In cultures around the world families and friends pool their money together into a single pot of money. The process is called esusu, and a new app has adopted the name and making the process easier than ever.

Abbey Wemimo is the co-founder of Esusu. As an immigrant himself, Wemimo's mother practiced esusu and used that financing strategy to send Wemimo to school.

Wemimo explains that the main focus is to create a platform for immigrants and people of color, but of course he would be happy for all Americans to use the platform. Accessibility was a key factor in developing Esusu, which is why Wemimo says the company built a phone-based app.