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Wharton FinTech Podcast

Wemimo Abbey & Samir Goel, Esusu - Expanding access to credit using on-time rental payments

Jan 22, 2024
Wemimo Abbey and Samir Goel, co-CEOs of Esusu, discuss expanding financial access, their principled leadership, and lessons learned. They highlight the challenges of persuading credit bureaus to accept rental data and the power of collective resources. The speakers express gratitude for their work and reflect on the journey of building a company.
42:58

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Quick takeaways

  • Esusu has successfully unlocked $21.9 billion in new credit activity for renters, enabling them to establish credit scores and improve them significantly.
  • Esusu provides three core services: reporting rent payments to credit bureaus, offering zero percent interest loans to renters in financial emergencies, and helping partners quantify their social impact through data-driven metrics.

Deep dives

The Importance of Financial Access and Stability for Renters and Property Owners

Essusu is a leading FinTech platform that focuses on providing rent reporting, property management analytics, and rental assistance to unlock financial access and stability for renters and property owners in the US. They have successfully unlocked $21.9 billion in new credit activity for Essusu renters, enabling 107,000 renters to establish credit scores for the first time and helping many more improve their scores. In addition, Essusu was valued at $1 billion in a recent funding round and named one of Forbes' most innovative FinTech companies. The founders of Essusu have strong backgrounds in social entrepreneurship and have successfully built a company that combines profit with purpose.

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