LOS ANGELES--(BUSINESS WIRE)--Altro, the credit-building app transforming finance by allowing members to build credit history from their recurring monthly expenses, today announces its expansion to 47 US states. Issued by Hatch Bank and running on the Discover® Global Network, Altro is also launching the Altro Credit Builder Card. Altro enables a broad array of recurring subscriptions to be eligible for building users' credit history. Along with the launch of the Altro Credit Builder Card, the company is also launching the latest version of its app, Altro: Culture & Finance. The company has raised $22M to date, including a recent $4M strategic round from celebrity investors.
Altro was founded in 2019 with the mission of bringing financial power to everyone, regardless of their credit history. Previously only available in 10 states, Altro is extensively 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. The latest version of the app includes a variety of features to encompass even more steps of the user's financial journey. Altro’s free membership model provides users with financial literacy content such as access to Altro’s Convos, where CEO Michael Broughton sits down with innovators, celebrities, and entrepreneurs to discuss all things culture and finance. Altro’s free membership also includes access to in-person and virtual gatherings for networking and financial education opportunities across the community.
Altro’s Premium Membership, currently priced at $9.99, offers an elevated experience by granting users exclusive access to the Altro Credit Builder Card, real-time engagements, and active participation in the Convos in-app experience. The Altro Credit Builder Card application is available to paid members with no credit approval, supporting users who are starting or rebuilding their credit history. Tailored for digital and streaming subscriptions, this product utilizes a revolving line of credit to empower users. The Altro Credit Builder Cards are issued by Hatch Bank, a California chartered industrial bank.
"Altro’s collaboration with Discover Global Network along with our expansion into 47 states marks a pivotal step towards our goal of democratizing credit-building for all," said Michael Broughton, founder and CEO of Altro. “It is our mission to reshape the credit landscape and redefine not only what financial empowerment fundamentally means but also who has access to it.”
"Solutions for financial stability are extremely important to level the playing field for the people who have often been left behind,” said Chris Paul, NBA All-Star and entrepreneur. “I'm excited to partner with Altro to create an answer."
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.
To learn more about Altro, visit the website https://www.altro.io/
Download Altro: Culture & Finance v2 in the App Store.
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About Altro
Altro is the credit-building platform transforming finance by leveraging recurring monthly expenses (such as rent and subscriptions like Netflix or Spotify) to build credit successfully. Founded by Forbes 30 Under 30 alum Michael Broughton, Altro is built on the belief that everyone, regardless of credit score or financial history, should have access to financial tools to help them build financial freedom and eliminate anxiety around financial wellness. Altro means “other,” embodying the company’s mission to bring financial power to everyone, particularly the Black and Brown communities that have been disadvantaged through traditional institutions and credit systems. Founded in 2019, Altro has raised $22M in funding 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.
