FinTechFunding

Perch: Raises $2.5M in Seed Funding

  • Perch, a Los Angeles, CA-based startup that provides an app for people to build credit through nontraditional payments, closed its $2.5m seed funding round
  • Backers included Marcy Venture Partners, Citi, Softbank Opportunity Fund, Concrete Rose, and Village Capital
  • The company intends to use the funds to continue to expand its reach
  • Perch provides an app that allows users to build credit using the recurring expenses they are already paying for, such as Netflix, Hulu
  • By using a person’s existing payments and subscriptions to demonstrate responsibility to U.S. credit bureau partners, Perch can establish a person’s credit history
  • With the app, users can see an improvement in their credit score in less than 30 days compared to the typical 6-8 months it takes, on average
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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