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Altro Expands Credit-Building App to 47 States, Raises $22M

March 12, 2024

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Altro Expands Credit-Building App to 47 States, Raises $22M

Altro, the innovative financial education platform, is swiftly extending its reach across the United States. Having started with a presence in just a handful of states, the platform now boasts availability in 47 states, marking a significant leap in its journey. The brainchild of the young Forbes 30 Under 30 honoree, Michael Broughton, Altro’s mission is to equalize the financial playing field, providing a foundation for individuals eager to establish or enhance their credit scores. At the heart of Altro’s offerings is the Altro Credit Builder Card, a unique financial tool designed to help users strengthen their credit through managing regular expenses. This expansion signifies a critical step forward in Altro’s commitment to financial inclusion and literacy, aiming to empower more Americans with the tools for credit-building success.

Growth Powered by Partnerships and Innovation

With its latest expansion, the credit-building app introduces the updated Altro: Culture & Finance app, a blend of financial acumen and cultural relevance tailored to resonate with users. Altro’s collaboration with Hatch Bank and Discover® Global Network has been crucial, as it enables users to build credit through reporting payments for a range of subscription services, including streaming platforms and other commonly used services, making credit building accessible and integrated into users’ daily lives. The innovative model also reflects a commitment to providing educational resources that help users manage their finances effectively, adhering to the philosophy that knowledge is the foundation of financial empowerment.

Capitalizing on Celebrity Endorsements

The road to success for Altro has also been paved by notable celebrity investments. As part of a $4 million strategic funding round, high-profile figures have thrown their support behind Altro’s vision. This influx of capital highlights a trend that sees entertainers and entrepreneurs alike investing in technologies that promise social improvement and financial inclusion. The raise to $22 million in total funding underscores the palpable confidence investors have in Altro’s mission. By securing substantial funding, Altro is well-positioned to enhance its platform further and introduce even more users to its robust financial education and credit-building resources. With free and premium memberships, Altro engages a broad spectrum of users, ensuring their unique financial needs and circumstances are recognized and addressed.

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