Full-Time
Majority
51-200 employees
Mobile banking services for migrants
No salary listed
Junior, Mid
New York, NY, USA
Candidate must be a resident in New York City.
- Resident in the city you are applying for: You know and understand the needs of the local community.
- Experience in sales, marketing or operational management.
- Excellent communication and leadership skills: Ability to motivate, guide and empower the talent of your team, making them reach their full potential.
- Strong organizational and problem-solving skills.
- Teamwork: We value collaboration and creating a mutually supportive environment where everyone grows and learns.
- Ability to work independently and share data with the Sales Manager.
- Proficient in Microsoft Office (Word, Excel, PowerPoint, Outlook).
- Minimum of 1 year of sales, marketing or operational management experience.
- Demonstrated ability to develop and implement successful sales and marketing strategies.
- Spanish, preferably also English.
- As Team Leader, your mission is to build a strong, motivated team that helps us reach more migrants and establish meaningful relationships in the community. With your leadership, you will help our services not only grow, but become a trusted resource for the people who need it most.
- Preferably also English.
MAJORITY provides a mobile banking solution tailored for migrants, offering services like international money transfers, mobile top-ups, and personalized financial advice. The mobile app allows users to send money abroad without fees, save money, and make free international calls to over 20 countries. MAJORITY focuses on the unique financial needs of migrants, addressing challenges such as high transfer fees and limited access to traditional banking. Unlike competitors, MAJORITY emphasizes multilingual support and community engagement, creating a supportive environment for its users. The company's goal is to simplify banking for migrants, helping them manage their finances and stay connected with their families.
Company Size
51-200
Company Stage
Series B
Total Funding
$113.3M
Headquarters
Stockholms kommun, Sweden
Founded
2019
Simplify's Take
What believers are saying
- MAJORITY's expansion into Texas positions it strategically near the U.S.-Mexico border.
- The $37.5 million Series B funding boosts MAJORITY's capacity for innovation and expansion.
- The growing U.S. immigrant population presents a substantial market opportunity for MAJORITY.
What critics are saying
- Emerging competition from niche digital banks could challenge MAJORITY's market share.
- Regulatory scrutiny on account opening requirements may impact MAJORITY's customer acquisition.
- Geopolitical risks at the Texas border could affect MAJORITY's operations.
What makes Majority unique
- MAJORITY offers a unique banking solution tailored specifically for migrants.
- The company provides multilingual support and personalized financial advice for diverse migrant communities.
- MAJORITY's app-based platform includes fee-free international money transfers and discounted international calls.
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Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↓ -1%2 year growth
↑ 0%A swathe of digital banks targeting specific demographics have sprung up in recent years. In the US, examples include Greenwood, focused on serving black Americans; Cheese Financial, aimed at the Asian community and Majority, serving immigrant groups. Daylight, an online banking provider focused on the LGBTQ community, shut down in 2023.Across Europe, Triodos Bank is a Netherlands-based bank that says it will only lend money to organisations that are committed to making a positive social change while in the UK Oxbury has a singular focus on British farmers.Next cab off rankThe next cab off the rank could well be soon-to-launch Ethos, a digital bank which is primarily, but not universally, targeting the four million UK Muslim community with Shariah-compliant banking services.Earlier this week, a press release was issued saying that Ethos was working with Thought Machine, which develops cloud-based banking software for Lloyds and JP Morgan, to launch a bank, kicking off with savings accounts and mortgages.The remit of Ethos Venture, Ethos’s parent company, is to launch “inclusive” financial services products, according to its co-founder and CEO Hasan Raza, a former investment banker with HSBC and BNP Paribas.Ethos Ventures, founded in 2020, says it has “built a team of over 20 world-class experts spanning retail and wholesale banking, investment banking and private equity”. Raza says Ethos Ventures has previously tried and failed to buy existing banks, so has now turned to launching its own.Financing behind the digital bank comes courtesy of investors from the UK, the Gulf and South East Asia, says Raza, though he does not share specific funding numbers.Awaiting UK banking licence approvalEthos applied for a full FCA and PFA UK banking licence in October last year and says its application is at a “mature stage”. Its decision to kick off with savings and mortgages marks a left-of-field manoeuvre, given the received wisdom is to start with current accounts.Raza says: “Most startup banks, if you look at Monzo and Starling, they began with transactional banking. “And the hard bit, creating a lending book which is where banks make long-term income, they didn’t do until much later down the line.“We began with let’s do the hard bit first
It can be challenging to pick up and move to a new country, made even more challenging if you are not used to the style of banking in that particular country.The increase of immigrants to the United States — some 50 million total foreign-born people live in the US now, according to immigration think tank Center for Immigration Studies — present an opportunity for startups to tailor financial services to this population. Companies like Comun, Maza, Alza and Welcome Technologies, for example, help Latino immigrants open bank accounts. 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. There is also a peer-to-peer pay feature.Accounts don’t require a Social Security number or U.S. documentation, just an international government-issued ID and proof of U.S. residence
MAJORITY opens 1st physical location on Texas border in Laredo.
MAJORITY has also received $9.75 million in funding from Valar Ventures and Heartcore Capital.
Majority's new location positions the company close to The Gateway to the Americas International Bridge that crosses the Rio Grande in Texas.