API platform company, Bloom Credit secured $13M in Funding

Bloom Credit, a New York-based API platform company for businesses to integrate with credit bureaus, has now secured $13 million in funding.

Bloom Credit is founded by Matt Harris and Erin Allard in the year 2016. It is an API platform company for businesses to integrate with credit bureaus for access to scores, monitoring, and furnishment products. By offering all bureau and score-related products via a single API that integrates with all three credit bureaus, Bloom Credit allows unified access to request or submit credit bureau data to enable applications, which can improve consumer creditworthiness.

Co-founder and CEO of Bloom Credit, Matt Harris, said, "It took years for Apple and Chime to launch their credit products, and very few companies can afford the time and money needed to set up all parts of a lending program. Today's investment in Bloom Credit will go to accelerating the growth of our team to support demand for our products."

Dan Rosen, Founding Partner of Commerce Ventures, said, "The financial infrastructure market has enabled the explosive growth of neobanks and other advances in deposit-related personal finance. By unlocking access to the credit bureau ecosystem, Bloom Credit can enable developers to build the next wave of FinTech innovation by fostering better, fairer access to credit."

Allegis NL, led the funding round with participation from the Resolute Ventures, Commerce Ventures, and Slow Ventures.

The company as of now has plans to use the new funds to accelerate the growth of the team and to support demand for its products, notes the announcement.