Digital banking services have brought greater accessibility through smartphone apps and websites customers can consult instantaneously. All they need is a government-issued ID such as a Social Security number. 

Without this proof, today’s fintech model bars almost all undocumented immigrants in the U.S. from accessing its services. 

Maza Inc., a startup growing operations out of downtown Los Angeles, wants to change that. 

In June, the company publicly debuted a financial platform primarily serving immigrants without Social Security numbers or U.S. tax identification documentation. 

The platform raised $8 million in a seed round led by Andreessen Horowitz, one of the top venture capital firms in Silicon Valley

Working with the Internal Revenue Service, the company gives Individual Taxpayer Identification Numbers and bank account access to customers, allowing them to receive payments, file taxes and access credit, along with other vital banking services.

“As descendants of Latin American immigrants, my co-founders and I are building the company our parents needed,” said Luciano Arango, chief executive officer and co-founder of Maza. 

Maza is not a bank. Members pay $150 a year to access the platform’s financial services connecting payment capabilities with partners Visa Inc. and Blue Ridge Bankshares Inc. Its services also integrate with all major payment platforms.

Founded in 2022, the 15-person company operated in “stealth” for more than a year. Maza is focused on primarily Spanish-speaking or Latino populations, and has amassed 50,000 customers through bulletins posted in neighborhoods with large numbers of Latino residents, such as East Los Angeles.