Altro is a credit-building platform that leverages recurring monthly expenses and streaming/digital subscriptions to help members build or rebuild credit. The company issues the Altro Credit Builder Card through Hatch Bank and runs on the Discover Global Network. Altro reports to all three major credit bureaus (Experian, TransUnion and Equifax) and has expanded availability to residents in 47 U.S. states. The company offers a free membership with financial-literacy content and community events, and a Premium Membership priced at $9.99 that includes the Altro Credit Builder Card and additional in-app experiences. Altro recently launched an updated app, Altro: Culture & Finance, and highlights partnerships and support from celebrity investors as part of its growth and product rollout. Altro builds a platform that finds users’ recurring transactions (Netflix, Spotify, Hulu, Apple Music, Amazon Prime, HBO Max, and others) and connects them to a tradeline reported to all three credit bureaus to improve FICO scores. Founded in December 2019 (originally Perch Credit), the company began by identifying subscription spend and linking it to credit reporting rather than creating a proprietary score. By its December 2020 seed it had a couple thousand customers, and by 2021 the app had over 200,000 downloads and went viral after Marcy Ventures wrote about it, producing thousands of videos and a waitlist with over 3,000 immediate responses. Altro’s app is free for users; the company monetizes via interchange and subscription-partner fees, taking a fixed percentage of user payments through relationships with Visa and Mastercard. The startup also offers over 350 educational audio clips to improve financial literacy and engagement. Near-term plans include growing its credit and financial literacy program, hiring a marketing team to scale acquisition, and reintroducing rent-payment reporting.

Total raised

$22M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2024