Now this is how you give back to the minority community. The mogul Jay-Z is helping the minority community advance financially. He has become a key investor in the Perch Credit App, which aims to boost the credit scores of those in undeserving communities.
The Apps website, was founded by Michael Broughton, and Ayush Jain, Perch allows users to log their recurring payments, like subscriptions or rent as credit history to improve their scores immediately.
Since being launched in 2019, the company has secured a $2.5 million investment.
Marcy Venture Projects (MVP), which was co-founded by Jigga, Jay Brown and venture capitalist Larry Marcus, will allow Perch access to free financial literacy and credit building content.
According to Yahoo! Finance Broughton spoke about how landing a key investor like Jay-Z was not easy. “Yeah, definitely not easy,” he said. “I came from a background where I was never even exposed to venture capital or working with investors. And it wasn’t until YC and meeting Michael that I really started learning how to get engaged, how to start talking to VCs and start raising capital. I got told no over 100 times before we got our first check.”
Courtesy of Revolt