Michael Broughton’s innovative Altro app is changing the game for credit building, offering a unique solution for diverse communities to enhance their credit scores through recurring payments. This financial empowerment tool is particularly significant for Black individuals who have historically faced credit discrimination, leading to higher interest rates and financial challenges.
Altro: A new path to credit accessibility
Altro, meaning “other” in Italian, simplifies credit and values the hustle of its members. By leveraging subscription payments and rent checks, users can boost their credit scores, paving the way for major future purchases. Broughton, who encountered credit difficulties while at USC, is passionate about making every payment count and providing a platform for financial growth.
From corporate scout to credit innovator
Before founding Altro, Broughton honed his skills at Sequoia Capital, learning the intricacies of company development and financial strategy. His journey from a corporate environment to creating his own path is a testament to his entrepreneurial spirit and dedication to financial inclusion.
Forbes recognition and venture success
Recognized by Forbes in their “30 Under 30” list, Broughton’s consumer tech achievements with Altro have broken barriers in the credit industry. Having raised over $18 million, his success story is an inspiration to many aspiring entrepreneurs.
A personal mission turned professional
Broughton’s own experience with a missed student loan payment sparked the creation of Altro. This personal challenge transformed into a mission to assist others facing similar financial hurdles, demonstrating how adversity can lead to innovation.
Leadership and community impact
Now a member of the Board of Directors for USC’s Credit Union, Broughton continues to influence financial strategies and uplift community members. His commitment to breaking down financial barriers extends through Altro’s podcast, sharing stories of those who are achieving their financial goals.
Michael Broughton’s journey from a corporate scout to a celebrated entrepreneur and advocate for financial empowerment is a beacon of inspiration. Altro stands as a symbol of hope and progress for underrepresented communities, offering a practical tool for credit building and financial success.
