Majority, a Miami, FL-based company which specializes in mobile banking for migrants in the U.S., raised USD9.75M in funding.
The round was led by Valar Ventures and Heartcore Capital.
The company, which has now raised has now raised over $86M in equity, intends to use the funds for further growth along the United States-Mexico border.
Led by Magnus Larsson, Founder and CEO, Majority is a provider of a mobile banking service dedicated to serving migrants. For $5.99 per month, its members in the U.S. receive an FDIC-insured account, a Visa debit card, use of more than 55,000 ATMs across North America, remittance and international calling, in-person native language advisors, and access to a network of community meet-up spaces, local discounts, and events.
The Visa debit card is issued by Axiom Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.
After opening four community spaces in migrant-dense cities throughout Florida and Texas, the company will open a new location in Laredo to further support Hispanic immigrants. Laredo is the principal port of entry from Mexico and the largest inland port in the U.S.
FinSMEs
14/06/2023