This archive report was first published on 2 September 2019.
On September 2, 2019, Esusu, a financial technology platform, secured a $1.6 million seed round led by Acumen Fund, with participation from Sinai Ventures, Kleiner Perkins, Katapult Accelerator, Plug and Play Tech Center, Global Good Fund, Temerity Capital Partners, and prominent angel investors.
Co-founded by Abbey Wemimo and Samir Goel, Esusu helps individuals establish and build credit through its app. The platform has been at the forefront of rent reporting, partnering with leading public and private sector housing developers to report rent payment data to credit bureaus.
“With the support of our strategic investors and partners, Esusu is poised for unprecedented growth and ready to scale to serve the millions of Americans struggling to save and create a financial identity,” said Abbey Wemimo, Co-Founder and Co-CEO of Esusu.
Esusu has made significant strides in 2018, debuting its peer-to-peer savings app on iOS and Android. This year, the company launched Esusu Rent, its signature rent reporting platform, giving renters credit for making monthly payments.
As impact investors, Acumen Fund looks for entrepreneurs tackling frictions in the financial services industry. Eliza Golden, Portfolio Manager of Acumen, stated, “We’re excited by Esusu and the vision of co-founders Samir and Abbey to build better tools for traditional financial services industry players.”
Esusu plans to use the new funds to enhance its rent reporting platform, onboard new partnerships, and extend its reach. The company aims to grow its team, hiring in key leadership roles across sales, technology, and operations.
