Majority is a Miami-based fintech company building a banking platform tailored for immigrants and migrants. It offers a $5.99 monthly membership that includes a bank account, debit card, community discounts, and low-cost international money transfers.[1] The platform solves financial access challenges for newcomers by providing essential banking services, serving primarily immigrant communities, and demonstrating strong growth through 3x revenue increases over three years, expansion to 80 employees, and over $90 million in total equity funding.[1][4]
Majority was founded by CEO Magnus Larsson, with TechCrunch tracking its journey since a $19 million seed round in 2021. The company progressed with a $27 million Series A and multiple Series B tranches, including $9.75 million in 2023 and a recent $20 million round ($12.5 million equity led by fintech founders like Klarna's Victor Jacobsson, plus $7.5 million debt).[1] Early traction stemmed from addressing migrant banking needs, leading to rapid scaling; Larsson recently hired Abhi Pabba, ex-Apple Card credit risk manager, as chief risk officer to support product expansion.[1] The Miami focus ties into local tech growth, with Larsson discussing fintech's future and stablecoin bets.[4]
Majority rides the fintech wave targeting underserved immigrant populations amid rising global migration and remittance markets (projected to serve millions).[1] Timing aligns with post-pandemic digital banking adoption and stablecoin innovations, reducing transfer costs in a sector where migrants send billions home annually; Majority influences by proving scalable models for niche banking, potentially inspiring ecosystem-wide inclusion efforts.[1][4] Its Miami base leverages #MiamiTech's rise, contributing to U.S. fintech hubs while challenging incumbents on pricing and accessibility.[4]
Majority is poised for aggressive expansion, with product launches possibly in 2025, stablecoin integration, and a push toward 300 million users by enhancing thriving tools for migrants.[1][4] Trends like crypto remittances and AI-driven risk will shape its path, amplifying influence in inclusive fintech amid regulatory tailwinds. As a growth engine for immigrant success, Majority exemplifies how targeted tech platforms can redefine financial access at scale.[1]
MAJORITY has raised $89.0M in total across 4 funding rounds.
MAJORITY's investors include Airtree Ventures, Andreessen Horowitz, Avenir, Avid Ventures, Bain Capital Ventures, Bessemer Venture Partners, Blackbird Ventures Australia, Bond, Earlybird Venture Capital, ENIAC Ventures, Felicis Ventures, Kairos HQ.
MAJORITY has raised $89.0M across 4 funding rounds. Most recently, it raised $13.0M Series B in May 2024.
