Tech

Here’s an exclusive look at the 16-page pitch deck Black-led fintech startup Esusu used to raise $130 million in funding led by SoftBank

Samir Goel and Abbey Wemimo, cofounders of Esusu, standing outside wearing suits, with stores in the background.

Esusu became one of the few Black-led unicorns after raising a $130 million round led by SoftBank.
The startup helps renters establish credit, which its immigrant founders faced challenges building.
The funding round is the company’s second in six months, propelling it to a $1 billion valuation.

Over a meal at Max Brenner, the chocolate emporium in New York’s Union Square, Abbey Wemimo and Samir Goel resolved to quit their day jobs and chase their dreams of building a startup with social impact.

A little more than four years later, their proptech company, Esusu, has reached 2.5 million homes across the US to help renters build their credit scores and gain access to financial products such as mortgages and credit cards. And now, it’s worth $1 billion.

Esusu recently announced that it raised $130 million in Series B funding led by SoftBank Vision Fund 2. The round makes Esusu one of a growing, but still small, number of unicorns with at least one Black founder, joining companies such as Calendly, SmartAsset, and Flutterwave.

The company sells its technology to real estate companies such as Cushman & Wakefield, Harbor Group, and Related Companies. When renters in properties owned by those companies pay their rent on time, Esusu reports those payments to credit bureaus. According to the startup’s founders, Esusu has helped renters increase their credit scores by as much as 100 points.

The company also provides property owners a suite of data to help them maximize their income and track environmental, social, and governance metrics. And it’s partnered with nonprofits and philanthropic organizations, such as the Target Foundation and The Global Good Fund, to establish a rent relief fund that offers zero-interest loans to tenants who are facing financial hardships.

In turn, Esusu has drawn plenty of attention from investors. It’s the second round of funding for the startup within six months. In July, the company announced a $10 million Series A round. Wemimo told Insider he and Goel sought to close that round quickly, given the momentum their company was building. Within months, they had made enough progress to go fundraising again.

Here’s the pitch deck, with some details redacted, that Esusu used to raise funding from investors like SoftBank, Serena Ventures Impact America Fund, and Motley Fool Ventures: