Jay-Z and his Marcy Venture Partners (MVP) company have made a key investment in a start-up financial technology company, Perch Credit.
Founded in 2019, the Los-Angeles based free credit score-building business, were co-founded by CEO Michael Broughton and CTO Ayush Jain to help young adults quickly develop good credit scores by tapping into non-traditional data points.
The start-up recently closed its seed investment valued at $2.5m [€2m], launching a new app in the process. MVP are helping Perch Credit to advance as a company, providing automated credit score building and various financial and educational services.
In connecting with the industry, the firm has also cemented Broughton and Ayush to establish new fintech solutions specifically created to help young recording artists.