MoCaFi is a financial technology company, not a bank, dedicated to promoting economic mobility and closing the racial wealth gap for underserved communities. Founded by Wole Coaxum, a former JPMorgan Chase executive, the company offers the MoCaFi Mobility Bank Account, provided through Sunrise Banks N.A., Member FDIC. This account includes a Mastercard debit card with no monthly fees or overdraft fees, along with features for bill pay, cash deposits, and credit-building through rent reporting to major credit bureaus. Their mission is to provide a viable alternative to high-cost check-cashing services and payday lenders, offering a pathway to mainstream financial services and wealth creation.

Founded in

United States