Arro Raises $10M Seed Led by Crosslink Capital

Arro, a fintech company based in Los Angeles, has successfully raised $10M in Seed funding, with Crosslink Capital leading the round. Other investors participating in this funding include Bling Capital, BAM Ventures, Global Founders Capital, and WTI.

The raised funds will enable Arro to continue developing its credit platform, which is designed to provide U.S. consumers with access to responsible credit options and financial literacy training. Arro aims to serve individuals regardless of their credit history by utilizing a proprietary underwriting model that leverages alternative data.

The company's unique offering consists of a low-interest credit card paired with a gamified app experience that teaches users how to manage their credit responsibly. Arro's customer-first approach allows for the approval of nearly any U.S. consumer based on their income, promoting financial health while minimizing the impact of the traditional FICO system.

Founded in 2021, Arro is focused on reshaping the credit landscape, especially for the 150 million Americans currently locked out of mainstream credit. With a partnership with Equifax, the company uniquely avoids the need for hard credit inquiries during the application process, ensuring that users can engage with their services without negatively affecting their credit scores.

Ryan Duitch serves as the Co-founder and CEO of Arro, working alongside Co-founder and COO Luke Pelullo to drive the company's mission forward.

"Many financial institutions make money from people overspending or going into debt," said Ryan Duitch. He emphasized Arro's commitment to addressing the root causes of financial hardship through education and empowerment, contrasting the company’s approach with others focused merely on short-term profits. Arro aims to build knowledge and healthier financial habits among its users, setting them up for long-term success.

Company	Arro
Round	Seed
Amount	$10M
Lead Investor	Crosslink Capital
Investors	Bling Capital, BAM Ventures, Global Founders Capital, WTI
Founders	Ryan Duitch, Luke Pelullo
Sectors	fintech