Altro (https://altro.io) is a fintech platform designed to help individuals build credit by leveraging their recurring subscription payments, such as Netflix, Hulu, and HelloFresh. The company specifically serves people who have been historically denied access to credit—primarily women and people of color—by enabling them to establish or improve their credit scores regardless of their credit history or background.
Altro offers a mobile application that extends a $75 line of credit to its members. This credit line is used exclusively for paying for subscriptions that members already have, allowing them to build credit using their existing spending habits. By reporting these regular payments to credit bureaus, Altro empowers users to start building a positive credit history without needing to take on new debt or change their financial routines.
The platform addresses a significant need in the U.S., where around 68 million people face challenges accessing traditional credit products due to systemic biases and historical exclusion from financial services. Altro's approach is designed to provide a low-barrier, secure, and practical entry point for credit building, opening up further access to personal loans, emergency funds, and larger financial products like car or home loans for its users.
What technology enables Altro's credit-building approach?
Altro's solution is built around a mobile-first experience that integrates with users' existing subscription services. The technology securely links to members' payment accounts, tracks subscription payments, and manages the $75 credit line dedicated to these transactions. The core innovation lies in reporting these payments, typically not considered by credit bureaus, to help users build credit histories. This approach leverages both financial data connectivity and credit reporting infrastructure to serve an underserved demographic.
Who uses Altro?
Altro mainly targets individuals in the U.S. who are new to credit or have limited credit history—especially women and people of color. These groups have historically faced barriers to credit access, and Altro's model is designed to serve them by transforming everyday subscription payments into an opportunity for financial advancement. The platform is accessible to anyone looking to build or repair their credit, without the traditional hurdles often associated with credit cards or loans.
Who are Altro's competitors?
Altro operates in the fintech and consumer finance space, particularly in the niche of credit building for those with little or no credit history. Key competitors and alternative solutions include:
- Capital One: Offers credit cards designed for individuals with no credit history.
- Mastercard: Provides credit-building products for people new to credit.
- Citi: Features guides and products for building credit from scratch.
- Discover: Issues secured and student credit cards for those with limited or no credit.
- Bank of America: Offers credit cards and advice for building credit history.
While these incumbents offer various tools for establishing credit, Altro's unique value lies in its focus on subscription-based credit building and its commitment to underserved populations.
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