“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.
Majority discloses Axiom Bank as its banking provider, with Axiom Bank, N.A. as its sponsor bank, according to the Embedded Finance Index 2026.
Majority does not disclose a bank charter of its own; its banking services are provided through Axiom Bank, N.A..
Majority's cards are issued through Axiom Bank.
The Embedded Finance Index 2026 maps 3 layers in Majority's stack: Banking / BaaS (Axiom Bank); Card issuing (Axiom Bank); Sponsor bank (Axiom Bank, N.A.).
Majority was founded by Magnus Larsson and is founded in 2019, headquartered in Miami, FL, USA.
Majority has raised $103.3M+ in total (latest round: Series B + additional equity round, 2024).
Get a read on where your own stack stands against Majority and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.