The Link Entertainment

Connecting.Curating.Creating The Culture

Jay-Z aids in launching new app allowing minorities to raise their credit with subscriptions

JayZ.-Michael-Broughton.-Perch-App.

Perch App

Share

Jay-Z is back at again investing into a new no-cost credit building app called ‘Perch’. Jay-Z and his company, Marcy Venture Partners (MVP) have invested $2.5 million into the new app. Perch will be a Los Angeles based credit building system that aims to help underserved communities boost their credit scores.

https://www.instagram.com/p/CI1FBEPHfAC/

The app will be a platform to help young adults to quickly build good credit scores by tapping into non-traditional data points.

Perch credit CEO, Michael Broughton, and CTO, Ayush Jain, will join forces with credit unions that will report recurring payments such as rent and subscriptions to monthly streaming services such as Netflix, Hulu, and Spotify.

Broughton, who is 22 years old, has a goal of helping 100,000 people and he was inspired to launch his product after spending most of his life overseas and not even being exposed to venture capital.

“Perch is leaning into its network…being connected to Marcy, Citi, Softbank and other leaders in this space, we are able to truly put our ear down and communicate with our potential users,” Broughton spoke to forbes. “There are so many people who need access to credit–from young artists to aspiring entrepreneurs–we want to help enable these people in a modern, free and fast way.”

Perch made its mark at the end of January and has secured many investment deals since. 

MVP, which was co-founded by Roc Nation co-founders Jay-Z and Jay Brown with venture capitalist Larry Marcus, is allowing them to grant access to free credit building and financial literacy content.

Michael Broughton and Ayush Jain are preparing to launch a YouTube series around the topic of financial inclusion and literacy, growing trust in new fintech products along the way.

About Author