FinTech news in immigrant category

Earlier this year, Majority announced that users can register for an account without needing a social security number or U.S. documentation, and instead use an international government-issued ID and proof of U.S. residence — a move the startup says could make its services more accessible. The fintech announced today that it has raised a $37.5 million Series B, $30 million of which is in equity financing led by Valar Ventures and other existing investors, and the remaining $7.5 million in debt financing from an undisclosed U.S.-based commercial bank. Nine months after raising a Series A round, Majority has raised tens of millions in both equity and debt financing for its mobile bank for migrants. Creating physical spaces has helped the Majority gain trust with consumers, Larsson explained, showing that the company won’t just show up, handle money and disappear in a few weeks due to the volatility of startups.