Esusu and Progress Residential Join Forces to Transform Single-Family Rental Housing
Groundbreaking Partnership Will Create New Pathways for Renters to Build Wealth
HARLEM, NY AND SCOTTSDALE, AZ, (March 21, 2022) - Esusu, the leading financial technology company advancing rent reporting and data solutions for credit building, and Progress Residential, the market leader in single-family rental management services, today announced a new partnership to make Esusu’s platform for financial health solutions available to Progress Residential’s more than 250,000 residents across approximately 80,000 homes nationwide.
Since launching in 2018, Esusu has helped residents report their on-time rent payments to the major credit bureaus and boost credit scores. This partnership is the first time Esusu will bring its rent reporting capabilities to the single-family residential market and represents one of the largest expansions of Esusu’s platform to date. The application of Esusu’s comprehensive data and credit platform will enable Progress Residential to extend its commitment to building residents’ credit, offering access to financial education resources, and providing affordable housing.
“Esusu and Progress Residential are creating access to credit and financial opportunities for millions of people across the country who have previously been left behind,” said Samir Goel and Abbey Wemimo, Co-Founders of Esusu. “This collaboration is designed to deliver transformational credit building services and a holistic platform for renter financial health. As a pioneer in the single-family rental market and with its established focus on putting residents first, Progress Residential’s reach and nationwide platform enable Esusu to scale its vision to bridge the racial wealth gap.”
“The Progress promise is to put our residents first, and we are excited to continue doing just that by joining forces with Esusu to extend their credit reporting platform, helping all residents across our single-family rental portfolio build their credit,” said Morgan Collins, Chief Commercial Officer at Progress Residential. “Working alongside Esusu will enable us to develop new products and programs that remove barriers to housing choice and ultimately help residents achieve their dreams. This first-of-its-kind partnership is a transformational next chapter for Progress Residential.”
This historic single-family rental commitment is the first announcement to follow Esusu’s recent closing of a $130 million round of funding that values the company at $1 billion.
Esusu is the leading financial technology platform that leverages data solutions to empower residents 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 renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the United States. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.
About Progress Residential
Progress Residential is a market leader in intelligent single-family rental management services, with people, technology, scale, and data-driven solutions that streamline operations, optimize asset performance, and provide an exceptional renting and living experience for our residents. Progress Residential's approximately 2,500 employees currently manage approximately 80,000 homes across 30 markets. Progress Residential also offers third-party property management service for investors with mid-to-large single-family rental home portfolios and Built for Rent communities through its Progress Residential Management Services. For more information, please visit www.rentprogress.com.