TechCrunch
The increase of immigrants to the United States — some 50 million total foreign-born people live in the U.S. now, according to immigration think tank Center for Immigration Studies — presents an opportunity for startups to tailor financial services to this population. Magnus Larsson, himself an immigrant from Sweden, ran into similar problems and created Miami-based Majority in 2019 to address them. For a $5.99 per month membership fee, migrants can open a bank account and get a debit card, community discounts, fee-free international money transfers and discounted international calling.