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Black Owned Digital Banking

Black Owned Digital Banking Platform Rewards Users For Supporting Black Businesses

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MoCaFi (Mobility Capital Finance) is a Black-owned digital banking platform that targets more than 50 million unbanked and underbanked people in the U.S.

Today, they have enrolled more than 25,000 users, raised more than $6M in seed rounds, collaborated with Fortune 100 companies, and established a presence in major U.S. cities. 

When you open a MoCaFi account, your account number and routing number are immediately available for direct depositing approved payroll and government benefits checks. You can also use their Bill Pay feature to send check payments to your landlord and opt-in to report those payments to Equifax and TransUnion.

MoCaFi also partners with Black owned businesses to offer account holders discounts on everything from grooming to organic home goods.

We caught up with their CEO, Wole Coaxum, to discuss how he plans to use these financial services to empower the Black community.

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Tony O. Lawson


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2 Comments

  1. It’s so good to have Black Own Banks and Credit Unions. A place where minority people can go and get help and Loans to start businesses or buy homes and other needs. I’m so happy about this because every time I went to get a loan for anything I was always turned down I always had a job no bad credit but I was always turned down because I didn’t have a load of money in the bank if I had a lot of money in the bank I wouldn’t need the loan so I’m so happy to see this. There was even a Time when I had Money in the Bank and we’re trying to buy home I needed a loan and they wouldn’t even give it to me I was so sad but this a happy day in my life to see all the black businesses starting up and I thank the Lord for that

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