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Esusu, which helps renters build credit, valued at $1.2 billion in new funding
CNBC Televisionยท 2025-12-11 13:32
Company Overview & Funding - Isuzu, a rent reporting as a service company, received an additional $50 million in Series C financing, bringing the total capital raised to over $200 million [2] - The funding aims to scale up the company and expand its services [1][6] Market Opportunity - The rental market in America includes 110 million renters who send roughly $14 trillion to landlords annually [3] - Less than 10% of rental payment data is currently reflected on renters' credit scores [3] - Isuzu's platform helps renters build or improve their credit scores by reporting rent payments [3][5] Impact on Homeownership - Rent reporting is crucial for home buying as it helps renters establish good credit [4] - Renters using the Isuzu platform have unlocked over $30 billion in mortgages [5] Expansion & New Services - Isuzu is expanding its services beyond large real estate owners and operators with "rent reporting as a service" or embedded rent reporting [6] - A partnership with Zillow allows users to sign up for credit building through Credit Climb [7] - Isuzu Pay enables renters to split their rent into multiple installments [7][8] - Isuzu acquired Salary Labs to enhance identity verification for renters [8] Ecosystem & Volume - Isuzu's ecosystem includes over 5 million people and $100 billion in rent volume [8]