Black Owned Digital Banking

Black Owned Digital Banking Platform Rewards Users For Supporting Black Businesses

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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by Tony O. Lawson

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