Esusu, a U.S.-based fintech that is helping individuals save money and build credit, announced on Wednesday it secured $2.3 million in seed extension bringing total capital raised to $4 million. Participating investors in the investment round included Acumen Fund, Concrete Rose Capital, Global Good Fund, Impact America Fund, Next Play Ventures, and Zeal Capital Partners.
“Esusu’s groundbreaking 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 attract tenants, reduce turnover, and improve collections to increase their operating income.”
Esusu noted it is currently operating in more than 30 states and covers over 200,000 rental units. Esusu Co-Founders, Abbey Wemimo and Samir Goel, stated:
“Our fundamental belief is that where you come from, the color of your skin or your financial identity shouldn’t determine where you end up in life. We are privileged to join forces with world-class investors to address these systemic issues through the innovative use of data.”
Wemimo and Goel then added that Esusu has a “unique opportunity” to challenge the status quo by using its platform to dismantle barriers to housing for working families and eliminate the racial wealth gap.