Listen and subscribe to Financial Freestyle on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Some fairy tale success stories are real—and Wemimo Abbey’s journey is one of them. In this episode of Financial Freestyle with Ross Mac, Mac sits down with Wemimo Abbey, co-founder of Esusu, a fintech company focusing on rent reporting and credit-building solutions. Born and raised in Lagos, Nigeria, Abbey grew up with two siblings under the care of a single mother after losing his father at the age of two. His mother, a post office worker, prioritized education above all else. Abbey vividly recalls her belief: “She believed education was the most important investment in any child’s life.” She dedicated 60% of her income to ensuring her children had access to quality education. At 17, Abbey was accepted into the University of Minnesota, Crookston. However, there was one major challenge: funding. “When I came to America, we didn’t have a credit score. We walked into one of the biggest financial institutions to borrow money and were turned away because we didn’t have a good credit score,” Abbey explains. Left with no other option, he took out a payday loan at a staggering 400% interest rate. This setback became the foundation for Esusu. “No matter where you come from, the color of your skin or your financial identity shouldn’t determine where you end up in the wealthiest nation,” Abbey says. Today, Esusu is among the few Black-run unicorn companies in tech, having raised more than $1 billion in funding. Despite this monumental success, Abbey remains focused on his mission.
“Just the fact that you get there is enough…. You [have to] keep walking out and doing everything you can to get there,” he emphasizes. As for what drives him? Abbey keeps it simple: “326 investors said no to us because they didn’t believe that… creating win-win solutions for low to medium income people was investible or could become a billion-dollar company. But we proved them wrong.” Financial Freestyle with Ross Mac on Yahoo Finance is dedicated to promoting economic prosperity for all. Through expert insights, practical advice, and inspiring success stories, we empower you to build and grow wealth.
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