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Fintech Founders Quit Jobs, Rack Up $100K Debt to Launch $1.2B Company
Wemimo Abbey and Samir Goel built Esusu, a fintech startup that helps renters build credit, from the ground up through personal sacrifice.
Apr. 12, 2026 at 10:29am by Ben Kaplan
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The Esusu cofounders' personal sacrifices, including maxing out credit cards and sleeping in a Denny's, paved the way for their fintech startup to reach unicorn status.San Francisco TodayWemimo Abbey and Samir Goel, the cofounders of fintech company Esusu, quit their corporate jobs and exhausted their savings on the road to unicorn status. The founders faced hundreds of rejections from investors who didn't understand their mission, forcing them to max out credit cards and even sleep in a Denny's. But their dedication to helping underserved communities build credit paid off, as Esusu has now raised over $200 million in funding and reached a $1.2 billion valuation.
Why it matters
Abbey and Goel's story highlights the challenges that diverse founders can face in securing funding, especially for mission-driven businesses that serve underrepresented communities. Their success in building Esusu into a fintech unicorn despite these obstacles demonstrates the power of perseverance and a deep understanding of the market opportunity.
The details
After meeting at the Clinton Global Initiative Conference in 2014, Abbey and Goel launched Esusu in 2018 to help renters build credit by reporting on-time rent payments to credit bureaus. While holding down full-time jobs, they faced hundreds of rejections from investors who didn't see the value in their service. Forced to quit their jobs and max out $100,000 in credit card debt each, the founders even resorted to sleeping in a Denny's when they couldn't afford a hotel room. But their dedication paid off, and Esusu has now raised over $200 million in funding, including investments from SoftBank Vision Fund 2 and Serena Williams' firm Serena Ventures. The company has grown to reach 5 million rental units across the U.S., helping 12 million people build their credit scores by an average of 53 points.
- In 2014, Abbey and Goel first met at the Clinton Global Initiative Conference.
- Esusu was formally launched in 2018.
- In 2025, Esusu helped 272,361 renters establish credit scores for the first time, a 34% year-over-year increase.
The players
Wemimo Abbey
The 33-year-old cofounder and co-CEO of Esusu, who was raised in the 'slums' of Lagos, Nigeria and saw his family fall victim to predatory lending schemes after immigrating to the U.S.
Samir Goel
The 32-year-old cofounder and co-CEO of Esusu, who watched his parents struggle to survive in the U.S. without a credit identity or savings account after immigrating from New Delhi, India.
Serena Ventures
The investment firm founded by tennis star Serena Williams, which has invested in Esusu.
SoftBank Vision Fund 2
The venture capital fund that has invested in Esusu, helping the fintech startup reach a $1.2 billion valuation.
What they’re saying
“We built Esusu on this idea that no matter where you come from, what you look like, or your financial identity, it should never determine where you end up in life.”
— Samir Goel, Cofounder and Co-CEO, Esusu
“We would talk to a lot of VCs, and they would ask us questions like, 'Who cares about 40 points on a credit score? How many people are living paycheck to paycheck in this country?' In their perception, it was a small segment of the market, whereas we're actually building a product for the majority of Americans.”
— Samir Goel, Cofounder and Co-CEO, Esusu
“Even before investors took a bet on us, we could see from the actual people that we were serving that this product was valuable. It was communities like the ones we came from—that was not something that could be replicated.”
— Samir Goel, Cofounder and Co-CEO, Esusu
What’s next
Esusu plans to continue expanding its product offerings and reach, aiming to become a one-stop-shop for its customers' financial needs.
The takeaway
Esusu's journey from founders maxing out credit cards to building a fintech unicorn highlights the power of perseverance and a deep understanding of underserved communities. Their success despite facing skepticism from investors underscores the importance of diverse representation in venture capital to recognize market opportunities.
