Company Nearly Doubles Client Base in Q1 Amid Surging Demand for Its Credit Data Platform
Bloom Credit, an API platform company that simplifies the way businesses integrate with the credit bureaus, announced ALTRO (formerly Perch Credit), Eve Financial, and Upwardli among more than a dozen new clients added in Q1. Integration with Bloom Credit will provide these companies the tools necessary to easily launch new credit products in a fraction of the time it has traditionally taken.
“This tremendous momentum is the result of Bloom Credit’s commitment to simplifying the interconnectivity of credit data,” said Christian Widhalm, CEO of Bloom Credit. “These new clients represent a very large segment of fintech innovators and developers that have not been well-served by the traditional credit industry due to their limited resources.”
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“We’re proud to partner with Bloom Credit, which by far has the best solutions in the credit data space,” said Michael Broughton, CEO of ALTRO. “Their support and knowledge are second to none and we’ve had a fantastic experience working with their team, allowing us to focus our internal resources on growing our business.”
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Among the products clients can access on Bloom Credit’s API platform include Furnish by Bloom Credit™, launched in August 2021 to further help lenders comply with credit reporting requirements, curtail credit reporting errors and reduce the negative impact these errors cause consumers. It also helps non-bank lenders—who may not be currently furnishing credit data—avoid time-consuming and complicated integrations with the major credit bureaus while strengthening the underlying credit reporting system for consumers at large.
Bloom Credit has raised $17M in total funding, including $13M in October 2020 led by Allegis NL, along with Resolute Ventures, Slow Ventures, and Commerce Ventures, and a previously unannounced $3M from angel investors that included Better Tomorrow Ventures’ Sheel Mohnot and Jake Gibson, Acorns Founder Jeff Cruttenden, Marqeta Founder Jason Gardner, former Vice-Chair of Personal Capital Mark Goines, and former President of Prosper Ron Suber.
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