Tech in Africa
Esusu, a Nigeria rent-reporting, and credit building data solutions fintech are looking to serve the underserved populations. Esusu reports rental payments to major credit bureaus and allows renters to build their credit histories. The startup has raised a Serie A funding round worth $10 million by Motley Fool Ventures with participation from Predictive VC, The Equity Alliance, and other top angel investors.
Esusu has raised over $14 million. Previous investors in the startup Global Good Fund, Next Play Ventures, and Zeal Capital. Esusu was founded by Samir Goel and Nigerian-born Abbey Wemimo who described the $10 million raise as a Serie A round that scales the business and increases cybersecurity.
Ollen Douglass, the MD at Motley Fool Ventures described Esusu as an innovative fintech looking to offer scalable financial solutions to underserved populations. He also described their credit building offerings to unlock credit for low-to-medium income.
Serena Williams has invested a given amount in Esusu, allowing renters to build and improve credit when report renting to credit bureaus. The funding was channeled through Serena Ventures, in their first funding round.
Appearing on CNBC Serena shared that she started Serena Ventures to invest in diverse founders and other early-stage companies. She described Esusu’s focus on “credit building and creating pathways to financial inclusion.”
Source: CNBC
