Esusu Creates Over $46.9 Billion in New Credit Tradelines for Renters Across the Country
The nation’s leading rent reporting and financial wellness platform established 189K+ credit scores and launched its first direct-to-consumer product
NEW YORK, Dec. 19, 2024 (GLOBE NEWSWIRE) — Esusu, the fintech platform leveraging rental data to close the racial wealth gap, released its 2024 Year in Review Data Report today, showcasing record-breaking achievements in advancing financial inclusion and reducing housing barriers for working families. The data reveals the creation of 189,438 new credit scores and over $46.9 billion in capital unlocked for renters via new credit tradelines.
Esusu’s latest data demonstrates an average credit score increase of +45 points for renters reporting with Esusu throughout the length of enrollment. Over 12% of renters on the Esusu platform progressed from subprime to prime credit scores, a life-changing improvement in credit that helped increase financial stability and access to lines of credit with more favorable terms.
As of September 2024, Esusu renters have experienced the following positive outcomes:
- 257,438 auto loans accessed, totaling more than $8.6 billion
- 84,827 student loans accessed, totaling more than $2 billion
- 63,232 mortgages accessed, totaling more than $29.1 billion
“In a year marked by increased economic uncertainty, Esusu remains committed to empowering renters nationwide with access to quality financial resources,” said Samir Goel and Wemimo Abbey, Co-Founders of Esusu. “Through on-time rent reporting, families have unlocked critical pathways to economic mobility—gaining access to cars, education, homeownership, and other essential resources that drive wealth creation and resilience in today’s evolving landscape. With the launch of myEsusu, we are poised to further expand these opportunities and build a more equitable financial future for all.”
In an effort to reach more renters, Esusu recently launched myEsusu, a credit-building membership designed to empower renters by removing financial barriers and providing access to wealth-building opportunities, available on the free Esusu app (iOS and Android). Until now, the Esusu platform has only been available to renters living in a network of 250,000+ Esusu-participating properties across the United States (the Esusu Community Network). For millions of other renters, myEsusu is designed to be the most affordable and robust financial membership to build credit in the market.
For more information, visit www.esusurent.com
About Esusu
Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 5 million rental units across all 50 states in the United States. Learn more at www.esusurent.com and follow us on Instagram @myesusu and on Twitter @getesusu.
Media Contact:
Small Girls PR
esusu@smallgirlspr.com
