Altro – a credit-building app transforming finance by enabling members to build credit history from their recurring monthly expenses – announced the expansion to 47 US states. Issued by Hatch Bank and running on Discover’s Global Network, Altro is also launching the Altro Credit Builder Card.
Altro enables a broad array of recurring subscriptions to be eligible to build users’ credit history. Along with launching the Altro Credit Builder Card, the company is also launching the latest version of its app, Altro: Culture & Finance. And the company has raised $22 million so far, including a recent $4 million strategic round from celebrity investors.
The company was launched in 2019 to bring financial power to everyone, regardless of their credit history. Previously only available in 10 states, Altro is expanding its reach to residents in 47 U.S. states and is now reporting to all three major credit bureaus Experian, TransUnion, and Equifax.
This latest app version includes various features to encompass even more steps of the user’s financial journey.
Altro’s free membership model offers 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 community networking and financial education opportunities.
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. And 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. Personalized for digital and streaming subscriptions, this product utilizes a revolving line of credit to empower users. Hatch Bank, a chartered industrial bank in California, issues the Altro Credit Builder Cards.
The participating subscription services include Netflix, Amazon Prime, MAX, X/Twitter, Disney+, Hulu, Spotify, LinkedIn, Peloton, ESPN+, Coursera, Chegg, Starz, Peacock, MGM+, OpenAI, SoundCloud, Paramount+, and more.
KEY QUOTES:
“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. 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.”
- Michael Broughton, founder and CEO of Altro
“Solutions for financial stability are extremely important to level the playing field for the people who have often been left behind. I’m excited to partner with Altro to create an answer.”
- Chris Paul, NBA All-Star and entrepreneur
