NEW YORK, April 23, 2021 (GLOBE NEWSWIRE) — Esusu, a leading financial technology company leveraging rent reporting and data solutions for credit building and financial health, today announced a partnership with Goldman Sachs to extend rent reporting benefits to residents in thousands of select Goldman Sachs properties nationwide. The partnership is the result of a 2019 pilot rent reporting program funded by Goldman Sachs and implemented by Esusu and the Credit Builders Alliance that demonstrated that rent reporting can improve credit scores, a key measure of financial health. Esusu boosts renters’ credit scores by reporting on-time rental payments into credit bureaus on behalf of landlords.
“Credit is the building block of financial stability, opportunity, and resiliency in this country. Esusu and Goldman Sachs are working together to help renters access the same credit building benefits that homeowners have utilized for generations,” said Abbey Wemimo and Samir Goel, Co-Founders of Esusu. “This partnership, our first with a major financial institution, is groundbreaking for us because we can scale across the Goldman Sachs real estate investment portfolio and its extensive housing footprint while advocating for our shared commitment to removing systemic housing inequalities that negatively impact the financial well-being of under-resourced communities.”
Esusu will provide renters the option to seamlessly report their rental payment data into Equifax, Experian, and TransUnion to establish and build their credit profiles through on-time payments. Residents will also have free access to their credit score through the Esusu Rent Mobile App. Esusu’s services benefit both renters and real estate owners as a way to drive inclusive economic growth and exhibit a commitment to ESG issues. Headquartered in Harlem, NY, Esusu is a mission-driven, minority-owned startup that has been at the forefront of digitizing credit building efforts and spearheading a million-dollar, national rent relief fund to directly support renters impacted by the COVID-19 housing crisis.
“As part of Goldman Sachs’ core purpose of advancing sustainable economic growth and financial opportunity, we are committed to improving the financial health of the tenants that live in the properties we invest in. Offering rent reporting through our partnership with Esusu is a win all around – for investors, for landlords, and for our tenants and their families. Given the significant impact of rent reporting on financial health, we are working with Esusu to expand rent reporting throughout our Goldman Sachs Asset Management multifamily housing portfolio in the U.S. over time,” said Margaret Anadu, Global Head of Sustainability and Impact for Goldman Sachs Asset Management.
Esusu is the leading financial technology platform that leverages data solutions to empower tenants and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows tenants to build and establish their credit scores while helping property owners increase revenue, lower evictions, and fill vacancies powered by differentiated data and insights. Founded in 2018, Esusu reaches over one million rental units across 43 states in the US. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.
About Goldman Sachs
Goldman Sachs is one of the world’s leading investors in alternative investments. With over 30 years of experience, they invest in the full spectrum of alternatives, including private equity, growth equity, credit, real estate, infrastructure, ESG, and absolute-return strategies. Their clients access these solutions through their direct proprietary strategies, customized strategic partnerships, and open-architecture programs. Their alternative investment teams represent over 1,000 professionals, across 31 offices around the world. They leverage the depth and breadth of global relationships across Goldman Sachs to identify investment opportunities, drawing on their firm-wide capital market insights, industry research, and risk management platforms. They extend these capabilities to the world’s leading pension plans, sovereign wealth funds, governments, financial institutions, endowments, foundations, family offices and individuals, for which they invest or advise on over $300 billion of alternative investments.
Esusu / CJC Insights