Majority, a mobile bank for migrants, closes $30m Series B

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. 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.

In a little over one year, Majority has raised a $19 million seed$27 million Series A and now a $37.5 million Series B round. Yet, today’s round — mostly fueled by existing investors — feels a bit different, according to CEO and co-founder Magnus Larsson.

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