Fannie Mae and Esusu team up to create equitable financial opportunities for millions through rent reporting. Read on!

Looking back at 2022: Esusu’s year in review

Wemimo Abbey and Samir Goel • December 22, 2022

Growth was the theme of 2022 for Esusu, and this year added many more clients, residents, and team members to our world. As we reflect on the year, we want to extend our gratitude and genuine humility to everyone who has trusted and supported our mission.

 

Supporting renters, owners, and operators 

We brought Esusu into the homes of more renters than ever. Esusu is now available in all 50 states, and our partners have over 3 million rental units. There are now thousands of properties reporting rent and tracking their social impact with Esusu nationwide (we added more than 1,500 properties in 2022 alone). This could not have been possible without joining forces with some of the biggest names in real estate, including BH, Campus Apartments, National Equity Fund, Progress Residential, and of course, Fannie Mae (just to name a few).

 

 

Though more than 45 million Americans are currently credit invisible, we have helped residents nationwide establish tens of thousands of credit scores for the first time, with the highest score reaching 839 points. We’re proud to announce that the average score of all Esusu renters is 671, well within the prime tier of credit.

Through a partnership with Equifax, we’ve learned that thousands of these residents have gone on to access their first car loans, student loans, credit cards, and even mortgages. This is a huge step in helping bridge the racial wealth gap; we’re seeing for the first time that our residents are getting access to more affordable sources of debt. 

 

 

When inflation challenged the affordability of life in America, Esusu Rent Relief stepped in, and we have now distributed millions in rent relief funds. We want to thank our philanthropic partners for helping get relief to thousands of families facing eviction. We also introduced the Esusu Renters Marketplace, a handpicked hub of resources that brings better access to financial services and education, including FindHelp.org.

 

 

Building a network of those who believe in bridging the racial wealth gap

It was also a historic year in fundraising for Esusu. In January, we raised $130 million and secured a $1 billion valuation, becoming one of the first Black-owned startups to achieve unicorn status. This valuation reflects the shared belief by our team, our investors, and our clients that doing good and doing well do not have to be mutually exclusive. 

 

 

Esusu landed on the lists for Forbes Fintech 50, CohnReznik Gamechangers in ESG Award, AFROTECH Founders of the Year, and Fast Company’s Most Innovative Companies, among others. We’re proud to be featured alongside other mission-driven companies that are changing what it means to be a successful business. 

 

Growing a global team

Esusu can’t do what it does without the team we’ve built, and we’re lucky to see it grow significantly this year. Globality is a core value at Esusu, and this year, our team came together from five continents (North and South America, Africa, Asia, and Europe). Furthermore, our senior leadership team is now 90% people of color and 50% women. At Esusu, we will continue to double down on the fact that diversity outperforms. We were honored by being named one of LinkedIn’s Top Startups in 2022, a testament to our culture and the hard work that has gone into achieving our mission. 

 

 

Our team went from 95 at the beginning of 2022 to a global workforce of 172 today, and we’re still growing! If anyone you know is interested in joining a team working to dismantle barriers to housing and bridge the racial wealth gap, tell them to take a look at our open roles.

 

 

We can’t wait to see what 2023 has in store for us. If you want to follow along, check us out on LinkedIn, Twitter, and Instagram.