A fresh wave of financial innovation is sweeping through the U.S. housing and fintech sectors, and at its heart is Nigerian-born entrepreneur Wemimo Abbey. As co-founder of Esusu, along with Samiir Goel, Abbey is tackling a critical flaw in the American credit system—the exclusion of rental payment histories from credit building. Esusu’s platform is rapidly becoming a game-changer for immigrants, minorities, and low-income earners striving for economic mobility.
Esusu enables renters to report their on-time rent payments to all major credit bureaus, improving their credit scores and unlocking access to financial products that were previously out of reach. For property owners, the solution reduces tenant turnover and streamlines rent collection. Most importantly, Esusu bridges the gap for those historically left out of mainstream financial systems, providing a tangible path to creditworthiness and wealth creation.
Abbey’s vision is rooted in personal experience. Growing up in Lagos and later relocating to the United States, he witnessed firsthand the challenges his family faced when trying to secure housing without a U.S. credit history. This struggle inspired Esusu’s founding principle: breaking down systemic barriers and democratizing financial opportunity for all.
Today, Esusu partners with some of the country’s largest property managers—including Greystar, Related Companies, WinnResidential, and Starwood Capital—serving millions of rental units across all 50 states. In 2022, the startup reached unicorn status, making it one of the few Black-owned companies worldwide valued at over $1 billion. Backed by notable investors such as SoftBank’s Vision Fund, Serena Ventures, Motley Fool Ventures, and Goldman Sachs’ One Million Black Women initiative, Esusu is also a key partner in the White House’s housing stability initiative.
The company’s impact extends beyond credit reporting. Esusu’s rent relief fund provides zero-interest loans to families at risk of eviction, having distributed millions of dollars in support to date. Abbey’s core message is clear: access to credit, loans, and mortgages should not be reserved for the few. By allowing renters to build credit through consistent rent payments, Esusu is opening doors to homeownership, better jobs, and a future of financial stability.
Wemimo Abbey now stands alongside other influential Nigerian-born tech founders like Olugbenga Agboola (Flutterwave), Shola Akinlade (Paystack), and Iyinoluwa Aboyeji (Andela, Flutterwave)—a testament to Africa’s growing influence in global innovation. But Abbey’s journey is distinguished by a relentless pursuit of justice and equity, demonstrating how mission-driven entrepreneurship can reshape industries and expand opportunity on a global scale.
