Altro (fka Perch
Altro is a mobile application that enables users to build their credit scores by tracking and reporting everyday payments and subscriptions. By integrating payment data into credit reporting systems, Altro helps users improve their creditworthiness without requiring traditional credit products.
- Applications
- Financial Technology
- Software Only
Funding
Funding not disclosed
Founders
Founder details are not available yet.
Product
Problem
Many individuals, particularly those new to credit or with limited credit history, struggle to build a positive credit score using traditional methods like credit cards or loans. This lack of credit history can hinder access to essential services and financial products.
Solution
Altro is a mobile application designed to help users establish and improve their credit scores by monitoring and reporting recurring payment activity. The platform analyzes users' existing payment data, such as subscription services and utility bills, and translates this information into credit-building opportunities. By incorporating these non-traditional payment data points into credit reporting, Altro enables users to demonstrate their financial responsibility and improve their creditworthiness without relying solely on credit cards or loans.
Target Audience
Altro primarily targets individuals with limited or no credit history, young adults, and those seeking alternative methods to build credit without using traditional credit products.
Features
- Automated tracking of recurring payments, including subscriptions, utilities, and rent.
- Secure data integration with payment platforms and financial institutions.
- Credit score monitoring and progress tracking within the app.
- Educational resources and personalized tips for credit improvement.
- Reporting of payment history to credit bureaus to establish or strengthen credit profiles.