Perch rallies $2.5m seed

Perch, a credit building platform, has secured $2.5 million in seed funding.

Perch, a credit building platform, has secured $2.5 million in seed funding. The investors included Marcy Venture Partners, Citi, Softbank Opportunity Fund, Concrete Rose and Village Capital.


LOS ANGELES, Dec. 21, 2020 – Perch, a no-cost platform that helps people build credit through nontraditional payments, has closed its seed investment round of $2.5 million.
Notable investors in the round include Marcy Venture Partners, Citi, Softbank Opportunity Fund, Concrete Rose and Village Capital.

“Too many 18-24-year olds lack access to the right financial tools and the impact of this problem compounds for years, sometimes decades, into adulthood,” says Sean Mendy, Managing Director at Concrete Rose. “The Perch team is building something exciting that will close this significant societal gap. Michael is an inspiring and exceptionally talented founder motivated by his lived experience, and we’re looking forward to supporting him and Ayush as they build disruptive products to meet the needs of this growing and underserved Gen Z market.”

The seed funding will help Perch achieve its first major milestone: helping more than 100,000 people build their credit score. Step one of reaching this goal is already underway, with the Perch Beta officially launching on iOS today.

“Michael and Ayush, the founders of Perch, are both tenacious and adaptive entrepreneurs working to solve a really important problem in the financial wellness space for Gen Z,” said Perch investor Larry Marcus, co-founder and Managing Director at Marcy Venture Partners.
The Perch app allows users to build credit using their recurring expenses they are already paying for, such as Netflix, Hulu, Spotify or rent.

“Until now, it’s been nearly impossible to build credit without getting a credit card,” says Michael Broughton, Perch co-founder and CEO. “The trouble with that is you’re generally not going to get a credit card without having established credit already. This is the kind of no-win scenario that Perch is hoping to help young people, especially young people of color, overcome easily.”

“With educational tools, credit-building services, and a seamless process built with users in-mind, Perch is bringing an entirely new way of doing things to a slow-evolving industry,” Broughton explains.

By using a person’s existing payments and subscriptions to demonstrate responsibility to U.S. credit bureau partners, Perch can quickly establish a person’s credit history. With Perch, 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, to build your credit using a credit card or loan.

“Everyone needs to take control of their credit so they can live better, especially those who have been historically marginalized from the credit space and have had little institutional support,” says Broughton.

Perch is free, simple and seamless and signing up for the app takes just a few minutes.
Perch is currently onboarding users into the app in weekly cohorts. To sign up for Perch, visit or download the app directly on iOS from The App Store.

About Perch
Perch combats the frustrating process of credit building by using nontraditional data such as rent and other recurring expenses to help establish or enhance one’s credit score. Perch has something for anyone working on their financial goals – from saving money to learning the finer points of financial literacy – and it is all for free. Founded in 2019, the company is based in Los Angeles. Learn more about how Perch Credit is removing the barriers to credit building at