US-based Esusu, an online financial platform for maximizing savings, accessing capital, and building credit and economic identities, raised USD 130 million on 27th January 2022.
Investors: The investment round was led by SoftBank Vision Fund 2 backed by new investors, including Jones Feliciano Family Office, Lauder Zinterhofer Family Office, Schusterman Foundation, SoftBank Opportunity Fund, Related Companies, and Wilshire Lane Capital. In addition, existing investors Concrete Rose Capital, Equity Alliance, Impact America Fund, Motley Fool Ventures, Next Play Ventures, Serena Ventures, Sinai Ventures, and TypeOne Ventures participated in the round to hold their stakes.
Purpose of funding: Using the funding, the startup plans to scale and build the most comprehensive platform dedicated to financial health for renters and owners. It also plans to hire fresh talent and partnerships to achieve this goal. It will invest in product innovation and building the most comprehensive financial health platform on the market.
About Esusu
Founded in 2018 by Abbey Wemimo, Jeph Acheampong, Robert Henning, and Samir Goel, Esusu is located in New York, US. Esusu is an online financial platform for maximizing savings, accessing capital, and building credit and economic identities. The startup’s platform helps renters develop their financial identities, attain financial stability, and, ultimately, create wealth. The startup empowers tenants to establish their credit score while property owners increase their income by attracting tenants, reducing turnover, and improving collections. The startup provides tenants with the tools they need to establish credit successfully. The startup aims to build a world without homelessness and evictions. Over 2.5 million rental units are serviced by the platform across all 50 states, providing optimum outcomes for both the landlord and the tenant.
The startup currently works with one of the largest landlords on the National Multifamily Housing Council (NMHC) list. It has partnership with major institutions including BH Companies, Camden Property Trust, Cushman & Wakefield (formerly Pinnacle), GoldOller, Goldman Sachs Asset Management, Harbor Group, L+M Development Partners, Jonathan Rose Companies, Morgan Properties, Related Companies, Starwood Capital Group, Stoneweg, Winn Residential, and more.
What the founder has to say
“There are millions of Americans who are considered credit invisible, which means they have no credit score or financial identity. [Esusu] can be a life-changing opportunity for them. It can be the difference between being a subprime borrower and a prime borrower, which can result in hundreds of thousands of dollars saved in interest over their lifetime,” said Samir Goel, co-founder at Esusu.
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