic.

READ THIS

READ THIS: Go grocery shopping every two weeks?


You can — and without hoarding.

READ THIS

Weekend Agenda 002

The Weekend Agenda - 002


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down, you’ll need to know what’s happening around you.
Enjoy and stay up!
- 3/27/20 -


PLAY THIS: 002 - Mocafi Playlist Series 'Places & Spaces'


This time of self-isolation and sheltering in place has us thinking of spaces, places and moods that we have taken for granted, may appreciate even more today, and want to return to as soon as we can. Listen safely, alone together.

MAKE THIS: Pineapple Ginger and Basil Smoothie!


"I can't live without pineapple, ginger or basil. I am constantly cooking with them. So I figured why not make them into a smoothie. This combo is my new favorite. It's bright and refreshing but not overpowering. If you love pineapple, ginger and basil you will absolutely love this one. The combination of the sweet pineapple with the crisp bite of ginger is divine, the basil gives it a perfect balance and rounds out the flavor"

MAKE THIS

USE THIS: This App Applies Every Promo Code On The Internet To Your Cart – And It's Awesome


These days, all our purchases are pretty much made online. Why put on shoes and go down to the store when you could just buy what you need from the comfort of your couch (and more importantly, 5 feet away from the fridge)? No lines, no crowds, no hassle. If you can relate, you're going to love this shopping hack— it'll get you the best deals online and save your hard-earned cash.

USE THIS

READ THIS: How To Get Rid Of The Thoughts That Are Clogging Your Brain


Thinking is a tool that can be overused. But by recognizing this, you can start focusing on what is really worth your thoughts.

READ THIS

DO THIS: Take a virtual trip to the zoo..


Polar Bears Ouwehand Waterfall

DO THIS

TRY THIS: Party from home


What’s happening live at a laptop near you! Finding community in social distancing.

TRY THIS

Weekend Agenda 001

The Weekend Agenda - 001


So you want to Spend Smart, Build Credit, and Do You? We’ve got you covered. You follow us on social and everyday you digest spending tips, financial insight, and credit advice. Over the weekend, take a little time and get into what we’ve lined up for you. From the screens of the MoCaFi team, we’ll be sharing content from across the web that matters. Because to start a business, level up, build generational wealth, or to just be ten toes down, you’ll need to know what’s happening around you.
Enjoy and stay up!
- 3/20/20 -


PLAY THIS: 001 - Mocafi Playlist Series 'Master Teachers'


In honor of Women’s History Month, turn up the volume and listen to these Master Teachers get into the full experience of Black Women in America. From Solange’s Almeda to Koffee’s Toast, you’ll definitely be able to relate.

DOWNLOAD THIS: Lebron James and Calm Meditation App Partner to Promote Mental Health


Mental health is an important part of everyone’s life but getting help can seem untouchable sometimes. In recent news, Los Angeles Lakers’ star NBA basketball player, LeBron James, has joined up with the Calm app to show athletes and the rest of the world that there is a way to find “the Calm for your storm” as the move to promote mental health awareness to the masses is underway.

TRY THIS

WATCH THIS: Mitchell S. Jackson Breaks Down The Inspiration Behind New Book 'Survival Math'


Author Mitchell S. Jackson sits down with Ebro in the Morning to discuss his brand new book 'Survival Math' which is his second book.

WATCH THIS

READ THIS: Why All the Warby Parker Clones Are Now Imploding


How venture capital became the most dangerous thing to happen to now-troubled DTCs like Outdoor Voices, Harry’s, and Casper

READ THIS

LISTEN TO THIS: Stop Doing What Customers Hate!


It's a simple philosophy. But what does it take to actually achieve? We talk to Jesse Cole, owner of the baseball team Savannah Bananas, about the idea that transformed his business—and how it can work in any industry.

LISTEN TO THIS

DO THIS: Yoga for Uncertain Times


This collection of practices was assembled to support you in times of uncertainty. May this collection serve to remind you that you are not alone, to support you through unknown times, and to help you find peace through your home practice.

DO THIS

MoCaFi Raises $3.5M In Seed Round As They Advance Efforts To Address The Wealth Gap

FOR IMMEDIATE RELEASE

CONTACT

Marjorie Fields Harris

Marjorie@mocafi.com

+ 1 919 480 6383

MoCaFi RAISES $3.5M IN SEED ROUND AS THEY ADVANCE EFFORTS TO ADDRESS THE WEALTH GAP

Radicle Impact Partners leads Series Seed round for the mobile banking platform which provides innovative financial tools that foster economic mobility in underbanked communities

 

NEWARK, NJ – February 5, 2020 - Mobility Capital Finance [“MoCaFi”], a financial technology, mobile-first banking platform that is committed to bringing financially underserved communities in the United States into the digital banking economy has closed $3.5 million in a Series Seed funding round. 

The Series Seed round was led by Radicle Impact Partners with other institutional investors including Newark Venture Partners (NVP), Partnership Fund for New York City, Social Venture Circle of Philadelphia, SustainVC, WinWin, Portfolia, and Capital Access Holdings. Several family offices participated as well. Winston & Strawn served as Company counsel.

