Altro, a Los Angeles, CA-based provider of a credit-building app, raised $4M in funding.
Backers included Tinashe, Quavo, Chris Paul, Marshawn Lynch & more.
The company, which has raised $22M to date from investors such as Pendulum, Marcy Ventures, Citi Impact Fund, Black Capital Fund, Concrete Rose Fund and individual investors such as Dick Parsons and Deborah Quazzo, among others, intends to use the funds to expand operations and its business reach.
Led by CEO and Founder, Michael Broughton, Altro is a provider of a credit-building platform leveraging recurring monthly expenses (such as rent and subscriptions like Netflix or Spotify) to build credit. Participating subscription services include but are not limited to: Netflix, Amazon Prime, MAX, X/Twitter, Disney+, Hulu, Spotify, LinkedIn, Peloton, ESPN+, Coursera, Chegg, Starz, Peacock, MGM+, OpenAI, SoundCloud, Paramount+, and more.
Previously only available in 10 states, Altro is expanding its reach to residents in 47 U.S. states and is now reporting to all three major credit bureaus in Experian, TransUnion, and Equifax.
