title: What is Altro? - Company Overview & Details date: 2023-10-05 author: "Jordan Mitchell" avatar: "default-avatar" description: "Explore the innovative financial platform Altro, founded in 2019, that helps users build credit through recurring payments and subscriptions." tags: ["Finance", "Credit Building", "Startups"] category: "Finance" readingTime: "6 min read"
What is Altro? - Company Overview & Details
In today’s financial landscape, building and maintaining a good credit score is essential for securing loans, mortgages, and even rental agreements. Enter Altro, a financial platform that leverages recurring payments and subscriptions to help individuals build credit in a seamless and innovative manner. Founded in 2019 and headquartered in Los Angeles, California, Altro is making strides in democratizing access to credit for a broader audience.
Who Founded Altro?
Altro was founded by Michael Broughton, a visionary entrepreneur dedicated to reshaping how credit scoring works. With a background in finance and technology, Broughton recognized the challenges many individuals face when trying to establish a credit history, particularly those without access to traditional credit products.
Who are the Key Executives at Altro? - Leadership Team
At the helm of Altro is a team of seasoned executives who bring a wealth of experience to the company:
Chief Executive Officer (CEO) of Altro
Michael Broughton
LinkedIn Profile
As CEO, Michael Broughton leads the strategic vision and operations of Altro, steering the company toward its mission of enabling more people to improve their creditworthiness through the integration of everyday payments.
Chief Technology Officer (CTO) of Altro
The CTO position is pivotal for the technological advancement of Altro, although specific details about the individual in this role were not disclosed. The CTO is responsible for overseeing the development of the platform’s technology, ensuring it meets the needs of users while also remaining secure and scalable.
Altro Company Details & Key Information
Where is Altro located?
Altro is headquartered in the vibrant city of Los Angeles, United States—a hub for innovation and technology.
How many employees does Altro have?
Currently, Altro employs between 401-500 employees, reflecting its growth and commitment to expanding its services.
When was Altro founded?
Altro was established in 2019, making it a relatively young player in the financial technology sector.
Altro Official Website
To learn more about Altro and its services, visit the official website.
How Does Altro Work?
Altro operates on a simple yet effective premise: it allows users to build their credit profiles by reporting recurring payments—such as rent, utilities, and subscriptions—to credit bureaus. Traditional credit scoring models often overlook these critical payment behaviors, which can be detrimental to individuals who may not have access to traditional credit products.
Here’s how it works:
- Sign-Up: Users create an account on the Altro platform.
- Link Payments: Users link their recurring payment accounts, such as rent and digital services, to Altro.
- Credit Reporting: Altro reports these payments to the major credit bureaus, helping users build their credit history over time.
- Monitor Progress: Users can monitor their credit scores and receive personalized tips on improving their credit health.
This model not only helps individuals establish credit but also promotes responsible financial behavior by encouraging timely payments.
Why is Altro Important?
Accessibility
One of the most significant advantages of Altro is its accessibility. Many individuals, particularly young adults and those new to credit, often struggle to establish a credit history. Altro bridges this gap by providing an avenue for these individuals to build credit using their existing payment habits.
Financial Education
In addition to credit building, Altro emphasizes financial education. The platform provides users with insights and tips on managing their finances, understanding credit scores, and making informed financial decisions.
Impact on Financial Inclusion
By allowing users to report non-traditional payment data, Altro is contributing to greater financial inclusion. This is particularly important for underrepresented communities that may have been historically marginalized by traditional banking systems.
Customer Testimonials
Altro has received positive feedback from users who have experienced significant improvements in their credit scores. Here are a few testimonials:
- “I never thought I could build credit without a credit card. Altro made it possible for me to improve my score just by paying my rent on time!” – Sarah T.
- “As a recent graduate, I struggled to find ways to establish credit. Altro allowed me to leverage my subscriptions, and I saw my score improve within months.” – Jason L.
Conclusion
Altro is revolutionizing the way individuals build credit by recognizing and utilizing the importance of recurring payments in everyday life. Founded by Michael Broughton and supported by a dedicated team, Altro is making significant strides in financial technology, promoting accessibility, education, and inclusion in the credit-building process.
As the landscape of personal finance continues to evolve, platforms like Altro are paving the way for a more equitable future, where everyone has the opportunity to achieve financial stability and success. Whether you are looking to build your credit from scratch or improve an existing score, Altro offers the tools and resources necessary to empower you on your financial journey.
For more information and to start building your credit today, visit Altro’s official website.
