Our mission is to promote social mobility for immigrants and their families
Let's start with the problem:
Living in the United States as a foreigner is not easy, and the financial system does not help. As immigrants we are excluded from the possibility of building wealth, we do not have a reliable service to do so.
There are many barriers to entry including:
Documents
Immigrants are less likely to have an insurance number².
Language
Lack of services in Spanish³
Cost
Many services for immigrants are overpriced¹
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 any valid and official ID from your country of origin.
Your language
100% bilingual customer service available 24 hours a day, 7 days a week 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 Spanish-speaking immigrants now live in the U.S.
The population is expected to reach 110 million by 2060⁵.
Spanish-speaking immigrants contribute $3.2 billion in 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.
