Esusu, a fintech platform that helps renters build credit scores, has raised $50 million in a Series C funding round at a $1.2 billion valuation.Renters have remained largely excluded from the traditional credit system, with an estimated $1.4 trillion paid to landlords every year in the U.S., but only 20% of those landlords choosing to report the rent paid. As a result, millions of reliable renters remain in a category referred to as the "credit invisible." "110 million people in America rent ... and less t ...

Core Insights - Millennials face significant financial challenges, including managing student loans, housing costs, and inflation, which can lead to common financial mistakes that impact long-term health [1][2] Common Money Mistakes - **Using Retirement Accounts as a Personal Bank**: A prevalent mistake among millennials is treating retirement accounts, such as 401(k)s, as a source of immediate funds. This often results in early withdrawals or loans that undermine future tax-advantaged growth and may incur tax penalties [3][4] - **Credit Paralysis**: Many millennials experience credit paralysis, where they avoid taking action due to fears of poor credit scores. This can limit their financial opportunities, despite the existence of alternative lending options that consider other factors beyond credit scores [6] Solutions to Financial Mistakes - **Get a True Handle on Spending**: Financial advisors recommend that millennials track their spending accurately to understand their financial situation better. Utilizing free services for spending tracking can help manage finances effectively [5] - **Know Your Numbers**: It is advised that millennials should be aware of their financial metrics and not be discouraged by credit scores. A focus on gradual improvement through sound financial practices can lead to better outcomes over time [7]

Core Insights - The trend of self-reporting rent payments is increasing, with 13% of consumers reporting their rent to credit agencies in 2025, up from 11% in 2024, indicating a growing awareness of the impact of rent on credit scores [1] - Generation Z leads in participation rates for self-reporting rent payments, followed by Millennials and Gen X [1] Group 1: Consumer Behavior - There is a notable rise in consumers self-reporting their rent payments, suggesting a shift towards utilizing third-party data furnishers like Rental Kharma or RentReporters, as property manager participation in reporting has decreased from 48% in 2024 to 44% in 2025 [2] - Rent reporting involves submitting on-time rent payments to credit bureaus, which can positively influence credit scores since payment history constitutes 35% of the credit score calculation [3] Group 2: Rent Reporting Process - Consumers cannot report their rent payments directly but can enroll in rent reporting services through apps or landlord offerings, often requiring bank account linkage for tracking payments [4] - While rent reporting can help build credit, it is not a comprehensive solution for severe credit issues like bankruptcy or overdue debts, which may overshadow the benefits of rent reporting [5] Group 3: Pros and Cons - Self-reporting rent payments is an accessible method for credit building, but potential users should be aware of the associated advantages and disadvantages before enrolling in a rent reporting service [6]