49. Esusu
Nearly 50 million people in the U.S. are considered to be "credit invisible," a number that disproportionately includes low-income and minority Americans, according to research from the Office of the Comptroller of the Currency. When a consumer is credit invisible, it means that they don't have a credit history with any of the three major credit bureaus: Experian, Equifax and TransUnion. That is an institutional hurdle which can hold many Americans back from ever reaching financial security.
Fintech startup Esusu is looking to change the way credit is scored, with a focus on housing.
On-time mortgage payments are known to increase one's credit score, while on-time rent payments have not typically been factored into credit reports. Many renters don't have any history of credit. Esusu records rental payment data and reports the information to credit bureaus. Since its launch, Esusu has helped renters by generating over 200,000 new credit scores and raising existing credit scores by an average of over 100 points. Property managers also benefit from the on-time rent payment system.
Esusu founders Wemimo Abbey and Samir Goel grew up watching their families struggle financially as immigrants from Lagos, Nigeria, and New Delhi, India, and those financial obstacles were a founding motivation for Esusu and its goal of helping Americans build strong credit histories.
"When my folks moved here, our journey to pursue the American Dream was just harder than it should have been," Goel told to CNBC in a 2021 interview. "I remember just watching my parents work miracles with no credit and limited financial resources. Abbey and I like to say we are inspired by our experiences."
Esusu has paved a path for itself in the fintech industry by serving as a rent reporting provider for major names in finance and real estate including Goldman Sachs, Mercy Housing and Cushman & Wakefield.
Last year, Esusu expanded its presence in the direct-to-consumer market. Previously, the company was only available for renters living in an Esusu-participating property. With the launch of myEsusu, all renters are now able to use the application and can choose between a free account or a membership that offers additional tools for $2.50 per month, or $29.99 per year. Application users are able to gain credit for paying their rent on time, learn about credit building products and services, view a credit score hub and access financial resources.
Esusu also has partnerships with Fannie Mae and Freddie Mac to increase the number of units nationally that report rent as part of credit and improve the credit scores across more Americans.
The company has received backing from tennis legend Serena Williams' venture capital firm Serena Ventures.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
USA Today
25 minutes ago
- USA Today
Nvidia CEO says Trump gives America an advantage. Hear that, progressives?
The top executive of the world's most valuable company doesn't have to flatter anyone, even the president of the United States. I'm worried about artificial intelligence. It feels like it's invasive, increasingly ubiquitous and coming for my job. I'm not alone. More than 30% of Americans think AI will do more harm than good. But on July 24, the Trump administration unveiled a bold plan to ensure that the U.S. dominates the world when it comes to AI. It's eased my mind a bit. President Donald Trump's plan sounds smart and promising. Global tech leaders support it, too, including the chief executive of the world's most valuable company. "America's unique advantage that no country could possibly have is President Trump," Nvidia CEO Jensen Huang said on the "All-In" podcast. Trump says US will win the AI race Trump, speaking at the Winning the AI Race summit for "All In," declared that the U.S. will outpace foreign competitors in developing artificial intelligence. That's important because tech leaders have noted that the country that achieves certain AI milestones may well develop an insurmountable lead in unleashing the most revolutionary technology of our lifetimes. Opinion newsletter: Sign up for our newsletter on conservative values, family and religion from columnist Nicole Russell. Get it delivered to your inbox. The Trump administration is taking a hands-off approach to regulating AI at this point. The president even signed executive orders to reduce regulations on constructing data centers and block states from regulating AI on their own. Opinion: Trump wins again. Columbia's $200 million fine will reshape higher education. Tech industry giants embrace Trump's AI plan The shift in the tech industry from critics to partners of Trump has been remarkable. OpenAI CEO Sam Altman was one of those critics. Now he supports the president. Meta founder Mark Zuckerberg also has made an obvious shift toward Trump. And, of course, SpaceX and Tesla CEO Elon Musk famously supported Trump before their very public and nasty falling out this year. Opinion: We're creating AI that could surveil US citizens. And the government is in on it. The tech leaders admittedly have their own interests in mind in praising Trump these days. But those interests also include America's economic, technological and national defense priorities. Our nation's strength and the prosperity and well-being of Americans may well depend on whether we win the AI race in the years ahead. It's Huang's support that impresses me the most. The top executive of the world's most valuable company doesn't have to flatter anyone, even the president of the United States. Nvidia is leading the global race to the future, and this leader among leaders now says having Trump in the White House is an advantage for America. Perhaps even progressives should listen. Nicole Russell is a columnist at USA TODAY and a mother of four who lives in Texas. Contact her at nrussell@ and follow her on X, formerly Twitter: @russell_nm. Sign up for her weekly newsletter, The Right Track, here. You can read diverse opinions from our USA TODAY columnists and other writers on the Opinion front page, on X, formerly Twitter, @usatodayopinion and in our Opinion newsletter.
