To date, over 45 million Americans are credit invisible, ultimately exposing them to high-interest capital, limited access to homeownership, and wealth-building opportunities. Abbey Wemimo and Samir Goel co-founded Esusu to solve this problem based on their personal experiences of being credit invisible when their families immigrated to the United States. When they realized that rent does not count towards credit despite being the single largest monthly expense for most renters in America they knew they had to build a solution. Esusu ensures that renters get credit where credit is due.
Today, Esusu is the leading rent reporting platform that captures rental payments data and reports it to the major credit bureaus to boost renters’ credit scores while improving property performance for landlords. Esusu’s platform helps working families build credit with rent, thus providing a pathway to homeownership.
Over the past year, Esusu has experienced monumental growth spurred by industry adoption, new rent reporting regulations, and partnerships with the country’s largest property owners and operators. Esusu works with over 30% of the largest asset managers and property managers in the nation, including Goldman Sachs, Camden Property Trust, Mercy Housing, Related Companies, Winn Residential, and more. With recent investments from world-class athlete, businesswoman, and philanthropist Serena Williams, Esusu continues to double down on building the most comprehensive financial health platform in the market for low to moderate-income families.
“Esusu is really focused on credit building and creating pathways to financial inclusion for not only working families but for individuals as well,” said Serena Williams, Founder of Serena Ventures.
The Covid-19 pandemic caused a rise in unemployment, the greatest public health crisis in a century, and a decline in financial stability for millions. To respond to this crisis, Esusu quickly introduced zero-interest relief funds to help renters avoid eviction and, ultimately, homelessness. With renters nationwide owing over $70 billion in outstanding rental payments, demand from both renters and property managers has surged. Esusu’s zero-interest rent relief efforts continue to keep families in their homes while empowering them with rent-reporting and credit building benefits.
“Last year, of course, was the COVID-19 pandemic. It created an unemployment and housing crisis that left many renters struggling to make their rental payments on time, and they were often facing eviction. We saw Esusu respond immediately with rent relief efforts – creating zero-interest housing stability loans to address this problem head-on,” said Serena Williams.
As the housing industry grapples with limited access to government resources and expiring eviction moratoriums, providing renters and landlords with comprehensive tools and resources to foster financial stability for low to moderate-income families is Esusu’s top priority. After raising a Series A of $10 million, Esusu plans to scale its platform to more of the 100 million renters across the United States.
“Esusu is experiencing tremendous growth, and we remain steadfast with our focus on responding to the financial needs of the renters, property owners, and broader society,” said Abbey Wemimo and Samir Goel, Co-CEOs of Esusu. “ We are committed to providing the most comprehensive financial health platform in the market to eradicate evictions and credit invisibility for low to moderate-income families,” said Abbey Wemimo and Samir Goel, Co-CEOs.
Esusu is the leading financial technology platform that leverages data solutions to empower tenants and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows tenants to build and establish their credit scores while helping property owners increase revenue, lower evictions, and fill vacancies powered by differentiated data and insights. Founded in 2018, Esusu reaches over two million rental units across all 50 states in the US. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.