Los Angeles-based FinTech firm Arro has raised $10m in a seed funding round headed by Crosslink Capital.
Also taking part in the round was Bling Capital, Global Founders Capital, WTI and BAM Ventures amongst others.
Arro claims it is bringing fair credit access to everyone, regardless of credit score. The company uses behavioural finance and financial education to help people successfully grow their credit over time as they save, budget and set financial goals.
The Arro platform aims to approve nearly any US consumer for its low interest credit card, regardless of credit history, based on income and other alternative data.
Users of the Arro service can increase their credit lines and decrease interest rates by completing personal finance activities on how to use credit responsibly, reach savings goals, budget effectively amongst other things.
OatFi, a New York-based company that provides working capital infrastructure for B2B payment platforms, recently raised $8m in a seed funding round.
OatFi provides end-to-end infrastructure for B2B payment platforms to embed and monetise working capital tools. The company said it is committed to levelling the playing field for SMBs while enabling SaaS platforms to better distribute credit solutions without taking on risk.
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