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Chris Paul, Tinashe, And Quavo Invest In Altro's $4M Funding Round To Democratize Credit Building For Everyone

Notable names in sports and music have gathered to make credit building more accessible to the masses. According to a press release shared with AFROTECH™, Tinashe, Quavo, Chris Paul, and Marshawn Lynch are among the investors who participated in Altro’s latest strategic funding round totaling $4 million. The round brings the credit-building and financial literacy platform’s total funding to $22 million. Altro, formerly known as Perch, was founded in 2019 by Michael Broughton. It allows users to strengthen their credit scores through “everyday payment and subscriptions” such as Netflix, Spotify, Amazon Prime, Starz, and more. Additionally, the company offers educational resources even to its baseline free membership model. Resources include Altro’s Convo, consisting of brief audio episodes discussing various cultural and financial subjects, and in-person and virtual networking events and opportunities. Prior, Altro was available in 10 U.S. states. In light of the star-studded round,...

Samantha Dorisca

Mar 6, 2024

Jay-Z Invests In Black-Led Altro, A No-Cost App Helping To Build Credit Through Existing Spending Habits Like Netflix And More

In the words of Jay-Z, “I won’t buy it until I can buy it twice.” The Hip-Hop mastermind turned business mogul has been dropping gems for Black people to get their finances in order for quite some time now. So, it’s only right that he does his part to help the community do so by investing in Altro, a platform that helps build credit and provides education on financial literacy. View this post on Instagram A post shared by Altro (@altro_finance) Altro — formerly known as Perch — has just secured the funding needed to further democratize credit building “through recurring payment forms like digital subscriptions” — think Netflix, Hulu, Spotify, and more. With approximately 63 million Americans who are either unbanked or underbanked, Altro is on a mission to use streaming service payments to help people not only build their credit but improve it. According to a press release, the Series A funding round, led by Pendulum, totaled $18 million thanks to other companies like Jay-Z’s Marcy...

Shanique Yates

May 13, 2022