Majority
“Can a membership-based neobank bundling financial services, remittances, and telecom perks become the primary financial platform for the 50M+ foreign-born people living in the US?”
Founded in 2019 by Magnus Larsson as a mobile banking platform specifically targeting immigrants to the US, Majority differentiated by bundling financial services with telecom perks (international calls, SIM cards) and community discounts under a $5.99/month membership model. The company expanded from a Florida-focused launch into national scale, onboarding users with passports rather than SSNs. By 2024, with 3x revenue growth and $20M in additional funding, Majority solidified its niche as an all-in-one financial OS for the US immigrant community, combining FDIC-insured banking, debit cards, remittances, and mobile top-ups into a single app.