Comun Secures $21.5M Series A Funding to Fuel Expansion

Comun, a Latino-founded neobank, is making waves in the U.S. with its modern banking solutions tailored for immigrants. The NYC-based company recently raised $21.5M in Series A funding, positioning itself for growth.

• Funding Details: The round was led by Redpoint Ventures. Other participants include Animo Ventures, Costanoa Ventures, FJ Labs, RTP Global, and South Park Commons.

• Planned Expansion: With the new capital, Comun aims to expand its products and services, while bolstering its team in key areas.

• Service Overview: Founded in 2021 by Abiel Gutierrez and Andres Santos, Comun offers U.S.-based Latinos a seamless way to open checking accounts using valid IDs from their home countries, deposit cash at over 88,000 locations, send money home securely, and access paychecks up to two days early—all designed to make banking more accessible for immigrants.

• Banking Details: While Comun is a fintech company, its banking services are provided by Community Federal Savings Bank, a member of the FDIC.

With a focus on serving the Latino community, Comun is set to make significant strides in the U.S. financial landscape.