It’s been quite a ride since we launched as Perch in 2019.

Who could have thought that the terror and frustration of being denied a student loan would blossom into a fully-fledged business?

That all-to-common fear of missing out on financial independence and the opportunities that come with it brought us here today.

Breaking the catch-22

I was the first in my family of nine to attend college. Money was tight, and I needed an extra $10K to cover the remaining tuition for my first semester. But I couldn’t apply for a loan without existing credit and couldn’t build credit without proof of loans.

This infuriating paradox ignited my desire to change the power dynamic.

Altro (originally Perch) was founded on the simple premise that everybody deserves credit. Our free-to-use alternative credit building app uses nontraditional forms of payment history like Netflix, Spotify, and virtually any other digital subscription to prove creditworthiness.

I’m proud that we’ve built a financial solution that not only sidesteps outdated and discriminatory systems but fundamentally changes the rules of the game itself.

Bringing financial power to all

Our fresh and fair approach to credit-building evidently struck a chord.

After attracting the attention of investors like Jay-Z’s Marcy Venture Partners, Citi Ventures, and Pendulum, we went viral — amassing a 200K-person waitlist that far exceeded anything we could have imagined.

But we’re just getting started.

There are still 63 million Americans who are considered unbanked or underbanked. We’re on a mission to empower every single one of them with the financial tools and knowledge to dream beyond their present circumstances.

I’m pleased to report that we’ve officially invited everyone on the waitlist to fully onboard onto the app.We also just raised an additional $18M in funding, which we announced today via TechCrunch.

Why Altro?

Altro literally means “other,” and we believe that if given the opportunity, knowledge, and resources, us “others” will change the world for the better.

Altro is for everyone, but especially for those of us who have been overlooked, discounted, and excluded. I’m talking about those of us who don’t fit nicely into the mold that wasn’t even created for us in the first place.

We are in the business of empowering great people to do great things by helping them get their money right first. We measure success by our members achieving their financial ambitions and wholeheartedly believe that no goal is unattainable.

Just ask Sam, an Uber driver from L.A. who was able to raise his credit score over 150 points in two short weeks and move across the country to find a new job and reunite with his daughter.

This is Altro. Welcome to our community.

With gratitude,

Michael Broughton, CEO & Co Founder