Newsweek
26 minutes ago
- Newsweek
Map Shows Best and Worst States To Move to in 2025—Ranked
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Thinking about moving to another state? Utah, New Hampshire and Idaho are among the best states to head to, while New Mexico, Louisiana and California are among the worst. That's according to a new study by ConsumerAffairs, which named the best—and worst—U.S. states to move to in 2025. Drawing on five key metrics—affordability, safety, economy, healthcare and education, and quality of life—the report ranks all 50 states based on their overall appeal for newcomers. For the second consecutive year, Utah, New Hampshire, and Idaho claimed the top three positions, the study noted. These states offer strong scores across multiple categories, especially in safety, economic stability, and overall quality of life. Harrison Stevens, VP of marketing at TurboTenant, cautioned that rankings may not apply equally to everyone. "Stats and lists like these can help, but also they're not the perfect indicator of what state is right for you," he told Newsweek. He pointed to New Hampshire—ranked second overall—but 33rd for affordability. "So, it's probably not the best state for someone looking for affordable housing." New Mexico ranked lowest overall due to weak performance in safety, healthcare, and education, despite strengths like affordable housing and sunshine. "If New Mexico's affordable housing and abundant sunshine are calling your name, you might think again —the state scored poorly in safety, health care and education, making it the worst state to move to this year," the report warned. What To Consider When Moving States in the U.S. Jeremy Savory, founder of global consulting firm Millionaire Migrant, said tax incentives often play a central role in domestic migration. "Any country—or in this case, any U.S. state—with a low or zero-tax jurisdiction has been doing well in the real estate market and will continue to do well," he told Newsweek. "People are moving within their own country—to Florida and Texas—because people move to where their money goes further." Chris Orestis, president of Retirement Genius, agreed that financial optimization drives migration. "Huge priorities for choosing where to live are making the most out of savings, investments, and entitlements during retirement while limiting the impact of taxes," he told Newsweek. Orestis noted that retirees are increasingly turning to inland, low-tax states away from climate-prone coastal areas. "As Americans consider where they may live in retirement, they must also prepare themselves for the negative impact that climate change-driven disasters will have on their finances, health, and lifestyle," Orestis said. Rising insurance costs and environmental risks are shifting retirement preferences away from traditional sunbelt states like Florida and Arizona. Max Dugan-Knight, a climate data scientist at Deep Sky, echoed those warnings. "Heat waves are becoming more common and more deadly in many places, hurricanes are causing worse flooding, and these trends impact all of the metrics in the study," he told Newsweek. He said affordability is now closely linked with climate resilience. "As risk in your area increases the cost of things like home insurance will skyrocket. You will end up paying for climate risk through the cost of insurance or the cost of damages if you choose to go without." Dugan-Knight advised avoiding areas already struggling with climate pressures. "Hot places are going to get hotter," he said. "Extreme heat in places like Arizona, New Mexico, and Texas is only getting worse. These areas also have risks when it comes to water security, which is going to become a critical issue in the next few years." As for coastal regions, the scientist issued a final note of caution: "Flooding tends to be the costliest kind of property and low-lying areas are most at risk, particularly on the Gulf and South Atlantic coasts." Top 10 Best States To Move To in 2025 Utah New Hampshire Idaho Virginia South Dakota Maine Nebraska Massachusetts Wisconsin Wyoming Top 10 Worst States To Move To in 2025 New Mexico Louisiana California Oregon Arkansas Nevada Oklahoma Alaska Arizona New York Source: Based on a study by ConsumerAffairs that looked at five key metrics—affordability, safety, economy, healthcare and education, and quality of life. See the full ranking of all 50 states at the ConsumerAffairs website. Do you have a travel-related video or story to share? Let us know via life@ and your story could be featured on Newsweek.
Newsweek
26 minutes ago
- Newsweek
Social Security: Two Types of Benefits To Be Paid This Week
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. This week, two payments will be made by the Social Security Administration (SSA). What To Know Millions of Americans receive Social Security benefits, whether it be retirement checks or disability payments, known as Supplemental Security Income (SSI). On Friday, August 1, checks will go out for SSI recipients, retirees who have been collecting checks since before May 1997, and retirees who also collect SSI benefits. Following on the from this, further payments will be made on Wednesday, August 13 : Retirement, spousal and survivor benefits for those born between the 1st and 10th of any calendar month : Retirement, spousal and survivor benefits for those born between the 1st and 10th of any calendar month Wednesday, August 20 : Benefits for those born between the 11th and 20th : Benefits for those born between the 11th and 20th Wednesday, August 27 : Benefits for those with birthdays between the 21st and 31st : Benefits for those with birthdays between the 21st and 31st Friday, August 29: SSI payments. This payment would usually come at the first of the month for September. However, due to September 1 falling on Labor Day, a national holiday, the payment will be made slightly earlier. Stock image/file photo: A Social Security card with U.S. Dollars. Stock image/file photo: A Social Security card with U.S. Dollars. GETTY How Much Can I Get? The average Social Security check was $2,002.39 as of May 2025, although numerous seniors have expressed dissatisfaction about the amount they get. "The average Social Security benefit amount changes monthly," an agency spokesperson told Newsweek. "As wages tend to rise over time, each new group of retirees raises the average benefit amount, since their benefit calculations typically reflect higher earnings." Social Security benefits vary by individual. Payments are calculated based on a person's 35 highest-earning years—adjusted for inflation—and the age at which they begin claiming benefits. In 2025, the maximum monthly benefit for someone retiring at the full retirement age of 67 is $4,018. Retiring early at 62 reduces the maximum to $2,831, while delaying retirement until 70 raises the potential benefit to as much as $5,108 per month. SSI recipients received an average of $718.30. How much beneficiaries get is based on how much money they earn and other resources available to them. Seniors on Social Security With more than 50 million Americans collecting retirement checks from the federal government every month, many seniors want to see major reform to the program, according to a new report by The Senior Citizen's League. The advocacy group found that only 10 percent of beneficiaries are satisfied with their monthly check, while 63 percent reported being dissatisfied. Beneficiaries have also taken issue with the annual cost of living adjustment, or COLA, with many saying it doesn't accurately reflect cost increases year-to-year for older Americans. In a recent poll, 34 percent of respondents identified updating the COLA formula as their top policy priority for enhancing Social Security benefits.
