Here's the 14-page pitch deck a startup helping people build credit through rental payments used to raise $4.5 million from Clocktower VC and Plaid's cofounders
, which fell victim to supply shortages, soaring interest rates, and inflation.
"I started helping them on their housing, find a new rental, build credit, get things removed from their credit report, access rental assistance, things like that," Whiting told Insider. He added that while there are competitors in the space, Boom's subscription pricing — $24 a year — is as much as 70% lower than its peers, like RentReporters, Rental Karma, and LevelCredit. That's partly because of the startup's lean team of 13 people and its heavy reliance on automation. Everything from pulling in the data to formatting it and sending it to the bureaus is all automated.
Whiting and Moizik have ambitions to grow Boom beyond rent payments, something Whiting said may seem like a small feature but that is a foundational piece to a much bigger plan. Eventually, Boom wants to partner with other fintechs, like neobanks, and take advantage of their bigger distribution channels.
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