The wealthtech app Esusu has hit a Unicorn valuation, having announced the close of a $130 million Series B with star backers, including lead investor SoftBank. Esusu’s platform aims to support renters to build financial identity, reach financial stability, and ultimately move towards wealth creation. Esusu will use the funding to triple its headcount, accelerate its product roadmap and build the most comprehensive financial health platform in the market.

Founded in 2018 by Abbey Wemimo and Samir Goel, Esusu was built for financial inclusion, financial identity and financial wellbeing for property renters. Its mission is to dismantle barriers to housing for working families, “unleashing the power of data to bridge the racial wealth gap.” This fundraise makes Esusu one of the few Black-owned startups to reach Unicorn status both in the United States and globally.

Our mission is to dismantle barriers to housing for working families. We believe housing is a fundamental right, and we envision a world without delinquency, housing evictions, and ultimately, homelessness.”
Image credit: esusurent.com

Reaching over 2.5 million rental units across all 50 states, Esusu says its platform provides a win-win solution for landlords and renters alike. The Series B fundraise will enable the firm to scale the team, accelerate new product development, and grow its reach across the rental market.

Writing on the announcement, Esusu’s Co-Founders Abbey Wemimo and Samir Goel, said:

We founded Esusu in 2018 with the premise that no matter where you come from, the color of your skin, or your financial identity it should never determine where you end up in life. In the United States, credit is fundamental to financial stability, access to housing, and upward mobility. Unfortunately, the current system leaves millions behind who are credit invisible, thin-file, or otherwise credit-challenged precluding them from accessing quality financial products.”

The founders also thanked their investors, including Serena Ventures, the early-stage VC founded by Serena Williams that has a strong track record of backing diverse founders. The round was led by SoftBank Vision Fund 2, alongside new investors that include Jones Feliciano Family Office, Lauder Zinterhofer Family Office, Schusterman Foundation, and Wilshire Lane Capital. Existing investors Concrete Rose Capital, Equity Alliance, Impact America Fund, Motley Fool Ventures, Next Play Ventures, Serena Ventures, Sinai Ventures, and TypeOne Ventures also participated.

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