Majority, a Miami neobank that is focusing on U.S. immigrants, has raising more capital.
The company said in a press release that it had raised $37.5 million in Series B funding, consisting of $30 million in equity from Valar Ventures and Heartland Capital and $7.5 million in debt financing from a U.S. bank.
Majority had previously raised $19 million of seed funding in mid-2021 and $27 million of Series A funds a few months later.
“Our mission, as a company of immigrants for immigrants, has always been to provide migrant communities with the resources they need,” Magnus Larsson, Majority’s founder and CEO, said in the release.
“This funding will help us refine our services and better support these underserved communities,” Larsson added.