300 Rejections to Unicorn Status: How Wemimo Abbey Built Esusu

Wemimo Abbey immigrated from Lagos, Nigeria at 17. When he and his mother tried to borrow money, they were turned away by a major bank and sent to a payday lender charging over 400% interest. His mother sold his father’s wedding ring to get them started in America.

That experience became the foundation for Esusu, a fintech platform that reports rental payment data to credit bureaus—helping millions establish or improve credit scores. Before Esusu, less than 3% of the $1.4 trillion renters pay annually showed up on credit reports.

Wemimo shares how he and co-founder faced 326 rejections, got kicked out of a Denny’s for being $100,000 in credit card debt, and still pushed forward. They created a win-win-win model: landlords get more on-time payments, renters build credit, and lenders can better assess risk. The result? Over $50 billion unlocked in economic activity, bipartisan support in Congress, and partnerships with Freddie Mac, Fannie Mae, and Zillow.

What you’ll learn:

• Why timing matters more than originality when launching an idea
• How to create win-win-win scenarios for all stakeholders
• The power of stakeholder mapping: finding your entry point
• The co-CEO model: why sharing leadership can be a strength
• How to turn customer rejection into your biggest relationship

Wemimo:“Life is too short to work on win-lose. I am just not interested. It doesn’t get me out of bed. Money does not motivate me. Impact gets me on a high.”

Wemimo:“We always say think outside the box, but we never let people outside the box engage. That tells you how lopsided access to capital really is.”

Wemimo:“Be caught trying. In life, you’re gonna be knocked down. People will tell you no. Your ideas won’t work. You’re gonna have heartache in life. You just gotta show up and be caught trying.”

01:50 – Early Life and Education in Nigeria
04:05 – Entrepreneurial Beginnings and Early Ventures
08:10 – Corporate America and the Birth of Esusu
11:25 – The Power of Rental Data in Credit Scoring
17:15 –Scaling and Impact of Esusu
21:25 – The Importance of Win-Win-Win Scenarios
22:35 – Overcoming Challenges and Rejections
27:30 – The Co-CEO Structure at Esusu
30:00 – Partnerships and Customer Focus

Follow Everett on LinkedIn: linkedin.com/in/everettksands
Follow Wemimo on LinkedIn: linkedin.com/in/wemimoabbey
Learn more about Esusu: esusurent.com
Keep the conversation going at smallbusinessunscripted.com
Learn more about Lendistry: lendistry.com