Profile 42 : ESUSU FINANCIAL
About
Esusu is a mobile platform designed to empower our users to better save their income, access larger sums of capital, and build credit and financial identity through community-based savings.
Across the world, millions of people use savings clubs to build financial resilience and plan for the future. These groups are formed from trusted family and friends who each contribute toward a single pot of money on a regular basis. Each group member then has the chance to withdraw the full pot and use it towards big-ticket items including education, launching a business, and remittances.
Esusu serves as the bridge between the formal and the informal financial economy for the 57% of American’s who qualify as financially unhealthy.
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Founder Story Nugget
“For Wemimo, the idea behind Esusu comes from personal experience. Raised by a single mother, Wemimo attended one of the better public schools in Lagos, but he said he wouldn’t have been able to afford the tuition had his mother not participated in rotational savings. Now living in America, the 26-year old wants to help immigrants, students, and low-income families save.”
~Excerpt fromBlack Enterprise article, by Adedamola Agboola, May 2018