Esusu Raises $50m To Boost Rental Credit Services

Esusu, a financial technology platform that helps renters build credit, announced on Thursday that it has raised $50 million in a Series C funding round, bringing its total capital raised to more than $200 million.

The New York–based company said its platform is available for more than 5 million rental units nationwide, covering 12 million residents and $100 billion in annual gross lease volume. Esusu partners with 65% of the country’s largest landlords, including Blackstone, Morgan Properties, Invitation Homes and TruAmerica.

The funding round was led by Westbound Equity Partners, with participation from the Geraldine R. Dodge Foundation, Blue Meridian Partners and “strategic” family offices, the company’s press release explained.

“Esusu was built on a simple principle: economic mobility should be accessible to all,” company co-founders and co-CEOs Wemimo Abbey and Samir Goel said in a statement. “This Series C reflects the market’s conviction that rental data is core infrastructure for the financial system.”

Esusu said it will use the new capital to scale three business lines: Rent Reporting as a Service (RaaS), Esusu Pay and Rental Data for Underwriting.

The company’s Rent Reporting as a Service product has seen increased adoption, including a recent integration with Zillow. “Esusu’s leadership in rent reporting makes them a natural partner,” said Michael Sherman, senior vice president at Zillow Rentals.

Esusu Pay allows renters to spread monthly rent payments across two installments. Landlords say the flexibility reduces rent stress for tenants.

The Federal Housing Finance Agency (FHFA’s) rental-data policy change is expected to boost demand for verified rental information. Esusu said renters on its platform have already unlocked more than $30 billion in mortgages through improved credit profiles.

“With our partners behind us, we are scaling solutions that serve as the bedrock of the American Dream,” Abbey and Goel added.