Esusu raises $50M at a $1.2B valuation to help millions of renters build credit through verified rental data

Esusu, a black-owned fintech startup focused on expanding credit access for renters, has secured $50 million in Series C funding, bringing its valuation to $1.2 billion. The round was led by Westbound Equity Partners, with participation from the Geraldine R. Dodge Foundation, Blue Meridian Partners, and several strategic family offices.

The raise comes at a time when the U.S. credit system is being pushed to acknowledge a simple truth: renters pay more than $1.4 trillion a year, yet most of that history never appears on a credit report.

That gap has created a vast population of “credit invisible” Americans. As Esusu co-founder and CEO Wemimo Abbey explained on CNBC, “110 million people in America rent … and less than 10% of that data shows up on their credit score.” Without that record, renters who pay on time every month rarely see any benefit. Esusu steps in by reporting verified rent payments to the major credit bureaus, giving millions a chance to build a history that landlords, lenders, and mortgage underwriters can actually see.

The impact is already visible. Over 50 million Americans lack a credit file with Experian, Equifax, or TransUnion, yet renters using Esusu’s system have unlocked more than $30 billion in mortgages. For many, this has been their first opportunity to qualify for traditional loans.

With $50M Round, Fintech Startup Esusu Hits Unicorn Status Again as Rental Data Goes Mainstream in U.S. Finance

Investors say the company’s work is reshaping financial access. “Esusu is fundamentally reshaping how the financial system can work for everyone,” said Sean Mendy of Westbound Equity Partners, the lead investor in the round. “When people are given the tools to rise, they do.”

Since its inception seven years ago, Esusu has grown into one of the largest rent-reporting networks in the country. Its platform now covers more than five million rental units, touching about 12 million residents and supporting nearly $100 billion in annual lease volume. The company works with 65% of the largest commercial real estate owners and operators, including Bell Partners, BH Management, Blackstone, Cortland, Invitation Homes, Jonathan Rose Companies, Kayne Anderson, Morgan Properties, Nuveen Real Estate, Pretium, Related Companies, TruAmerica, and WinnCompanies.

The new funding is aimed at three major initiatives. The first is its “rent reporting as a service” API, which enables banks, fintechs, and credit unions to integrate Esusu’s rent-reporting tools directly into their platforms. Through a new partnership with Zillow, that reach now extends to 228 million monthly active users. The company is also preparing to launch Esusu Pay in 2026, giving renters the option to split their monthly rent into installments that align with their income schedule—a long-standing source of friction for millions of households.

The third area of focus ties directly into a national policy shift. The Federal Housing Finance Agency recently formalized the inclusion of rental data in mortgage underwriting. That move requires verified rental and identity data, placing Esusu — one of the largest verified rental data aggregators in the country — in a strong position. The company has already formed partnerships with Fannie Mae and Freddie Mac to expand the number of units reporting rental data for credit purposes. Its acquisition of Celeri Labs earlier this year adds identity verification capabilities that will support “Esusu Identity Services,” a suite of AI-driven tools the company describes as the building blocks of a financial identity for renters.

The company’s mission is rooted in personal experience. Abbey and co-founder Samir Goel both grew up in immigrant families that faced steep financial barriers. As Abbey shared in a previous interview, the lack of a credit score forced his family to turn to a predatory lender charging more than 400% interest. “My mother sold my dad’s wedding ring. We borrowed money from church members, and that’s how we got started.” That lived experience continues to shape Esusu’s approach to renters who face similar barriers today.

Real estate operators say the impact on residents is already clear. “Esusu has been a tremendous partner for Kayne Anderson over the years, empowering tens of thousands of our renters to pursue their financial aspirations,” said Amanda Nunnink, Senior Managing Director at Kayne Anderson. Others describe rent reporting as a simple shift that removes long-standing blind spots. “We have been working with Esusu since 2020 and have seen what their rent reporting platform can do for Related Affordable residents,” said Jeff Brodsky, Vice Chairman of Related Companies.

With the new round, Esusu is reinforcing its position in a sector undergoing meaningful change. Rental data is becoming a standard part of credit scoring and mortgage underwriting, Esusu Pay is creating more financial flexibility for renters, and the company’s API is embedding rent reporting directly into banks and fintech platforms. The goal is to build an economic infrastructure that reflects how Americans actually live — millions renting, paying month after month, and finally getting credit for it.