As states across the country lift their COVID-19 rent freezes, many tenants could face eviction as unemployment rises and the economy dismantles. Black Americans and immigrants are most at risk because — on average — they have low or no credit scores due to the country’s history of systemic price mongering of federal agencies, local governments, and private sectors. 

According to Shoppe Black, Esusu, a minority-owned financial technology app, is on a mission to “eliminate the racial wealth gap driven by the role that credit and housing play in financial stability and wealth accumulation in the United States.” Thankfully, it has secured $2.3 million in seed funding, totaling $4 million since they began fundraising in June to achieve its mission.

Wemimo Abbey and Samir Goel founded Esusu in 2018, to allow users to pool and withdraw money for big-ticket transactions, like home down-payments, and use that data to help users improve their credit profiles, reports Forbes

An Esusu survey found that 62 percent of users on their platform would not be able to pay their rent on time, according to Forbes. 

“We’re trying to address the fact that millions of people have a thin credit score or no credit score at all, while the average debt is around $135,000,” Abbey said. “People are seeing the impact of what Esusu can do for their financial identity, which gives them a lot of leverage.”

With over 5,000 applicants across the nation, Esusu has already deployed about a quarter-million dollars. While the company operates in 30 states — the duo tells Forbes — their goal is to expand across all 50 states within the next year and projects $1 million in revenue by the end of the year.