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.

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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 Venture Partners, Citi Ventures, Black Capital Fund, Concrete Rose Fund, and a host of others.

The new funding will be used to fuel company growth, geared toward credit-building and its financial literacy education program with an aim to provide underrepresented individuals with financial power.

Perch

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