Wemimo Abbey

Courtesy of Esusu
  • Age
  • Title
    Cofounder and Co-CEO
  • Company
    Esusu Financial

Wemimo Abbey grew up in the slums of Lagos, and lost his father when he was two. He and his mother moved to Minnesota, where they were turned away from several banks while looking for a way to pay for Abbey to go to college, because they didn’t have a credit score. His mother pawned his father’s ring, took out a 400% interest loan, and borrowed money from members of their church. That early experience inspired his current path: Indeed, one in every 10 adults has no credit history, and Abbey’s startup Esusu is working to change that. Esusu uses data to bridge the racial wealth gap by reporting on-time rent payments to major credit bureaus, so renters establish and improve their credit scores when they pay on time. The fintech company also offers 0% interest rent relief solutions for renters experiencing financial hardship. Abbey says Esusu’s customers have a reach of 3 million rental units across all 50 states, and the company has seen 600% growth year over year. After a $130 million Series B funding round in January, Esusu became one of a very few Black-owned unicorns in the U.S.     Follow: Twitter