Financial Times: Rent-split lenders cover a tenant’s monthly payment to their landlord and receive the money back in instalments spread over the course of the month, in effect splitting up the borrower’s rent bill into smaller sums.
Wemimo Abbey, co-founder of Esusu, said the loans serve a growing number of people who work freelance or gig economy jobs with irregular pay schedules. “People can make [rent payments], it’s just the timing,” he said…