Fintech Startup Esusu Raises $2.3M For Expansion

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Esusu Co-Founders Samir Goel and Abbey Wemimo

Esusu Financial, a New York-based Fintech Startup, has announced a $2.3 million seed extension bringing its total funding raised to $4 million.

Investors included Acumen Fund, Concrete Rose Capital, Global Good Fund, Impact America Fund, Next Play Ventures, and Zeal Capital Partners.

Esusu, which was was co-founded by Samir Goel and Nigerian born Abbey Wemimo,  is a leading platform designed to empower users to better save their income and obtain suitable housing.

Founded in 2016, Esusu is a team of 21 people. It partners with multifamily owners and property managers to report rental payment data into credit bureaus. In addition, the company pairs tenants who cannot afford rent with affordable loans to get back on their feet. This enables tenants to build credit while property owners can encourage on-time payments. Esusu currently operates in over 30 states and covers over 200,000 rental units.

To advocate equality, the co-founders intentionally secured a majority (65%) of the capital in this round from extraordinary Black and women-led venture capital firms.

According to the co-founders: “Esusu’s vision to use data to eliminate the racial wealth gap is driven by the role that credit and housing play in financial stability and wealth accumulation in the United States. 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

 

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