Partners Include First Round Capital, L Catterton, and Fortress Investment Group
Perpay, a credit-building company that uniquely utilizes payroll direct deposit to help consumers with non-prime credit scores establish healthy payment behavior, today announced that it has been certified as a B Corporation by the non-profit B Lab. Perpay joins the less than 0.01% of U.S. businesses that are dedicated to using business as a force for good, scoring more than 35 points above the 80 required on the rigorous B Impact Assessment. Perpay is proud to be the only credit-building B Corp available across the U.S.
Linking Payments to Paychecks
For Perpay, the certification is more than a badge. It's a reflection of the company's founding mission. Since 2017, Perpay has worked to provide a better option for the nearly 100 million Americans whose credit history often excludes them from conventional credit options. Many consumers with subprime credit scores are denied access to affordable credit, and the few options available often come with high costs that trap them in deeper debt.
Perpay takes a different approach by designing products that build lasting, sustainable payment habits. Instead of relying on traditional billing cycles that are difficult to manage and can create stress, Perpay aligns payments with consumer cash flow on payday. On top of this foundation, Perpay has built a suite of products: the Marketplace, where customers can shop and pay over time with no interest or fees; Perpay+, a service that reports payment history to all three credit bureaus; and the Perpay Credit Card, an unsecured card that offers 2% rewards and no upfront annual fee.
Building Healthy Payment Behavior
The company's offerings have delivered measurable benefits that have helped nearly half a million customers improve their financial stability by significantly improving repaymentbehavior and strengthening their credit history.
Perpay cardholders pay down approximately 40% of their balance each month, which is four times the industry average for deep subprime cardholders (9%) and more than twice the average for even prime cardholders (17%). As a result, customers keep more credit available and build a stronger history of on-time payments and lower utilization.
More than 90% of Perpay members start their journey with a VantageScore below 600. Within just three months of reporting, their credit scores improve by an average of 32 points, and 45% graduate to a higher credit band (i.e. subprime to near-prime). An independent analysis on credit score impact by Experian confirmed that Perpay drives the largest score migration for subprime consumers versus credit card alternatives.
“Perpay was built on the belief that people should have financial tools designed to help them succeed, not fall further behind,” said Chris DiMarco, CEO and Founder of Perpay. “Perpay's B Corp certification is a testament to the progress that our team has made and a commitment to continue helping Americans build healthier financial habits.”
Growing Momentum
Perpay's mission and momentum has attracted leading partners, including First Round Capital (Seed 2019), L Catterton (Series A 2023), and funds managed by affiliates of Fortress Investment Group (debt 2024). With the support of its partners, Perpay will further its ambition to help millions of consumers access what they need today, while building credit for tomorrow.
About PerpayPerpay is a mission-driven, B Corp-certified company that helps working Americans with non-prime credit scores pay over time for everyday purchases and build credit through automatic payments from their paycheck. Perpay's products are designed to help consumers reduce financial stress and expand economic access. For more information, visit www.perpay.com.
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SOURCE Perpay
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