Boom raises $4.5 million

Fintech startup Boom Pay has raised $4.5 million in a seed round led by Starting Line, with participation from Clocktower Technology Ventures, Company Ventures, Gilgamesh Ventures, and Plaid co-founders William Hockey and Zachary Perret.

Founded in 2020 and launched in 2021, Boom allows renters in the US to build credit using their rent payments. The startup says that it reports payments to all three credit bureaus – Experian, Equifax, and TransUnion.

Boom also allows users to find rentals and it is working on a feature that will enable renters to split their rent payments.

The startup, which claims to have 15,000-20,000 subscribers, has secured partnerships with major industry players such as Apartment List, and Progressive.