How Rent Became a $1.2B Fintech Opportunity

How Esusu Is Turning Rent Into Financial Power

For decades, paying rent on time has been one of the largest and most consistent financial obligations for millions of Americans — and yet, it has counted for almost nothing in the eyes of the traditional credit system.

That’s beginning to change.

This week, Esusu, a fintech platform focused on helping renters build credit, announced a $50 million Series C funding round, pushing its valuation to $1.2 billion and bringing total capital raised to over $200 million. But the headline isn’t just about money raised — it’s about a quiet structural shift in how financial trust is measured in the U.S.

The Credit Blind Spot No One Talked About

An estimated 110 million people in America rent their homes. Collectively, they pay roughly $1.4 trillion in rent every year. Yet fewer than 20% of landlords report rent payments to credit bureaus. The result? Millions of renters who reliably pay their biggest bill every month are considered “credit invisible.”

As Esusu co-founder and CEO Wemimo Abbey put it:

That simple idea has massive implications. Over 50 million Americans lack a formal credit history with the major bureaus — Experian, Equifax, and TransUnion. Without a credit score, access to mortgages, affordable loans, or even basic financial products becomes limited or impossible.

Turning Rent Into a Credit Asset

Esusu’s platform reports on-time rent payments directly to credit bureaus, allowing renters to build credit without taking on new debt. Unlike traditional credit-building tools that require credit cards or loans, Esusu works with behavior renters already practice — paying rent.

The impact is already measurable:

• Esusu now powers over 5 million rental units

• Reaches approximately 12 million renters

• Processes nearly $100 billion in annual lease volume

• Has helped renters access $30 billion in mortgage financing

This isn’t just fintech innovation — it’s infrastructure.

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Embedded Fintech at National Scale

One of Esusu’s biggest strengths is distribution. The company partners with 65% of the largest commercial real estate owners and property managers in the U.S., including Blackstone, Related Companies, Invitation Homes, and Nuveen Real Estate.

More importantly, Esusu is moving toward what it calls “rent reporting as a service.” Its rent reporting API is now embedded across major platforms — including Zillow, where Esusu’s technology reaches an estimated 228 million monthly active users.

This is a textbook example of embedded fintech: instead of forcing users to change behavior, the financial product meets them exactly where they already are.

What’s Next: Payments, Identity, and Mortgages

Esusu plans to deploy its new funding across three major initiatives:

1. Rent Reporting as a Service
By expanding its API distribution, Esusu aims to make rent reporting a default feature rather than an exception — transforming how rental data flows through the financial system.

2. Esusu Pay (Launching 2026)
The company plans to launch Esusu Pay, a product that will allow renters to split monthly rent into installments — potentially smoothing cash flow while maintaining on-time payment records.

3. Mortgage Underwriting Integration
Perhaps most significant is Esusu’s push into mortgage underwriting. The Federal Housing Finance Agency (FHFA) has formally recognized rental data as part of mortgage evaluations, provided it is verified.

To support this, Esusu recently acquired Celeri, an identity verification firm, and already partners with Fannie Mae and Freddie Mac to increase rental data inclusion nationwide.

If successful, rent history could soon be as meaningful as mortgage history — a foundational shift in underwriting logic.

A Founder Story Rooted in Lived Experience

Esusu’s mission is deeply personal. Founders Wemimo Abbey and Samir Goel grew up in immigrant families from Nigeria and India, respectively. When their families arrived in the U.S., they had no credit scores — and no access to fair lending.

Abbey recalls being turned away by traditional banks and forced toward predatory lenders charging over 400% interest. His family sold personal belongings and borrowed from their church to survive.

That experience became Esusu’s origin story.

Why This Matters for the Future of Fintech

Esusu’s rise highlights a broader trend shaping the next wave of fintech:

• Alternative data is becoming mainstream

• Creditworthiness is being redefined

• Infrastructure matters more than flashy apps

• Financial inclusion can be profitable at scale

Being named No. 49 on CNBC’s 2025 Disruptor 50 list underscores that Esusu isn’t just filling a niche — it’s reshaping how trust is measured in financial systems.

In a world where access to capital often determines opportunity, turning rent into a recognized financial asset may prove to be one of fintech’s most quietly powerful innovations.

And sometimes, progress doesn’t come from inventing something new — but from finally recognizing what people have been doing right all along.