Rent reporting startup Esusu wins $ 10 million
FinTech Rent Reporting Esusu has landed a $ 10 million investment in its Series A cycle, according to a blog post published Friday (July 16) by co-founders and co-CEOs Abbey Wemimo and Samir Goel.
The company’s rent reporting platform ingests rental payment information and delivers that data to major credit bureaus to “improve credit scores, empower residents and improve property performance for owners,” according to the message.
“… For tenants, rent is the most important monthly expense, often accounting for 30-50% of a household’s income. Historically, rent did not count for building up credit. At Esusu, we challenged this premise and built a platform for rent payments to count for credit to help working families build financial resilience, ”Wemimo and Goel said in the post.
Esusu said in the announcement that it is the largest rental reporting provider in the United States, working with 30% of the top landlords on the National Multi-Housing Council’s list.
“We look forward to continuing our mission, championing financial access, and investing in strategic partnerships and deeper relationships with our clients,” Wemimo and Goel said in the post.
Esusu integrates staff across multiple departments, such as sales, account management, human resources, marketing, operations, product, data science and engineering, according to the announcement.
As PYMNTS previously reported, consumers today believe that a strong credit score and an established credit history are essential to getting credit cards and loans. PYMNTS research has determined that almost two-thirds of consumers want to improve their credit rating, but don’t know how to do it. This even includes people with above average credit scores. In one case, people with above-average credit scores don’t know if one or more lines of credit are better for their scores, and don’t know how spending near their credit card limit affects their credit cards. odds.