Piñata, a rewards and credit building membership program for renters, has bagged $13m from a Series A round.
The round was led by Wilshire Lane Capital and saw participation from a number of venture groups as well as Ron Moelis, who is the chairman and co-founder of housing developer L+M Development Partners.
According to FinTech Finance, the funding comes amid Piñata’s huge 1100% year-over-year growth as of January 2022.
Piñata claims it is on a mission to improve the financial lives of the more than 100 million renters in the US and improve the tenant-landlord relationship in the process.
The company is looking to democratise credit access for renters and putting thousands of dollars back in their pockets every year. Members of Piñata are able to earn rewards for everyday goods and services and exclusive discounts from leading brands, as well as boosting their credit scores.
Piñata CEO and co-founder Lily Liu said, “We’re thrilled to be partnering with Wilshire Lane Capital. This is a heavy-hitting team of PropTech and real estate experts. Having their expertise at the table will only further our mission to reward millions of renters across the country and create a win-win-win model for renters, property management companies and businesses.”
