Majority raises $30 million

Majority, a startup providing mobile banking for migrants in the US, announced a $37.5 million Series B funding raise, encompassing $30 million in equity from Valar Ventures and Heartland Capital, and $7.5 million in debt financing from a US-based commercial bank.

Founded in 2019, Majority’s membership offering goes for $5.99/mo and includes a bank account, debit card, community discounts, free international money transfer and discounted international calling. Banking services are provided by Sutton Bank.

“Our mission, as a company of immigrants for immigrants, has always been to provide migrant communities with the resources they need. This funding will help us refine our services and better support these underserved communities.” – Majority CEO Magnus Larsson.