# Altro

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/altro

- Industry: Financial Services
- Headquarters: Los Angeles, US
- Website: www.altro.io
- Total disclosed funding: $21M
- Latest round: Series A (May 12, 2022)
- Investors on record: 10

## 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.

## Funding rounds

- Series A, May 12, 2022, $18M — Citi Ventures, Gaingels, Marcy Venture Partners, Westbound, MarcyPen Capital Partners, Black Capital
- Seed, Dec 21, 2020, $2.5M — Citi Private Funds Group, Marcy Venture Partners, VilCap Investments, Lombardstreet Ventures, Westbound, Open Opportunity Fund

## Investors

- Citi Private Funds Group — Seed
- Marcy Venture Partners (https://capitalatlas.ai/funds/marcy-venture-partners) — Seed, Series A
- VilCap Investments — Seed
- Lombardstreet Ventures (https://capitalatlas.ai/funds/lombardstreet-ventures) — Seed
- Westbound (https://capitalatlas.ai/funds/westbound) — Seed, Series A
- Open Opportunity Fund (https://capitalatlas.ai/funds/open-opportunity-fund) — Seed
- Citi Ventures (https://capitalatlas.ai/funds/citi-ventures) — Series A
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Series A
- MarcyPen Capital Partners (https://capitalatlas.ai/funds/marcypen-capital-partners) — Series A
- Black Capital (https://capitalatlas.ai/funds/black-capital) — Series A