Comun raises $21.5m for immigrant-focused neobank; has seen its active customer based increase by more than 50% month-over-monthComun, a Latino-founded neobank for immigrants in the US, has raised $21.5 million in a Series A funding round. The company, which works with a partner bank, stresses its effort to keep the price of services low, with no minimum balance requirements, monthly fees, overdraft charges, or membership fees. Since launch, it has seen its active customer based increase by more than 50% month-over-month. This year, growth has been spurred by the introduction of a remittance programme, the launch of the largest network of cash deposit locations in the US, and the doubling of its bilingual 24/7 support team.

August 29, 2024 // by Finnovate

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« Comun raises $21.5m for immigrant-focused neobank; has seen its active customer based increase by more than 50% month-over-monthComun, a Latino-founded neobank for immigrants in the US, has raised $21.5 million in a Series A funding round. The company, which works with a partner bank, stresses its effort to keep the price of services low, with no minimum balance requirements, monthly fees, overdraft charges, or membership fees. Since launch, it has seen its active customer based increase by more than 50% month-over-month. This year, growth has been spurred by the introduction of a remittance programme, the launch of the largest network of cash deposit locations in the US, and the doubling of its bilingual 24/7 support team.

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