Bloom Credit, a FinTech company specialising in modern credit data infrastructure and consumer permissioned data services, has secured a major partnership with Navy Federal Credit Union, the largest credit union in the United States.
The company has also raised $10.5m in a growth investment round led by Crosslink Capital. Existing backers Allegis Capital and Commerce Ventures returned for the round, alongside new investor CT Innovations.
Founded to modernise the infrastructure behind credit reporting, Bloom Credit offers platforms that make alternative credit data more accessible and actionable. Its flagship product, Bloom+, allows banks and credit unions to report a consumer’s recurring payments—such as rent, utility, and telecom bills—as tradelines to major credit bureaus, helping build credit profiles beyond traditional credit usage.
Navy Federal Credit Union has chosen to embed Bloom+ as a new feature within its checking accounts, offering more than 14 million members a path to improved credit reporting through their existing financial activity.
Bloom Credit CEO Christian Widhalm said, “Navy Federal understands the value of consumer permissioned data to help their members build a more accurate, comprehensive and complete credit profile. Prior to this moment, their members have had to rely on credit use to build credit worth. Now, with Bloom+, the member’s checking account can provide a meaningful pathway to credit and financial access. We are equally thankful for Crosslink and our investors who share our vision for innovating the infrastructure of modern credit data.”
Crosslink Capital venture partner Jim Feuille added, “Bloom+ is a game changer and the size and scale of the partnership with Navy Federal reflects that. It delivers value for consumers, visibility for lenders and exceptional growth potential for a product that is much needed in the market.”
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