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
Vesti, an AI-powered neobank specializing in services for immigrants, has announced plans to preorder 100 Tesla Robotaxis, following Tesla’s recent reveal of the vehicle’s design. The goal is to provide accessible transportation options tailored to immigrant needs in major cities worldwide. Accessible Transport Solutions for Immigrant Communities With cities becoming more crowded and public transport systems under strain, Vesti’s Robotaxis aim to simplify local travel for immigrants navigating new environments. Vesti plans to deploy these autonomous vehicles in cities like New York, Toronto, and London, where immigrant communities face unique
New York-based fintech startup Comun is redefining the bank experience for Latine immigrant communities in the US and reimaging local banking for the digital world. Founded in 2021 by Andres Santos, CEO, and Abiel Gutierrez, CTO, both of whom experienced financial exclusion upon migrating to the US, Comun has secured $9 million in funding to date. Banking Disparities in the Latine Community The Latine population contributes a staggering $3.2 trillion to the US GDP. This makes it the world’s fifth-largest economy, more than the GDPs of India, the UK, and
Leap Financial, a financial services tech company focused on Hispanic and Latin Americans, has launched Lola AI. The new AI assistant coaches recently arrived immigrants to the US, helping them fully integrate. Leap Financial The 2022 Census estimated more than 46 million immigrants live in the US, comprising about 13.9% of the population. Almost 80% of America’s unicorn companies have an immigrant founder or an immigrant in a crucial leadership role, such as CEO. Leap Financial is a team of engineers, designers, and software developers who create and launch innovative