 

“MoCaFi delivers high quality, appropriately priced products and services to communities across the country,” said founder Wole Coaxum, an African American former Wall Street and insurance industry executive. “Financially vulnerable people, especially communities of color deserve the opportunity to bank smart and build their credit. The funding that we have received will be utilized to focus on expanding opportunities for traditionally underserved communities, bringing more people into the financial mainstream – lowering their cost to borrow, increasing their access to quality products and services, and providing a resource in the journey of creating wealth.”

 

MoCaFi — based in Harlem (NY) and Newark (NJ) -- is addressing a market failure that exists in the United States where far too many people rely on expensive products to handle their banking needs.   It seeks to disrupt the estimated $196 billion alternative financial services market, which includes payday lenders, car title lenders, and check cashing services by leveraging innovative mobile strategies, financial literacy, analytics tools, and digital user acquisition strategies. 

 

MoCaFi’s mobile banking platform has partnered with St. Paul-based Sunrise Banks to offer its customers affordable FDIC-insured bank accounts, works with Mastercard to provide cards to the financially underserved and collaborates closely with Equifax to empower its customers to build their credit using their rent payments as a key component of their credit score. MoCaFi also has a marketing partnership with Facebook.

 

"We are honored to support MoCaFi's mission of building a more economically just society where all people have access to safe and beneficial financial services,” said Kat Taylor, Co-Founder and General Partner of Radicle Impact. “MoCaFi is particularly focused on Black and Brown communities who have historically been excluded from wealth creation and who continue to experience harm from predatory financial practices. MoCaFi provides the first step to economic mobility and prosperity for its customers and will be a critical tool in addressing our nation’s severe racial wealth gap.”

 

A key part of MoCaFi’s business model is to create a framework that addresses limited economic mobility and lack of financial equity in Black and Hispanic communities across the United States.  The FDIC estimates that over 50 percent of Black and Hispanic households are either unbanked or underbanked. According to a study by Prosperity Now and the Institute for Policy Studies, the median wealth for Black and Latino families in this country will be zero in the coming decades if present trends continue.

 

Dan Borok, Managing Partner of Newark Venture Partners, stated, “MoCaFi is bringing financial access and opportunity to underbanked communities by meeting them exactly where they are. Wole and his team built this mobile platform with the belief that everyone should have the opportunity to earn, save and build wealth - and their innovative work reinventing the way credit scores are calculated in these communities show they are exactly the right team for the job. MoCaFi's differentiated offering for the large and growing underbanked market represents a big opportunity and NVP and our community of corporate partners are excited to help them succeed." 

MoCaFi completed NVP Labs, Newark Venture Partners’ 12-week bridge-to-seed accelerator program that gets startup to scale.  The program included capital investment, execution support on sales and marketing, and access to a fulltime growth team as well as mentors and corporate partners.

 

“MoCaFi is tackling key barriers to economic mobility and helping the unbanked and underbanked build a solid financial future. Building a robust fintech sector in New York City is one of our top priorities,” said Maria Gotsch, President and CEO of the Partnership Fund for New York City. “We are happy to support a company focused on giving all New Yorkers access to the digital economy.”

 

“MoCaFi’s focus on improving financial mobility and helping the underbanked across the United States build a more secure future aligns perfectly with the thesis of our Rising America Fund,” added Trish Costello, CEO of Portfolia. “Successfully addressing this huge unmet need holds the potential for significant venture level returns. Wole and his leadership team are truly driving change in Black and Latinx communities underserved by the current financial system, and we are proud to be an investor.”

1 2017 FDIC National Survey of Unbanked and Underbanked Households. 

2 The Road to Zero Wealth: How the racial wealth divide is hollowing out America’s Middle Class, September 2017, Institute for Policy Studies & Prosperity Now.


 

About Mobility Capital Finance [“MoCaFi”] 

MoCaFi helps communities to achieve economic equality through affordable, credit-building financial products. Their products enable MoCaFi members to perform essential banking services at affordable rates and empower customers to move from financial vulnerability to stability to prosperity through the convenience and security of their smartphone. MoCaFi is focused exclusively on transitioning marginalized communities from unbanked and underbanked to living financially stable lives. Watch founder/CEO Wole Coaxum discuss the MoCaFi platform on WABC TV's Here and Now with host Sandra Bookman. 

 

About Radicle Impact 

Radicle Impact is an investment fund that partners with exceptional people to build businesses where financial success creates meaningful social change. Radicle Impact supports technology-enabled businesses that have the potential to transform three critical systems: energy, food and financial services.

 

About Sunrise Banks

 

Sunrise Banks, N.A., based in St. Paul, Minnesota, seeks to radically change the way urban communities and underserved people thrive by empowering them to achieve their aspirations. Sunrise is certified by the U.S. Treasury as a Community Development Financial Institution (CDFI), a designation earned by approximately 100 banks nationwide. Sunrise Banks is also a member of the Global Alliance for Banking on Values and is a certified B Corp for its demonstrated commitment to transparent corporate governance and positive community impact. Learn more at sunrisebanks.com. Sunrise Banks is Member FDIC and an equal housing lender.

 

For more information, please visit MoCaFi.com.