Bleyt is helping immigrants transfer their credit history across countries. The company has a built-in money app that uses AI to obtain pull financial data from local credit providers and bureaus. It also features a multi-currency account and card, allowing immigrants to minimize delays when accessing financial services in new countries. Immigrants struggling to access financial services When Bleyt’s founder, Wale Akanbi, moved to from Nigeria to the UK in 2021, his credit history did not transfer with him, making it difficult for him to access financial services. “I had
ICE has recently spent approximately $4 million on facial recognition technology to investigate individuals it believes have harmed law enforcement officers, according to procurement records obtained by 404 Media. The records suggest that ICE is purchasing the technology to identify people who might assault the agency’s officers as they continue the Trump administration’s mass deportation efforts. Continuous claims from authorities state that members of the public have assaulted or attacked ICE or immigration enforcement officers. But charges related to these claims have been dropped or lowered when it was highlighted
46.0% of all Fortune 500 companies were founded by immigrants or their children, according to a new report. That percentage is the highest level recorded since the American Immigration Council started examining immigrant entrepreneurs in annual reviews in 2011. Amazon, DoorDash, and Apple were among the Fortune 500 companies founded by immigrants or children of immigrants, as highlighted by the council’s research. These companies employ 15.5 million people worldwide, more than the population in Pennsylvania. As major companies across the country have rolled back their DEI efforts to comply with President Trump’s executive orders, these
Coming to the US and trying to find a job as an immigrant is no easy task. Colombian immigrants Stephanie Murra and Lorenza Vélez saw how many Spanish-speaking people struggled to find their first job in the United States, so they sought a solution. In 2023, the pair launched Miami-based Ponte Labor during their final year at Harvard, according to TechCrunch. Connecting Hispanic workers with future employers The pair observed that employers in blue-collar industries, such as hospitality, construction, and retail, often struggle to find workers to fill hourly roles. Ponte connects
Since returning to office in January, President Trump has ramped up efforts to increase the deportation of immigrants, setting Immigration and Customs Enforcement (ICE) a goal of arresting at least 3,000 migrants a day. In response, ICE raids have surged across the country. High-profile workplace operations in cities like Los Angeles have led to widespread protests and federal deployments. According to The Independent, demonstrations have erupted in more than 40 cities. Many of the recent detentions involve individuals with no prior criminal record. Immigrants now face the risk of arrest in
LemFi, a Nigerian-founded fintech company based in California, has acquired Pillar, a London-based startup focused on providing credit access to immigrants. Speaking to Semafor, LemFi CEO Ridwan Olalere confirmed that the deal was finalized in May. He said the acquisition will pave the way for LemFi to launch a credit card feature within its app. The financial terms of the deal were not disclosed by either company. LemFi acquires Pillar Ashutosh Bhatt and Adam Lewis founded Pillar in 2021, after both working at Revoult. It raised £13 million less than
Entrepreneur Nina Mohanty raised $2 million for Bloom Money, an app designed to help immigrant communities save money. The app, which was founded in 2021, allows immigrants based in the UK to save money collectively, a practice also known as “money circles.” Helping immigrants save money Mohanty worked with banks like Starling Bank, Klarna, and Mastercard and realized they don’t really understand how immigrant communities manage their money. “At a certain point, I just realized I got very frustrated wondering who was building for immigrant communities because I was building
Marshmallow, a British fintech startup aiming to make insurance cheaper, faster, and fairer, has raised $90 million in equity and debt funding. The funding round, led by Portage Capital, will support the company’s expansion into new markets and products amid a growing migrant population. “We think of migration as a huge opportunity. We need migration to put more people into work, and we want to help people move and integrate into the UK,” CEO Oliver Kent-Braham told TechCrunch. The raise nearly doubles Marshmallow’s valuation to $2 billion. New investors include
Undocumented migrants were among the many workers employed to help build Telsa and SpaceX facilities just outside of Austin, TX, despite Elon Musk’s call for stricter immigration policies, a Bloomberg investigation has revealed. Bloomberg Businessweek interviewed labor advocates, contract managers, and ten undocumented workers employed by third-party contractors. To verify their ties to Tesla and SpaceX, Businessweek reviewed site photos and videos taken by employees and confirmed details through family and friends. Undocumented migrant labor at Tesla and SpaceX Undocumented workers have reportedly been a regular part of Tesla’s workforce
Geek Ventures is raising a second fund, as stated in a recent SEC filing, according to TechCrunch. The New York-based tech venture fund is the brainchild of Ihar Mahaniok, an engineer with over 20 years of experience in building code and machine learning. The second fund has raised $9 million so far but has no set target amount; its first sale was recorded on Monday, January 13, as stated in the filing. Helping immigrants in the tech industry Mahaniok grew up in Belarus, where he did an undergraduate in computer
