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MAJORITY raises $19 million for its mobile banking service for migrants

More than a million people migrate to the U.S. each year. Upon their arrival, they face challenges in opening a local bank account and accessing financial services at regular rates. These challenges for migrants, a significant portion of whom also need to send money home, have persisted globally fo…

  • Posted on 31st Aug, 2021 08:55 AM
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MAJORITY raises $19 million for its mobile banking service for migrants Image

More than a million people migrate to the U.S. each year. Upon their arrival, they face challenges in opening a local bank account and accessing financial services at regular rates.

These challenges for migrants, a significant portion of whom also need to send money home, have persisted globally for decades, despite large government support programs.

Now an entrepreneur, who in his previous venture fought exorbitant phone tariff charges to help people make phone calls at low-cost, believes he has found the solution — and definitely a vote of confidence from investors.

MAJORITY said on Tuesday it has raised $19 million in its seed funding. The financial round was led by Valar Ventures while Avid Ventures, Heartcore Capital and several prominent Nordic fintech unicorn founders participated in it.

MAJORITY raises $19 million for its mobile banking service for migrants View Story

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