Esusu, a financial technology company that enables renters to build credit from on-time rent payments, announced Thursday that it has raised $50 million in a Series C funding round, bringing the company’s valuation to $1.2 billion.
The financing was led by Westbound Equity Partners with participation from Blue Meridian Partners, the Geraldine R. Dodge Foundation and strategic family offices. The round brings Esusu’s total funding to more than $200 million since its founding in 2018.
Esusu works with property owners and managers to report rental payment data to major credit bureaus, letting millions of renters strengthen their credit profiles through a financial behavior that historically has not been captured by traditional credit models.
The company said it plans to use the new capital to expand its core technology infrastructure, accelerate the development of credit-building and financial wellness tools, and broaden its partnerships with real estate owners, property managers and financial institutions.
In a press release, Esusu highlighted growing industry adoption of alternative credit data. The company noted that rent is one of the largest recurring monthly expenses for most Americans and emphasized that incorporating rental payment data into credit evaluations can expand access to credit for underserved communities.
In a personal reflection shared on LinkedIn, co-founder Wemimo Abbey framed the Series C as a long-sought milestone in a journey marked by persistence and sacrifice. He recounted a 2018 trip to Minnesota, where the founders closed a $20,000 contract with the University of Minnesota Crookston but lacked the funds to book a hotel room.
After trying to work overnight at a Denny’s in Fargo, North Dakota, they were asked to leave at 2 a.m. and forced out into below-freezing temperatures.
“We were $100,000 in debt after 15 months of bootstrapping, depleting our savings accounts and maxing out our credit cards,” Abbey wrote. “Seven years later, after countless nos, many sacrifices and an unwavering commitment to the mission, vision and team that fuels Esusu, we announced our Series C today.”
“Thank you to the village that continues to support us and has proven that even against all odds, anything is possible,” he added.
Esusu’s platform currently serves more than 5 million rental units across the United States, and the company says it has seen increased engagement from lenders and policymakers interested in alternative credit signals.
The company’s leaders said the new funding will help deepen its impact and scale its role as a foundational financial infrastructure provider in the rental economy.
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