Altro, Inc.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Altro, Inc. - overview
Established
2019
Location
Los Angeles, CA, US
Primary Industry
Financial Services
About
Founded in 2019 and based in California, US, Altro, Inc. formerly known as Perch Credit operates as a provider of digital finance technology that enables users to earn credits from payment and subscription transactions. In December 2020, Altro raised USD 2. 5 million in Seed funding from new investors Marcy Venture Partners, Citigroup Inc.
, SoftBank Group Corp. ’s opportunity fund, Concrete Rose Capital, and Vilcap Inc. In May 2022, Altro, Inc. raised USD 18 million in Series A funding led by new investor Pendulum, with participation from other new investors Citi Ventures and Gaingels Syndicate.
Returning investors Concrete Rose, Marcy Venture Partners, and individual investors also participated in the round. The Series A funding values Altro at USD 61 million post-money. The company is led by co-founder and CEO Michael Broughton. Altro helps users build credit by counting recurring payments and subscriptions.
Altro is focused on educating users through a catalog of over 350 educational audio clips covering topics like cryptocurrency, investing, and trading. The app allows users to easily link these recurring payments to leverage unseen and uncounted payments to build their credit score. The company generates revenue by what the company’s subscription partners are paying Altro a fixed percentage of what its users are paying to them directly. The company plans to use the 2022 funding to further develop its product offerings and increase its workforce.
Current Investors
Citi Ventures, Gaingels , Marcy Venture Partners
Primary Industry
Financial Services
Sub Industries
e-Financial, Accounting/Finance Software
Website
www.altro.io
Verticals
FinTech, Mobile Apps
Company Stage
Series A
Total Amount Raised
Subscriber access only
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.