News Clippings

#FinancialInclusion / The 21 year old entrepreneur building a community that builds credit

Growing up in a military family of nine, Michael Broughton spent most of his life in the vibrant communal cultures of Okinawa and Seoul. There he learned the importance of nurturing a family and community network even within the fast-paced realities of business. Upon his return to the U.S, Broughton observed a stark contrast to his previous existence… “It made me wonder if there was a way to build the concept of community inside of the business world...” 

The 21 year old entrepreneur and self-professed anime nerd soon found the opportunity to establish a community by co-founding the credit building app Perch which offers young adults the chance to build their credit through rent payments or with subscriptions to Netflix, Hulu and Spotify among others… “We wanted to focus our product in a way that anyone can start building their credit no matter who they are, despite their social background, their ethnicity, or where they’re from...” 

Last month Perch ended the year on a high note by closing its seed funding round of $2.5 million with investors from Marcy Venture Partners, Citi, Softbank Opportunity Fund, Concrete Rose and Village Capital.

… In the near future, Broughton hopes to buy his parents their own house, and to end up in Forbes’ 30 under 30. In the long run, he wants to continue to work towards attaining the financial stability of vulnerable communities.

[tags FinancialInclusion]