An MCA wallet is the account a funder holds your uninvested cash in. When you take a participation in a deal, that amount leaves the wallet. As the merchant repays, your share of collections — minus fees — returns to the wallet, where it can be redeployed into new deals or withdrawn.
What the balance does and does not include
The wallet balance is idle cash only. It does not include money currently out in open deals, and it does not include the profit still to be collected on those deals. A falling balance usually means capital is being deployed, not that the portfolio is losing money.
How to read wallet movement
- Balance down, deployments up: capital is working.
- Balance up with no deployments: cash is idle and earning nothing.
- Balance down with no deployments: withdrawals or fees.
- Balance not matching the funder's figure: reconcile before month end.
Why investors hold more than one wallet
Many investors run separate wallets per funder, per entity, or per capital commitment, so performance can be measured independently. Each wallet has its own opening balance, deployments and collections, and should reconcile on its own.
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More terms in the MCA glossary or run a deal through the MCA calculator.