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MoCaFi

MoCaFi Mobility Bank Account and MoCaFi Mobility Debit Mastercard®

Founded 2016 United States New York, United States 57 employees Series B Total: $43.31M Analytics, Financial Services +3

General Information

Company Name MoCaFi
Founded Year 2016
Location United States New York, United States
Founders / Decision Makers
Team member
Employees 57
Industries Analytics, Financial Services, Fintech +2
Funding Stage Series B
Social

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About MoCaFi

MoCaFi is a fintech startup committed to empowering marginalized communities in the United States by providing them with better access to public, private, and social capital. The company offers a turnkey digital banking solution that facilitates the delivery of cash payments, deposit accounts, and wealth empowerment tools at various governmental levels. Founded in 2015, MoCaFi has already made a significant impact by distributing over $100M in guaranteed basic income, cash assistance, and emergency rental and utility payments across several municipalities. With a diverse team of professionals, MoCaFi aims to address America's racial wealth gap. The company's recent Series B investment of $23.50M in May 2023 was led by prominent investors including Commerce Ventures, Wells Fargo & Company, BNY Mellon, Truist Ventures, and Tom Hutton. MoCaFi's unique mission, solid financial backing, and innovative approach to financial services position it as a compelling investment opportunity in the analytics, financial services, fintech, payments, and banking industries. The company's commitment to providing accessible and inclusive financial services aligns with the growing demand for impactful and socially responsible investment opportunities.

To learn more, visit https://hubs.ly/H0fnrbb0

Business keywords: Financial Inclusion, Digital Banking, Wealth Empowerment, Guaranteed Basic Income, Cash Assistance, Emergency Financial Support, FDIC-insured Accounts, Public Sector Partnerships, Private Sector Partnerships, Racial Wealth Gap, Community Banking, Financial Services Platform, Economic Empowerment, Social Capital

Funding Rounds & Investors (7)

View All
Funding Stage Amount Investors Lead Investors Date
Series B $23.50M 5
Commerce Ventures, Truist Ventures +3
31 May 2023
Venture Round $2.51M -
09 Feb 2022
Series A $12.00M 9
Commerce Ventures, Radicle Impact +7
12 Feb 2021
Seed Round $3.50M 7
SustainVC, Radicle Impact +5
05 Feb 2020
Seed Round Undisclosed 1
Newark Ventures
15 Apr 2018
Non Equity Assistance Undisclosed 1
FinTech Sandbox
01 Jan 2017
Angel Round $1.80M 1
Newark Ventures
15 Apr 2016

MoCaFi Alternatives & Competitors

View All Alternatives
MoCaFi vs
Living Cities
Living Cities United States

A collaborative of foundations & financial institutions working to close racial gaps.

Grant
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Financial Services, Fintech
MoCaFi vs
Novo
Novo United States

Building better financial solutions for small business owners.

Debt Financing
442 employees
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MoCaFi vs
Varo Bank
Varo Bank United States

We're on a mission to bring financial inclusion and opportunity to all.

Series G
402 employees
Financial Services, Fintech

FAQ About MoCaFi

MoCaFi Mobility Bank Account and MoCaFi Mobility Debit Mastercard®
MoCaFi was founded in 2016.
MoCaFi is headquartered in New York, United States.
MoCaFi operates in Analytics, Financial Services, Fintech, Payments and Banking. Its work centres on Financial Inclusion, Digital Banking, Wealth Empowerment and Guaranteed Basic Income.
MoCaFi has approximately 57 employees.
MoCaFi has completed 7 funding rounds, raising a total of $43.31M. The latest funding stage is Series B.
Top alternatives and competitors to MoCaFi include Living Cities, Novo, Varo Bank, Carver Federal Savings Bank, First Security Bank and Trust. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
MoCaFi and Living Cities are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for MoCaFi, https://www.bouncewatch.com/company/mocafi, updated 30 December 2024. When citing, please name BounceWatch and link this page.

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