This is the Esusu pitch deck to raise a $2.3m extension seed round in 2020.
About
Esusu is a mobile platform designed to empower our users to better save their income, access larger sums of capital, and build credit and financial identity through community-based savings.
Across the world, millions of people use savings clubs to build financial resilience and plan for the future. These groups are formed of trusted family and friends who each contribute toward a single pot of money on a regular basis. Each group member then has the chance to withdraw the full pot and use it towards big-ticket items including education, launching a business, and remittances.
Esusu is adapting this tried-and-tested solution to the digital world to scale its capacity to level the economic playing field. Esusu serves as the bridge between the formal and the informal financial economy for 57% of Americans who qualify as financially unhealthy.
The firm was backed by Next Play Ventures, cofounded by LinkedIn chairman Jeff Weiner, as well as new investors Concrete Rose Capital, Zeal Capital Partners, and the Impact America Fund.
According to data collated by the Consumer Financial Protection Bureau, an estimated 45 million Americans don’t have a credit score. For many, this can make it harder to go beyond living paycheck to paycheck.
Esusu collects and compiles tenant data for credit agencies and landlords to try and reduce the likelihood of eviction and help the worst-affected renters build better credit.
Speaking to Business Insider, cofounder Abbey Wemimo said Esusu was helping to “right the wrongs of America’s past” by countering the long-term effects of systemic racism.
“If you don’t have a good credit score, you will ultimately end up paying out so much more over the course of your lifetime,” he said. “That’s fundamentally unfair — but it presents a wonderful opportunity for us to address that, and rebalance a key part of the American economy.”
Wemimo added that Weiner had been an “invaluable” asset to the company since coming on board as an investor. “I think a lot of investors of his calibre are sometimes a little distant or hands-off. But Jeff is always accessible, ready to help … It’s been really great having him there.”
Funding Rounds
| Announced Date | Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Jul 16, 2021 | Series A – Esusu Financial | 9 | $10.6M | Motley Fool Ventures |
| Aug 26, 2020 | Seed Round – Esusu Financial | 7 | $2.3M | — |
| Aug 28, 2019 | Seed Round – Esusu Financial | 7 | $1.6M | Acumen |
| Aug 2, 2018 | Seed Round – Esusu Financial | 2 | $400K | Sinai Ventures |
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