Fintech Firm Esusu Raises $130 Million

The financial technology services provider, Esusu became the latest fintech to achieve the status of a unicorn after the company closed its $130 million funding round. With that, Esusu became one of the first black-owned startups to receive unicorn status.

The investment round, which was led by SoftBank Vision Fund 2, saw participation from some of the world’s leading investors, including Jones Feliciano Family Office, Lauder Zinterhofer Family Office, Motley Fool Ventures, Schusterman Foundation, SoftBank Group's SB Opportunity Fund and Wilshire Lane Capital.

With the latest funds, the fintech platform is planning to enhance its operations. The company aims to triple its employees. Founded in 2018, the financial technology company has seen a surge in demand from customers during the last few months.

“We founded Esusu with the vision of using data to bridge the racial wealth gap and create more equitable financial opportunities for low-to-moderate-income households in this country,” said Abbey Wemimo and Samir Goel, the Co-Founders of Esusu. “By establishing and improving credit scores, we are strengthening financial identities while empowering individuals, families and communities to meet their long-term financial goals.”

Fintech Funding

Global venture capital firms poured billions of dollars into financial technology firms in 2021 amid a massive transformation in the global financial services industry. Esusu leverages data solutions to empower residents and improve property performance. According to the company, Esusu is now available in more than 2.5 million homes.

“By using alternative data to enhance credit scores, Esusu can open up financial opportunities for millions of underserved American households,” said Vikas Parekh, the Managing Partner at SoftBank Investment Advisers. “We believe that Esusu has built a leading rental reporting and financial platform through partnerships with renters, property owners and lenders that can become the central data hub for consumer financial health. We are thrilled to partner with Samir Goel, Abbey Wemimo and the team to support their vision to generate equitable financial access for everyone.”