Renters build credit through Esusu, a fintech platform that helps tenants report on-time rent payments, as the company raised $50 million in a Series C funding round at a $1.2 billion valuation.

Renters have long been excluded from the traditional credit system. Although an estimated $1.4 trillion in rent is paid to landlords annually in the U.S., only about 20% of landlords report those payments to credit bureaus. As a result, millions of consistent renters remain what the industry calls “credit invisible.”

“110 million people in America rent … and less than 10% of that data shows up on their credit score,” said Esusu co-founder and CEO Wemimo Abbey during an interview on CNBC’s Worldwide Exchange. “When people pay rent, we make sure it shows up in their credit score.”

While on-time mortgage payments are known to boost credit scores, many renters lack any formal credit history. Esusu reports on-time rent payments to credit bureaus, allowing renters to establish or improve their credit profiles. More than 50 million Americans currently have no credit history with Experian, Equifax, or TransUnion.

The company says renters using its platform have already accessed more than $30 billion in mortgage financing.

“Esusu is fundamentally reshaping how the financial system can work for everyone,” said Sean Mendy, partner at Westbound Equity Partners and a lead investor in the round. “When people are given the tools to rise, they do.”

Esusu was ranked No. 49 on CNBC’s 2025 Disruptor 50 list.

The company partners with roughly 65% of the largest commercial real estate owners and property managers in the U.S., as well as major banks. Since launching in 2016, Esusu has expanded to support more than five million rental units nationwide, reaching approximately 12 million renters and processing nearly $100 billion in annual lease volume. Clients include Bell Partners, BH Management, Blackstone, Cortland, Invitation Homes, Jonathan Rose Companies, Kayne Anderson, Morgan Properties, Nuveen Real Estate, Pretium, Related Companies, TruAmerica, and WinnCompanies.

Esusu plans to use the new funding to expand three initiatives. First, it will broaden distribution of its rent-reporting API through a “rent reporting as a service” model. Through partnerships such as Zillow, Esusu technology now reaches 228 million monthly active users. The company also plans to launch Esusu Pay in 2026, enabling renters to split monthly rent into installments.

Another priority is embedding rental data more deeply into mortgage underwriting. The Federal Housing Finance Agency has formalized the inclusion of rental data in underwriting, requiring verified rental and identity information. Esusu acquired identity verification firm Celeri earlier this year and already partners with Fannie Mae and Freddie Mac to expand rent reporting nationwide.

Esusu founders Abbey and Samir Goel say their mission is rooted in personal experience. Both grew up watching their families struggle financially after immigrating from Lagos, Nigeria, and New Delhi, India. “When we came here, we didn’t have a credit score,” Abbey told CNBC in a June 2025 interview. “We were turned away by major financial institutions and forced to borrow from predatory lenders. My mother sold my dad’s wedding ring. That’s how we got started.”