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New York-based fintech offering a prepaid debit account and mobile banking for underbanked communities and municipalities.
Founded in 2015 and headquartered in New York, MoCaFi provides financial services to underbanked populations in the United States. Its MoCaFi Bank Account is a prepaid debit Mastercard with a mobile app and 24/7 support, and users can receive government and philanthropic funding without ATM fees. It works with municipalities and community organizations, including in Los Angeles and Birmingham. In December 2022 the company raised USD 21.85 mn in Series B funding led by Commerce Ventures. CEO Wole Coaxum leads the company.
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