Total amount raised
$145 Millions
Latest funding date
1/1/2022
Location
Esusu has successfully raised $130 million over multiple funding rounds, achieving a valuation of $1 billion. The platform leverages data solutions to help residents build credit and improve property performance.
Keep reading to explore the intricacies of Esusu's fundraising journey and the investors backing this innovative platform.
What Is Esusu?
Esusu, founded in 2016, is a financial technology platform based in New York, New York. The company focuses on helping renters build their credit scores by reporting rent payments to major credit bureaus.
Esusu was co-founded by Jeph Acheampong, Robert Henning, Samir Goel, and Wemimo Abbey. The platform offers various services, including rent reporting, financial coaching, and a marketplace for financial products.
With a team of 101-250 employees, Esusu aims to ensure that financial identity does not determine one's life outcomes, allowing renters to build and establish their credit scores while helping property owners mitigate against initiating evictions.
How Much Funding Has Esusu Raised?
- Seed Round
- Amount Raised: $400K
- Date: August 2018
- Lead Investors: Sinai Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Seed Round
- Amount Raised: $1.6M
- Date: August 2019
- Lead Investors: Acumen America
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: $2.3M
- Date: August 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Seed Round
- Amount Raised: $125K
- Date: May 2021
- Lead Investors: Financial Solutions Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and initial market entry.
- Series A
- Amount Raised: $10.6M
- Date: July 2021
- Lead Investors: Motley Fool Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate market adoption and achieve significant growth.
- Series B
- Amount Raised: $130M
- Date: January 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: $1 billion
- Motivation Behind the Round: To scale the team, drive product innovation, and build a comprehensive financial health platform.
Esusu has raised a total of $145.025 million and is currently valued at $1 billion.
Key Investors
- SoftBank Vision Fund
- Details: Managed by SoftBank Group, this fund focuses on technology-driven companies. It is one of the largest venture capital funds globally.
- Investment Focus Areas: Technology, artificial intelligence, robotics.
- Notable Investments: Uber, WeWork, DoorDash.
- Motley Fool Ventures
- Details: A venture capital firm associated with The Motley Fool, focusing on early-stage companies. They aim to support high-growth potential startups.
- Investment Focus Areas: Consumer goods, financial technology, healthcare.
- Notable Investments: Grove Collaborative, Truebill, Root Insurance.
- Financial Solutions Lab
- Details: An initiative by the Financial Health Network, focusing on innovative solutions to improve financial health. They support startups that address financial challenges.
- Investment Focus Areas: Financial technology, consumer finance, financial inclusion.
- Notable Investments: Propel, Nova Credit, Dave.
- Acumen America
- Details: A nonprofit impact investment fund that supports early-stage companies tackling poverty in the United States. They focus on social impact.
- Investment Focus Areas: Healthcare, financial inclusion, workforce development.
- Notable Investments: Pigeonly, Workit Health, Edquity.
- Sinai Capital Partners
- Details: A venture capital firm that invests in early-stage companies. They focus on innovative startups with high growth potential.
- Investment Focus Areas: Technology, media, consumer products.
- Notable Investments: Not publicly disclosed.
What's Next for Esusu?
Esusu's future looks promising with opportunities to scale its team and expand its market presence. The U.S. rental market, involving over 109 million Americans, presents a significant growth potential. By partnering with more landlords and property management companies, Esusu can enhance its platform to offer comprehensive financial health solutions.
Future fundraising opportunities are likely, given the company's strong performance and investor interest. However, Esusu may face challenges such as competition from other fintech companies and regulatory hurdles related to financial data and credit reporting. Ensuring data privacy and security will also be crucial as the company grows.
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