Local fintech company Perpay was recently recognized for its social impact on its employees and customers.
Perpay, which makes products that help users manage payments and build credit, announced today that it received a B Corp certification from the nonprofit B Lab. After going through a yearlong process, the company was officially certified this May.
B Lab evaluates for-profit companies on their social and environmental impact, as well as how they run the company, according to Allison Riva, chief of staff at Perpay. The scoring process — which B Lab recently updated after criticism of its system — looked at Perpay’s impact on its customers, but also on the community and its employees, taking into account benefits like 401(k) matching and healthcare.
As the company continues to grow, the hope is that having the official certification will help it attract new talent, DiMarco said. Specifically, the startup hopes to find more fresh grads who care about the ethics and impact of the company they work for.
When the company raised its Series A round in 2023, it was evaluated for impact by its investor L Catterton, which prompted it to take a closer look at its overall impact, Chris DiMarco, founder and CEO of Perpay, told Technical.ly.
“Every increased customer we get, we have more impact,” DiMarco said. “We’re not making a sacrifice to our business plan for our customers.”
