Altro Analysis: $18M Raised
What is Altro?
Altro enables users to link recurring payments like rent and subscriptions to build credit. The platform uses a unique 'exponent' model where each payment contributes to a growing credit score. Acquired by a major financial institution in 2024, Altro has helped millions of users achieve credit scores of 850 or higher.
Location
Los Angeles, United States
Employees
201-500
Founded
2019
Revenue
$89.3M - $145M
Business Model
Subscription fees and B2B revenue model targeting $3-$5 million annually.
Product Features & Capabilities
- Credit Builder Credit Card, no credit check required, part of the Discover Global Network, link subscriptions (Netflix, Hulu, etc.) to card, payments reported to credit bureaus, increase financial literacy through the app, weekly podcast (CONVOS) with experts, in-person community events.
How much Altro raised
1: - $18 million
May 2022Lead Investor: Pendulum Holdings, Marcy Ventures, Citi
Who are the founders of Altro
MB
Michael Broughton
Founder
AJ
Ayush Jain
Founder & CTO
Market Focus
Altro primarily focuses on the financial technology industry, specifically in empowering users to build their credit scores through innovative payment solutions linked to subscription services.
Investors
- Pendulum
- Marcy Ventures
- Citi Impact Fund
- Black Capital Fund
- Concrete Rose
- Evolution VC Partners
- Chris Paul
- Tinashe
Competitors Overview
Altro's main competitors in the financial technology market include:
-
Arro: Offers credit-building solutions through unsecured credit card offerings, focusing on helping users improve their credit scores. Arro's advantage lies in its straightforward credit card approach, which may appeal to users looking for traditional credit-building methods.
-
StellarFi: A public benefit corporation that enables users to build credit by reporting bill payments (like rent and utilities) to credit bureaus. This service allows users to improve their credit scores without needing a credit card, which can be beneficial for those who may not qualify for traditional credit products.
-
Self: Focuses on increasing economic inclusion and financial resilience through its credit-building platform, which helps users establish and improve their credit history. Self's unique selling point is its emphasis on financial education and resilience, making it a strong competitor for users looking for comprehensive support.
-
Credit Sesame: Provides tools for managing and improving personal credit, including daily credit score monitoring and personalized financial advice. Its advantage is the extensive resources and tools available for users to actively manage their credit.
-
Portify: Offers a credit score-building app that allows users to improve their credit scores through various financial services. Portify's integration of multiple financial services can attract users looking for a more holistic approach to credit building.
-
PerPay Shopping: Operates in the e-commerce sector, providing a marketplace for purchases where consumers can shop and pay over time, which may also impact their credit scores. This unique model allows users to build credit while shopping, appealing to a different segment of the market.
Notable differences among these competitors include the specific services they offer, such as bill payment reporting by StellarFi and the e-commerce integration by PerPay Shopping, which may cater to different user needs compared to Altro's subscription payment model.
See something that needs updating? Suggest edits to this profile.