Our mission is to enable upward mobility for Latinos living in the US
Let's start with the problem:
Living in the United States as a foreigner is not easy, and the US financial system does not help. Trustworthy financial services are critical for building wealth, and unfortunately, millions of Latinos are left out.
There are many barriers to entry including:
Documents
Latinos are less likely to have an SSN²
Language
Latinos lack Spanish speaking services³
Cost
Many services for Latinos have exploitative pricing¹
This creates a structural opportunity gap:
2x - 3x
more likely to be underbanked and unbanked, respectively³
3x
higher fees paid on deposit accounts¹
30%
less likely to have financial literacy⁷
At Comun, we have the solution:
Reduce these barriers to entry to accelerate integration with the digital economy.
Your documents
Comun is the only platform that allows you to apply with more than 100 LATAM IDs.
Your language
100% bilingual customer service with native Spanish speakers available 24/7 by chat, mail, or phone.
Your neighborhood
A network with thousands of locations to deposit and withdraw cash wherever it is most convenient.
Inclusive financial services will help grow Latinos’ already outsized impact on the US economy:
62 million Latinos now live in the USA
The population is expected to reach 110 million by 2060⁵.
Latinos contribute $3.2 billion to GDP
This represents the 5th largest GDP in the world (more than Mexico and Brazil combined)⁴.
+1 million immigrants yearly
Immigrants will continue to play a key role in addressing the worker shortage gap in the USA⁶.
Our team is uniquely positioned to build this solution
We are a team of immigrants from all over the world and many LATAM countries including Mexico, El Salvador, Panama, Venezuela and Guatemala.
We have a team with over 50 years of combined experience in banking and technology services. We want to leverage that experience to dedicate ourselves to helping our community achieve a better financial life.
You are in good company
Backed by top VC funds including:
Endorsed by 50 company executives including:
We are proud that more than 10% of our capital comes from Latino investors
Read about us in the news
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American Banker
Neobank for Latino immigrants raises $4.5 million in seed funding
A challenger bank for Latino immigrants has closed its seed round. Comun in New York announced Tuesday that it has raised $4.5 million in seed funding led by Costanoa Ventures with participation from South Park Commons and FJ Labs. Its digital banking app became available to consumers in September.
