Michael Broughton, Altro - The Fintech Series
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Michael Broughton, Altro - The Fintech Series
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About this listen
In this episode, we are joined by Michael Broughton, Thiel Fellow and Founder of Altro, a Y Combinator Class of 2020 startup backed by Pendulum, Marcy Ventures, Citi Ventures, Black Capital Fund, Concrete Rose Fund that uses recurring monthly expenses, including rent and subscriptions like Netflix or Spotify, to build one’s credit. While attending USC, Michael was denied a $10k loan needed to cover the remainder of his tuition due to family finances and a lack of credit history. This frustrating catch-22 inspired Michael to create Altro, a business focused on financial inclusion. In this insightful conversation, we discuss the potential of innovation to address financial inclusion, the importance of personal storytelling in pitching investors, the power of mentors and human capital scaling, and how to separate hype from execution in a new era of scarce capital. Tune in as we cover Michael’s journey from his upbringing in Korea and Japan growing up in a military household, his admission to USC and Altro’s initial breakthrough with Marcy Ventures that encouraged him to drop out to pursue his entrepreneurial calling.