MoCaFi Named to Fortune's 2021 Impact 20

NEW YORK and NEWARK, N.J., Oct. 25, 2021 /PRNewswire/ -- MoCaFi (Mobility Capital Finance, Inc.), the Black-owned and led financial technology, mobile-first banking platform committed to bringing financially underserved communities in the United States into the digital economy, has been named to FORTUNE's 2021 IMPACT 20.

The Impact 20 is a new FORTUNE list that recognizes venture-backed and private equity-backed startups that focus on tackling key social and environmental issues as part of their business models.

Companies are required to have at least some revenue from business operations to be considered for the list. Beyond that, candidates are evaluated on four criteria:

1. Potential Impact. How substantial is the potential impact of the company's actions in remediating a problem or unmet need?

2. Business Viability. How likely it is that the company's business model will ultimately be successful on a continuing operating basis, and to what extent will remediate a problem or unmet need contribute to that success?

3. Innovation and Leadership. To what degree is the company a leader in its category? How pioneering is its approach? Does the scale of its solution match the scale of the problem it is addressing?

4. Track Record. What is the company's time frame for making a substantial impact? More credit will be given to startups that have established a track record of addressing the social or environmental concerns on which they are focused.

Companies were allowed to self-nominate, and Fortune's editors and writers also nominated candidates. A team of Fortune editors and writers reviewed all submissions, with input from experts in the field, and determined the final list.

MoCaFi, which was named to the Forbes Fintech 50: Most Innovative Fintechs of 2021, kicked off the Angeleno Connect program on September 8th in Los Angeles with Mayor Eric Garcetti. The Angeleno Connect Bank Account is a digital financial platform with two distinct products that address the needs of the nearly 500,000 Angelenos who are unbanked or underbanked.

MoCaFi has also partnered with the YWCA of Metropolitan Chicago on the RESPECT Bank Account; the cities of Columbia, SC,  Paterson, NJ, and Newark, NJ on Guaranteed Basic Income programs; and Rocket Mortgage on a program to help more Americans qualify for homeownership.

MoCaFi's innovative banking platform provides access to credit-building tools and financial literacy programs. MoCaFi has assisted individuals, families, and businesses in need through partnerships with organizations and cities providing direct services throughout the pandemic. 

For more information, go to mocafi.com.

Media contact:
Marjorie Fields Harris
[email protected]
(917) 719-0348

SOURCE MoCaFi