JAY-Z is continuing to help minority communities.
The Hip-Hop mogul has become an investor in the Perch Credit App, which aims to boost the credit scores of those in underserving communities.
According to Perch’s website, it was founded by Michael Broughton and Ayush Jain which helps “users to log their recurring payments such as subscriptions or rent as credit history to improve their credit scores immediately.”
Broughton spoke about Perch Credit and it’s co-sign from JAY-Z in an interview with Yahoo Finance.“Yeah, definitely not easy. 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.”
In related news, the Brooklyn emcee recently sold 50 percent of his stake in Ace of Spades to LVMH. As well as teamed up with Twitter’s CEO Jack Dorsey to launch a $24 million fund to create Bitcoin in India and Africa.
Good looking out Jay!