MAJORITY

MAJORITY offers a mobile banking platform that allows migrants to open accounts in the U.S. without a Social Security Number, facilitating money transfers, top-ups, and international calls. The service provides measurable benefits such as cashback on debit card purchases and free calls to over 20 countries, addressing the financial inclusion needs of underserved communities.

Traction 10/10

Stockholm, Sweden · HQ

Founded 20191903K+ followers

Applications
Financial Technology
Software Only

Updated 23 months ago

Funding

Raised to date

$120.8MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.

Funding rounds are not available yet.

Founders

2 founders

Magnus Larsson

CEO

Hjalmar Winbladh

Last cofounder- First investor

Product

Problem

Migrants often face challenges in accessing traditional banking services in the U.S. due to the requirement of a Social Security Number (SSN), which can create barriers to financial inclusion. This lack of access limits their ability to manage finances effectively, send money home, and connect with loved ones internationally.

Solution

MAJORITY provides a mobile banking platform designed specifically for migrants, enabling them to open accounts in the U.S. without needing an SSN. The platform offers a comprehensive suite of financial tools, including a debit card with cashback rewards, affordable money transfer services, and cost-effective international calling plans. By removing the SSN requirement and offering tailored services, MAJORITY aims to empower migrants with accessible and convenient financial solutions.

Target Audience

The primary target audience is migrants residing in the U.S. who may lack a Social Security Number or face difficulties accessing traditional banking services.

Features

Mobile banking account opening without a Social Security Number (SSN)
MAJORITY debit card with cashback rewards on select purchases
International money transfers to various countries
Mobile top-ups for prepaid phone plans
Free international calls to over 20 countries
Multilingual customer support
FDIC insured accounts